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Wallingford Coach Limited
Filleted accounts
31 January 2024
Company registration number: 08365973
Wallingford Coach Limited
Directors and other information
Directors P J Blowfield
L H Sargison
Company number 08365973
Registered office Lyehill Depot Wheatley Road
Forest Hill
Oxford
Oxfordshire
OX33 1EP
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Wallingford Coach Limited
Balance sheet
31st January 2024
2024 2023
Note £ £ £ £
Current assets
Cash at bank and in hand - 8
_______ _______
- 8
Creditors: amounts falling due
within one year 5 ( 270,873) ( 270,187)
_______ _______
Net current liabilities ( 270,873) ( 270,179)
_______ _______
Net liabilities ( 270,873) ( 270,179)
_______ _______
Capital and reserves
Called up share capital 6 3 3
Profit and loss account ( 270,876) ( 270,182)
_______ _______
Shareholders deficit ( 270,873) ( 270,179)
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
L H Sargison
Director
Company registration number: 08365973
Wallingford Coach Limited
Notes to the financial statements
Year ended 31st January 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyehill Depot Wheatley Road, Forest Hill, Oxford, Oxfordshire, OX33 1EP. There was no significant change in the company's principal activity during the year which continued to be the provision of bus and coach hire.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 38 -
Trade creditors - 3,000
Social security and other taxes 16,512 16,009
Other creditors 254,323 251,178
_______ _______
270,873 270,187
_______ _______
6. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 3 3 3 3
_______ _______ _______ _______