Company Registration No. 8758110 (England and Wales)
RED LINE BUSES LTD
Unaudited accounts
for the year ended 31 March 2024
RED LINE BUSES LTD
Unaudited accounts
Contents
RED LINE BUSES LTD
Company Information
for the year ended 31 March 2024
Directors
Wali KHAN
Parmeena BEGUM
Taj Wali KHAN
Company Number
8758110 (England and Wales)
Registered Office
INTERNATIONAL HOUSE
3 GRIFFIN LANE
AYLESBURY
BUCKINGHAMSHIRE
HP19 8BP
ENGLAND
Accountants
Aston Accountants
Bridge End
Bath Road, Taplow
Maidenhead
SL6 0AR
RED LINE BUSES LTD
Statement of financial position
as at 31 March 2024
Tangible assets
1,181,838
901,938
Cash at bank and in hand
630,355
953,222
Creditors: amounts falling due within one year
(452,834)
(1,097,521)
Net current assets
660,375
316,103
Total assets less current liabilities
1,842,213
1,218,041
Creditors: amounts falling due after more than one year
-
(50,000)
Net assets
1,842,213
1,168,041
Called up share capital
100
100
Profit and loss account
1,842,113
1,167,941
Shareholders' funds
1,842,213
1,168,041
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by
Wali KHAN
Director
Company Registration No. 8758110
RED LINE BUSES LTD
Notes to the Accounts
for the year ended 31 March 2024
RED LINE BUSES LTD is a private company, limited by shares, registered in England and Wales, registration number 8758110. The registered office is INTERNATIONAL HOUSE, 3 GRIFFIN LANE, AYLESBURY, BUCKINGHAMSHIRE, HP19 8BP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% at cost
Motor vehicles
10% at cost
Computer equipment
20% at cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
RED LINE BUSES LTD
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
292,815
1,789,908
36,585
2,119,308
Additions
737,260
-
-
737,260
Disposals
-
(250,500)
-
(250,500)
At 31 March 2024
1,030,075
1,539,408
36,585
2,606,068
At 1 April 2023
149,552
1,048,452
19,366
1,217,370
Charge for the year
29,282
227,667
7,317
264,266
On disposals
-
(57,406)
-
(57,406)
At 31 March 2024
178,834
1,218,713
26,683
1,424,230
At 31 March 2024
851,241
320,695
9,902
1,181,838
At 31 March 2023
143,263
741,456
17,219
901,938
Amounts falling due within one year
Accrued income and prepayments
40,546
40,546
Other debtors
244,466
388,466
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
157,987
224,276
Taxes and social security
419,932
181,711
Other creditors
396,489
600,000
Loans from directors
(521,574)
91,534
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
RED LINE BUSES LTD
Notes to the Accounts
for the year ended 31 March 2024
9
Transactions with related parties
Included in the other creditors is the sum of £521,574 - debit balance (2023: £91,534 - credit balance) due from the director, Mr W Khan. Interest is charged on this amount.
Mr T W Khan is the ultimate controlling party by virtue of his shareholding in the company.
11
Average number of employees
During the year the average number of employees was 64 (2023: 64).