9 Guarantees and other financial commitments
At 31 December 2024, the company had contracted to purchase a new coach for delivery in Spring 2025, but not provided for in these financial statements, for the sum of £284.500 (2023 - £254,500), against which a coach will be part exchanged at an agreed value of £150,000 (2023 - £nil).
In November 2023, the company contracted to rent HiHi telecom equipment for a period of 7 years. At 31 December 2024, the financial commitment amounted to £18,332 (2023 - £21,475).
The company operates four defined contribution pension schemes, the Roy McCarthy Coaches Limited pension schemes, for directors and other employees. The assets of the scheme are held separately from those of the company in independently administered funds. At the Balance Sheet date unpaid contributions of £457 (2023 - £190) were due to the fund. They are included in other creditors.