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Registered number: 07136192
Klarners Coaches Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
B&SW Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07136192
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 295,192 383,882
295,192 383,882
CURRENT ASSETS
Debtors 5 (5,074 ) 13,470
Cash at bank and in hand 1 -
(5,073 ) 13,470
Creditors: Amounts Falling Due Within One Year 7 (146,534 ) (184,916 )
NET CURRENT ASSETS (LIABILITIES) (151,607 ) (171,446 )
TOTAL ASSETS LESS CURRENT LIABILITIES 143,585 212,436
Creditors: Amounts Falling Due After More Than One Year 8 (244,745 ) (280,591 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (48,408 ) (48,408 )
NET LIABILITIES (149,568 ) (116,563 )
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account (149,572 ) (116,567 )
SHAREHOLDERS' FUNDS (149,568) (116,563)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Graham Klarner
Director
29/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Klarners Coaches Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07136192 . The registered office is 572 Ipswich Road , Colchester , Essex , CO4 9HB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20
Motor Vehicles 20
Computer Equipment 10
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 18 8 (2023: 10)
8 10
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 14,737 886,895 5,507 907,139
As at 31 January 2024 14,737 886,895 5,507 907,139
Depreciation
As at 1 February 2023 14,737 503,013 5,507 523,257
Provided during the period - 88,690 - 88,690
As at 31 January 2024 14,737 591,703 5,507 611,947
Net Book Value
As at 31 January 2024 - 295,192 - 295,192
As at 1 February 2023 - 383,882 - 383,882
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,692 14,805
Prepayments and accrued income - 8,061
VAT 258 1,758
Amounts owed by other participating interests (28,024) (11,154)
(5,074 ) 13,470
6. Current Asset Investments
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,668 40,626
Bank loans and overdrafts 64,853 88,277
Other taxes and social security 25,094 25,094
Accruals and deferred income 30,919 30,919
146,534 184,916
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 244,745 280,591
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 244,745 280,591
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 5