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Company No: 04736138 (England and Wales)

HODSONS COACHES (CLITHEROE) LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

HODSONS COACHES (CLITHEROE) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

HODSONS COACHES (CLITHEROE) LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
HODSONS COACHES (CLITHEROE) LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
DIRECTOR Mr M K Hodson
REGISTERED OFFICE Unit 14 Link 59 Business Park
Deanfield Way Pimlico Link Road
Clitheroe
BB7 1QU
United Kingdom
COMPANY NUMBER 04736138 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
HODSONS COACHES (CLITHEROE) LTD

BALANCE SHEET

AS AT 30 APRIL 2024
HODSONS COACHES (CLITHEROE) LTD

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 226,049 230,839
226,049 230,839
Current assets
Debtors 6 102,700 99,532
Cash at bank and in hand 46,694 142,405
149,394 241,937
Creditors: amounts falling due within one year 7 ( 35,095) ( 78,381)
Net current assets 114,299 163,556
Total assets less current liabilities 340,348 394,395
Creditors: amounts falling due after more than one year 8 ( 16,066) 0
Provision for liabilities ( 56,442) ( 57,581)
Net assets 267,840 336,814
Capital and reserves
Called-up share capital 100 100
Profit and loss account 267,740 336,714
Total shareholders' funds 267,840 336,814

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Hodsons Coaches (Clitheroe) Ltd (registered number: 04736138) were approved and authorised for issue by the Director on 17 January 2025. They were signed on its behalf by:

Mr M K Hodson
Director
HODSONS COACHES (CLITHEROE) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
HODSONS COACHES (CLITHEROE) LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hodsons Coaches (Clitheroe) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 14 Link 59 Business Park, Deanfield Way Pimlico Link Road, Clitheroe, BB7 1QU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 15 % reducing balance
Plant and machinery 15 % reducing balance
Vehicles 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 17 16

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 75,000 75,000
At 30 April 2024 75,000 75,000
Accumulated amortisation
At 01 May 2023 75,000 75,000
At 30 April 2024 75,000 75,000
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

5. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 May 2023 12,948 42,925 973,046 1,028,919
Additions 0 5,750 24,500 30,250
At 30 April 2024 12,948 48,675 997,546 1,059,169
Accumulated depreciation
At 01 May 2023 9,333 29,951 758,796 798,080
Charge for the financial year 176 2,665 32,199 35,040
At 30 April 2024 9,509 32,616 790,995 833,120
Net book value
At 30 April 2024 3,439 16,059 206,551 226,049
At 30 April 2023 3,615 12,974 214,250 230,839

6. Debtors

2024 2023
£ £
Trade debtors 85,656 86,709
Other debtors 17,044 12,823
102,700 99,532

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 15,041 29,605
Taxation and social security 6,698 38,302
Obligations under finance leases and hire purchase contracts (secured) 7,500 3,473
Other creditors 5,856 7,001
35,095 78,381

Obligations under finance leases and hire purchase contractors are secured against the assets to which they relate.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 16,066 0

Obligations under finance leases and hire purchase contractors are secured against the assets to which they relate.