Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31truefalse2024-01-01No description of principal activity1920trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09194600 2024-01-01 2024-12-31 09194600 2023-01-01 2023-12-31 09194600 2024-12-31 09194600 2023-12-31 09194600 c:Director2 2024-01-01 2024-12-31 09194600 c:Director3 2024-01-01 2024-12-31 09194600 d:MotorVehicles 2024-01-01 2024-12-31 09194600 d:MotorVehicles 2024-12-31 09194600 d:MotorVehicles 2023-12-31 09194600 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09194600 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 09194600 d:FurnitureFittings 2024-01-01 2024-12-31 09194600 d:FurnitureFittings 2024-12-31 09194600 d:FurnitureFittings 2023-12-31 09194600 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09194600 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 09194600 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09194600 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 09194600 d:Goodwill 2024-12-31 09194600 d:Goodwill 2023-12-31 09194600 d:CurrentFinancialInstruments 2024-12-31 09194600 d:CurrentFinancialInstruments 2023-12-31 09194600 d:Non-currentFinancialInstruments 2024-12-31 09194600 d:Non-currentFinancialInstruments 2023-12-31 09194600 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 09194600 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09194600 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 09194600 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09194600 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 09194600 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 09194600 d:ShareCapital 2024-12-31 09194600 d:ShareCapital 2023-12-31 09194600 d:RetainedEarningsAccumulatedLosses 2024-12-31 09194600 d:RetainedEarningsAccumulatedLosses 2023-12-31 09194600 c:FRS102 2024-01-01 2024-12-31 09194600 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09194600 c:FullAccounts 2024-01-01 2024-12-31 09194600 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09194600 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 09194600 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 09194600 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 09194600 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 09194600 2 2024-01-01 2024-12-31 09194600 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 09194600 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09194600 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-12-31 09194600 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 09194600 d:LeasedAssetsHeldAsLessee 2024-12-31 09194600 d:LeasedAssetsHeldAsLessee 2023-12-31 09194600 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 09194600










PETER GODWARD COACHES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PETER GODWARD COACHES LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PETER GODWARD COACHES LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peter Godward Coaches Limited for the year ended 31 December 2024 which comprise the Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Peter Godward Coaches Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Peter Godward Coaches Limited and state those matters that we have agreed to state to the Board of Directors of Peter Godward Coaches Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peter Godward Coaches Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Peter Godward 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 Peter Godward Coaches Limited. You consider that Peter Godward Coaches Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Peter Godward 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.

  



MWS Accountants
 
Chartered Accountants
  
Kingsridge House
601 London Road
Westcliff-On-Sea
Essex
SS0 9PE
10 February 2025
Page 1

 
PETER GODWARD COACHES LIMITED
REGISTERED NUMBER: 09194600

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
991,555
918,240

  
991,555
918,240

Current assets
  

Stocks
  
11,940
13,500

Debtors: amounts falling due within one year
 6 
89,943
51,879

Cash at bank and in hand
 7 
35,359
113,593

  
137,242
178,972

Creditors: amounts falling due within one year
 8 
(483,587)
(473,855)

Net current liabilities
  
 
 
(346,345)
 
 
(294,883)

Total assets less current liabilities
  
645,210
623,357

Creditors: amounts falling due after more than one year
 9 
(261,561)
(443,238)

Provisions for liabilities
  

Deferred tax
 12 
(56,825)
(26,468)

  
 
 
(56,825)
 
 
(26,468)

Net assets
  
326,824
153,651


Capital and reserves
  

Called up share capital 
  
96,003
96,003

Profit and loss account
  
230,821
57,648

  
326,824
153,651


Page 2

 
PETER GODWARD COACHES LIMITED
REGISTERED NUMBER: 09194600

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 February 2025.




J. Godward
A.M. Godward
Director
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private company limited by shares and was incorporated in England and Wales. The principal place of business is:
Unit 3 & 4 Mills Court,
Swinbourne Road,
Basildon,
Essex SS13 1EH.
Registered number 09194600.
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Coaches
-
10%
straight line
Fixtures, fittings and equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 5

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 6

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 20).


4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
1,500



At 31 December 2024

1,500



Amortisation


At 1 January 2024
1,500



At 31 December 2024

1,500



Net book value



At 31 December 2024
-



At 31 December 2023
-



Page 7

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Coaches
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
1,746,448
31,975
1,778,423


Additions
400,000
39,182
439,182


Disposals
(262,500)
-
(262,500)



At 31 December 2024

1,883,948
71,157
1,955,105



Depreciation


At 1 January 2024
840,553
19,630
860,183


Charge for the year on owned assets
15,293
4,040
19,333


Charge for the year on financed assets
148,813
-
148,813


Disposals
(64,779)
-
(64,779)



At 31 December 2024

939,880
23,670
963,550



Net book value



At 31 December 2024
944,068
47,487
991,555



At 31 December 2023
905,895
12,345
918,240

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Coaches
615,091
813,700

615,091
813,700

Page 8

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
55,815
35,417

Other debtors
34,128
15,992

Prepayments and accrued income
-
470

89,943
51,879


Factored debts amount to £nil (2023 £nil) and are included within trade debtors. The amount received from the factoring company at 31 December 2024: £nil


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
35,359
113,593

Less: bank overdrafts
(20,587)
-

14,772
113,593


Page 9

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
20,587
-

Bank loans
51,205
81,365

Trade creditors
57,909
40,531

Other taxation and social security
14,662
13,280

Obligations under finance lease and hire purchase contracts
202,433
169,549

Directors loan
136,791
169,130

483,587
473,855


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
456,511
545,369

456,511
545,369

Details of security provided:

The obligations under finance lease and hire purchase contracts are secured on the respective assets. 


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,483
64,985

Net obligations under finance leases and hire purchase contracts
254,078
378,253

261,561
443,238


Page 10

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
51,205
81,365


51,205
81,365


Amounts falling due 2-5 years

Bank loans
7,483
64,985


7,483
64,985


58,688
146,350



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
202,446
-

Between 1-5 years
254,077
547,802

456,523
547,802

Page 11

 
PETER GODWARD COACHES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Deferred taxation




2024


£






At beginning of year
(26,469)


Utilised in year
(30,355)



At end of year
(56,824)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
56,824
26,469

56,824
26,469


13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held
seperately from those of the company in an independently administered fund. The pension cost charge
represents contributions paid by the company to the fund and amounted to £2,224 (2023 £2,489).


14.


Related party transactions

The bank account in the amount of £35,153 (2023 £80,045 ) is in the name of Tours R Us Limited (a company owned by Mrs A.M. Godward)  as nominee for the company.
 


Page 12