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Registered Number: 01333987
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 October 2024

for

W.H. FOWLER & SONS (COACHES) LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 819,848    490,606 
819,848    490,606 
Current assets      
Stocks 4 42,825    40,500 
Debtors 5 187,067    200,169 
Cash at bank and in hand 181,405    226,660 
411,297    467,329 
Creditors: amount falling due within one year 6 (254,401)   (227,176)
Net current assets 156,896    240,153 
 
Total assets less current liabilities 976,744    730,759 
Creditors: amount falling due after more than one year 7 (288,903)   (99,510)
Provisions for liabilities 8 (156,415)   (76,210)
Net assets 531,426    555,039 
 

Capital and reserves
     
Called up share capital 9 16,500    16,500 
Share premium account 10 22,000    22,000 
Capital Redemption Reserve 11 13,500    13,500 
Profit and loss account 479,426    503,039 
Shareholders' funds 531,426    555,039 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 March 2025 and were signed on its behalf by:


-------------------------------
Andrew Fowler
Director
1
General Information
W.H. Fowler & Sons (Coaches) Limited is a private company, limited by shares, registered in England and Wales, registration number 01333987, registration address 155 Dog Drove South, Holbeach Drove, Spalding, Lincolnshire, PE12 0SD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings 0% Reducing Balance
Plant and machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 33.3% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 28 (2023 : 30).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 November 2023 170,605    189,368    807,315    38,251    1,205,539 
Additions     523,272      523,272 
Disposals     (173,900)     (173,900)
At 31 October 2024 170,605    189,368    1,156,687    38,251    1,554,911 
Depreciation
At 01 November 2023 9,498    155,068    512,366    38,001    714,933 
Charge for year   5,145    117,897    83    123,125 
On disposals     (102,995)     (102,995)
At 31 October 2024 9,498    160,213    527,268    38,084    735,063 
Net book values
Closing balance as at 31 October 2024 161,107    29,155    629,419    167    819,848 
Opening balance as at 01 November 2023 161,107    34,300    294,949    250    490,606 


4.

Stocks

2024
£
  2023
£
Stocks 42,825    40,500 
42,825    40,500 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 134,391    179,496 
Other Debtors 52,676    20,673 
187,067    200,169 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 84,787    56,599 
Bank Loans & Overdrafts 50,752    62,500 
Taxation and Social Security 14,684    38,572 
Obligations under HP/Financial Leases 88,651    55,699 
Other Creditors 15,527    13,806 
254,401    227,176 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts   46,875 
Obligations under HP/Financial Leases 288,903    52,635 
288,903    99,510 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 156,415    76,210 
156,415    76,210 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
7,500 Class A shares of £1.00 each 7,500    7,500 
9,000 Class B shares of £1.00 each 9,000    9,000 
16,500    16,500 

10.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 22,000    22,000 
22,000    22,000 

11.

Capital Redemption Reserve

2024
£
  2023
£
Capital Redemption Reserve b/fwd 13,500    13,500 
13,500    13,500 

2