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REGISTERED NUMBER: SC333425 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

WHYTES COACHES LIMITED

WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 9

WHYTES COACHES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr D A Campbell
Mr J Carrison





REGISTERED OFFICE: Whytes Coaches Scotstown Road
Newmachar
Aberdeen
AB21 7PP





REGISTERED NUMBER: SC333425 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 205,185 273,792
205,185 273,792

CURRENT ASSETS
Stocks 7 4,250 3,180
Debtors 8 238,303 217,969
Cash in hand 827 1,123
243,380 222,272
CREDITORS
Amounts falling due within one year 9 246,816 289,065
NET CURRENT LIABILITIES (3,436 ) (66,793 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,749

206,999

CREDITORS
Amounts falling due after more than one year 10 (47,924 ) (67,706 )

PROVISIONS FOR LIABILITIES (47,209 ) (48,318 )
NET ASSETS 106,616 90,975

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 56,616 40,975
SHAREHOLDERS' FUNDS 106,616 90,975

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.

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 8 January 2025 and were signed on its behalf by:




Mr D A Campbell - Director


WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Whytes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Accounting policies
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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.
Long leasehold - 5% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 10% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.


WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued
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.

Leases
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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including and lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Retirement Benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 343,003
AMORTISATION
At 1 May 2023
and 30 April 2024 343,003
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 62,778 38,182 17,128 876,273 994,361
DEPRECIATION
At 1 May 2023 43,291 37,892 17,128 622,259 720,570
Charge for year 3,139 290 - 65,177 68,606
At 30 April 2024 46,430 38,182 17,128 687,436 789,176
NET BOOK VALUE
At 30 April 2024 16,348 - - 188,837 205,185
At 30 April 2023 19,487 290 - 254,014 273,791

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 99,740
DEPRECIATION
At 1 May 2023 27,429
Charge for year 9,974
At 30 April 2024 37,403
NET BOOK VALUE
At 30 April 2024 62,337
At 30 April 2023 72,311

7. STOCKS
2024 2023
£    £   
Stocks 4,250 3,180

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,392 40,923
Amounts owed by group undertakings 191,756 158,809
VAT 3,127 3,719
Prepayments 15,028 14,518
238,303 217,969

WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 140,119 135,265
Hire purchase contracts (see note 12) 17,239 54,891
Trade creditors 12,441 13,764
Tax 26,008 22,678
Social security and other taxes 1,685 3,232
Net wages creditor - 3,204
Other creditors 804 1,079
Directors' current accounts 44,752 51,348
Deferred income 945 1,495
Accrued expenses 2,823 2,109
246,816 289,065

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) 32,126 37,860
Hire purchase contracts (see note 12) 15,798 29,846
47,924 67,706

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,010 13,346

11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 134,269 129,590
Bank loans 5,850 5,675
140,119 135,265

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,046 5,901

Amounts falling due between two and five years:
Bank loans - 2-5 years 19,070 18,613

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,010 13,346

WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 17,239 54,891
Between one and five years 15,798 29,846
33,037 84,737

Non-cancellable operating leases
2024 2023
£    £   
Within one year 29,400 29,400
Between one and five years 11,700 41,100
41,100 70,500

13. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 134,269 129,590

The company has granted a floating charge in favour of Bank of Scotland PLC in respect of all present and future undertakings and property of the company.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr D A Campbell
Balance outstanding at start of year (38,724 ) (8,312 )
Amounts advanced 11,688 (30,412 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27,036 ) (38,724 )

Mr J Carrison
Balance outstanding at start of year (12,624 ) (8,312 )
Amounts advanced - (4,312 )
Amounts repaid (5,092 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,716 ) (12,624 )

The above noted loans are interest free and have no set repayment terms.

WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

15. ULTIMATE CONTROLLING PARTY

Ultimate Parent Company
The immediate and ultimate parent company is WCCU Limited by virtue of it's 100% ownership of the issued share capital in Whytes Coaches Limited.


Ultimate Controlling Party
The directors are considered to be the ultimate controlling parties by virtue of their combined 100% ownership of the issued share capital in the parent company, WCCU Limited.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whytes Coaches Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Whytes Coaches Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Whytes Coaches Limited and state those matters that we have agreed to state to the Board of Directors of Whytes Coaches Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Whytes Coaches Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Whytes Coaches Limited. You consider that Whytes Coaches Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Whytes Coaches Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


8 January 2025