Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
AAA Coaches Limited |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
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 |
Transfer to ownership | (701,500 | ) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Transfer to ownership | (434,957 | ) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
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 |
Impairments | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Hire purchase contracts |
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 |
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 ) |
A Ordinary | 1p | 2 | - |
B Ordinary | 1p | - | - |
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 |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
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. |