Registered number
04700853
Geoff Williams Mini-buses Limited
Unaudited Filleted Accounts
31 March 2024
Geoff Williams Mini-buses Limited
Registered number: 04700853
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 271,784 254,627
Current assets
Stocks 1,575 2,654
Debtors 4 39,265 53,342
Cash at bank and in hand 212,369 212,946
253,209 268,942
Creditors: amounts falling due within one year 5 (28,209) (16,774)
Net current assets 225,000 252,168
Total assets less current liabilities 496,784 506,795
Provisions for liabilities (33,241) (29,783)
Net assets 463,543 477,012
Capital and reserves
Called up share capital 100 100
Profit and loss account 463,443 476,912
Shareholders' funds 463,543 477,012
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D G Williams
Director
Approved by the board on 27 November 2024
Geoff Williams Mini-buses Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents net invoices sales of services, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 10% straight line
Plant, machinery and equipment 15% reducing balance
Motor Vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 21
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 85,207 11,910 362,037 459,154
Additions - 256 84,088 84,344
Disposals - - (55,695) (55,695)
At 31 March 2024 85,207 12,166 390,430 487,803
Depreciation
At 1 April 2023 4,224 6,221 194,082 204,527
Charge for the year 29 876 52,278 53,183
On disposals - - (41,691) (41,691)
At 31 March 2024 4,253 7,097 204,669 216,019
Net book value
At 31 March 2024 80,954 5,069 185,761 271,784
At 31 March 2023 80,983 5,689 167,955 254,627
4 Debtors 2024 2023
£ £
Trade debtors 27,997 35,677
Other debtors 11,268 17,665
39,265 53,342
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,220 3,746
Taxation and social security costs 17,121 6,431
Other creditors 6,868 6,597
28,209 16,774
6 Other information
Geoff Williams Mini-buses Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Haulfryn
The Square
Kerry, Newtown
Powys
SY16 4NU
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