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REGISTERED NUMBER: 02104917 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Wise Coaches Limited

Wise Coaches Limited (Registered number: 02104917)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wise Coaches Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J S G Wise
Mrs E J Wise





REGISTERED OFFICE: 10 English Business Park
English Close
Hove
East Sussex
BN3 7ET





REGISTERED NUMBER: 02104917 (England and Wales)





ACCOUNTANTS: AJ Wheeler Limited
338 London Road
Portsmouth
Hampshire
PO2 9JY

Wise Coaches Limited (Registered number: 02104917)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 210,069 195,864

CURRENT ASSETS
Debtors 6 10,427 14,466
Cash at bank 137,305 109,415
147,732 123,881
CREDITORS
Amounts falling due within one year 7 106,915 105,935
NET CURRENT ASSETS 40,817 17,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,886

213,810

CREDITORS
Amounts falling due after more than one year 8 112,758 187,482
NET ASSETS 138,128 26,328

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 138,126 26,326
SHAREHOLDERS' FUNDS 138,128 26,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 24 February 2025 and were signed on its behalf by:





J S G Wise - Director


Wise Coaches Limited (Registered number: 02104917)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Wise Coaches Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - at variable rates on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Wise Coaches Limited (Registered number: 02104917)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 15,489 190,625 322 206,436
Additions - 15,829 4,149 19,978
At 31 May 2024 15,489 206,454 4,471 226,414
DEPRECIATION
At 1 June 2023 9,972 600 - 10,572
Charge for year 827 3,982 964 5,773
At 31 May 2024 10,799 4,582 964 16,345
NET BOOK VALUE
At 31 May 2024 4,690 201,872 3,507 210,069
At 31 May 2023 5,517 190,025 322 195,864

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,905 12,330
VAT 1,482 2,136
Prepayments 4,040 -
10,427 14,466

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,775 5,633
Hire purchase contracts 34,000 34,000
Trade creditors 4,194 9,072
Other creditors 1,079 5,295
Accruals and deferred income 60,917 51,035
Accrued expenses 950 900
106,915 105,935

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,921 5,775
Bank loans - 2-5 years 24,670 30,584
Other loans more than 5 years - 34,956
Hire purchase contracts 82,167 116,167
112,758 187,482

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more than 5 years - 34,956

Wise Coaches Limited (Registered number: 02104917)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   

The bank has a charge over the coach asset.