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Unaudited Financial Statements for the Year Ended 30 April 2024

for

AAA Coaches Limited

AAA Coaches Limited (Registered number: SC182581)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AAA Coaches Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs A V Renton
Mrs L Sutherland
Mrs S Smyth
Ms P Maloney
R J Renton





REGISTERED OFFICE: 2 Melville Street
Falkirk
FK1 1HZ





REGISTERED NUMBER: SC182581 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

AAA Coaches Limited (Registered number: SC182581)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,796,726 4,745,156
Investments 5 422,436 -
5,219,162 4,745,156

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 6 237,192 864,138
Cash at bank and in hand 418,820 475,263
676,012 1,359,401
CREDITORS
Amounts falling due within one year 7 260,887 370,018
NET CURRENT ASSETS 415,125 989,383
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,634,287

5,734,539

CREDITORS
Amounts falling due after more than one year 8 (303,419 ) (682,472 )

PROVISIONS FOR LIABILITIES (694,592 ) (455,389 )
NET ASSETS 4,636,276 4,596,678

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 395,751 395,751
Retained earnings 4,240,523 4,200,925
SHAREHOLDERS' FUNDS 4,636,276 4,596,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AAA Coaches Limited (Registered number: SC182581)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Ms P Maloney - Director


AAA Coaches Limited (Registered number: SC182581)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

AAA Coaches Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance and 20% on reducing balance

The directors have chosen not to depreciate heritable property and believe this decision will have no material effect on the accounts.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

AAA Coaches Limited (Registered number: SC182581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 47 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 1,476,257 7,569,697 9,045,954
Additions - 1,041,174 1,041,174
Disposals - (884,000 ) (884,000 )
At 30 April 2024 1,476,257 7,726,871 9,203,128
DEPRECIATION
At 1 May 2023 26,257 4,274,541 4,300,798
Charge for year - 655,342 655,342
Eliminated on disposal - (549,738 ) (549,738 )
At 30 April 2024 26,257 4,380,145 4,406,402
NET BOOK VALUE
At 30 April 2024 1,450,000 3,346,726 4,796,726
At 30 April 2023 1,450,000 3,295,156 4,745,156

AAA Coaches Limited (Registered number: SC182581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 395,751 - 395,751
Cost 1,080,506 7,726,871 8,807,377
1,476,257 7,726,871 9,203,128

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 1,080,506 1,080,506
Aggregate depreciation 26,257 26,257

Freehold land & Buildings were valued on an open market basis on 8 November 2022 by DM Hall Surveyors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 May 2023 1,493,115
Transfer to ownership (701,500 )
At 30 April 2024 791,615
DEPRECIATION
At 1 May 2023 706,772
Charge for year 103,960
Transfer to ownership (434,957 )
At 30 April 2024 375,775
NET BOOK VALUE
At 30 April 2024 415,840
At 30 April 2023 786,343

AAA Coaches Limited (Registered number: SC182581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 490,550
Impairments (68,114 )
At 30 April 2024 422,436
NET BOOK VALUE
At 30 April 2024 422,436

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 141,261 161,551
Other debtors 95,931 702,587
237,192 864,138

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts - 120,000
Hire purchase contracts 69,243 173,190
Trade creditors 7,551 27,150
Taxation and social security 49,314 24,934
Other creditors 134,779 24,744
260,887 370,018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 140,000
Hire purchase contracts 303,419 542,472
303,419 682,472

AAA Coaches Limited (Registered number: SC182581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans - 260,000

The company's bank overdraft is secured with a standard security over the company's freehold property and with a bond and floating charge over the assets of the company. The bank loan facility to the company is supported with a partial guarantee by the Secretary of State for Business, Energy and Industrial Strategy under the Coronavirus Business Interruption Loan Scheme. The Royal bank of Scotland has taken additional security over the business premises at 7/8 Camps Industrial Estate, Kirknewton.

10. CALLED UP SHARE CAPITAL

**ERROR - CONFLICTS FOUND BETWEEN POSTINGS AND SHARE REGISTER - PLEASE REVIEW EXCEPTION REPORT (EXR).


Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
NIL Ordinary £1 - 2
(30.4.23 - 2 )
200 A Ordinary 1p 2 -
1 B Ordinary 1p - -
1 C Ordinary 1p - -
1 D Ordinary 1p - -
1 E Ordinary 1p - -
1 F Ordinary 1p - -
1 G Ordinary 1p - -
2 2

The following shares were issued during the year for cash at par :

1 B Ordinary share of 1p
1 C Ordinary share of 1p
1 D Ordinary share of 1p
1 E Ordinary share of 1p
1 F Ordinary share of 1p
1 G Ordinary share of 1p

11. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 395,751

AAA Coaches Limited (Registered number: SC182581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
Mrs L Sutherland
Balance outstanding at start of year 22,337 -
Amounts advanced 18,624 22,337
Amounts repaid (41,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (39 ) 22,337

Mrs S Smyth
Balance outstanding at start of year 7,202 -
Amounts advanced 64,085 7,202
Amounts repaid (71,300 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13 ) 7,202

Ms P Maloney
Balance outstanding at start of year 33,920 -
Amounts advanced 45,410 33,920
Amounts repaid (79,400 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (70 ) 33,920

R J Renton
Balance outstanding at start of year 20,270 -
Amounts advanced 35,664 20,270
Amounts repaid (56,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (66 ) 20,270

The overdrawn directors loan accounts were repaid within nine months after the year end.

AAA Coaches Limited (Registered number: SC182581)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

13. RELATED PARTY DISCLOSURES

The company was under the control of it's director and major shareholder Mrs A. Renton during the year.


AAA Estates (Edinburgh) Ltd and A Johnston Properties Ltd, share common control with directors Mrs A. Renton, Mrs. S. Smyth, Mrs. P. Maloney and Mrs. L Sutherland The company is due £Nil (2023 - £490,549) and £Nil (2023 - £19,080) respectively from these related companies at the year end.

The company holds Class B Ordinary shares in AAA Estates (Edinburgh) Ltd valued at £442,435.

During the year, the company sold goods and services amounting to £186,706 (2023 - £197,062) to LA Travel Edinburgh Ltd and purchased goods and services amounting to £497,790 (2023 - £240,000l). LA Travel Edinburgh Ltd is a business owned and operated by Mrs L Sutherland - a director of the company. At the year end the business was owed £19,025 (2023 - £106,767) by LA Travel Edinburgh Ltd as disclosed under Other Debtors.