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REGISTERED NUMBER: 01191212 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2024

for

HARRIS COACHES (PENGAM) LIMITED

HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARRIS COACHES (PENGAM) LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: W J Harris
G Harris
N Harris





SECRETARY: W J Harris





REGISTERED OFFICE: Bryn-Gwyn
Fleur- de- Lys
Blackwood
NP2 1RZ





REGISTERED NUMBER: 01191212 (England and Wales)





ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)

Balance Sheet
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 720,476 745,078

CURRENT ASSETS
Stocks 19,450 17,450
Debtors 5 250,367 182,127
Cash at bank 2,997,126 2,961,107
3,266,943 3,160,684
CREDITORS
Amounts falling due within one year 6 (334,106 ) (430,653 )
NET CURRENT ASSETS 2,932,837 2,730,031
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,653,313

3,475,109

CREDITORS
Amounts falling due after more than
one year

7

(31,514

)

(61,866

)

PROVISIONS FOR LIABILITIES (130,165 ) (130,165 )
NET ASSETS 3,491,634 3,283,078

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 50,528 50,528
Retained earnings 3,441,006 3,232,450
SHAREHOLDERS' FUNDS 3,491,634 3,283,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)

Balance Sheet - continued
30 JUNE 2024


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 March 2025 and were signed on its behalf by:





W J Harris - Director


HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Harris Coaches (Pengam) 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 5 years
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Freehold land and buildings are not depreciated, which is not in accordance with FRS 15 "Tangible Fixed Assets", as the company has a policy of constant repair. The property is maintained to such a standard that the directors are of the opinion that no depreciation is appropriate to freehold land and buildings and that no impairment has occurred with regard to the freehold land and buildings owned by the company.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2023 - 51 ) .

HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2023 60,000 200,845 183,423 2,039,501 2,483,769
Additions - - 4,797 155,000 159,797
Disposals - - - (26,000 ) (26,000 )
At 30 June 2024 60,000 200,845 188,220 2,168,501 2,617,566
DEPRECIATION
At 1 July 2023 - 200,845 153,061 1,384,785 1,738,691
Charge for year - - 6,371 177,228 183,599
Eliminated on disposal - - - (25,200 ) (25,200 )
At 30 June 2024 - 200,845 159,432 1,536,813 1,897,090
NET BOOK VALUE
At 30 June 2024 60,000 - 28,788 631,688 720,476
At 30 June 2023 60,000 - 30,362 654,716 745,078

Included in cost or valuation of land and buildings is freehold land of £ 60,000 (2023 - £ 60,000 ) which is not depreciated.

Cost or valuation at 30 June 2024 is represented by:

Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
Valuation in 1992 50,528 - - - 50,528
Cost 9,472 200,845 188,220 2,168,501 2,567,038
60,000 200,845 188,220 2,168,501 2,617,566

If the freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 9,472 9,472

Value of land in freehold land and buildings 9,472 9,472

HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

The freehold land and buildings situated at Bryn-Gwyn, Fleur-de-Lys was valued by Nicholas Heins & Co.FSVA/FNAEA on the 19 May 1992. The directors are still of the opinion that this valuation is appropriate. The inclusion of this revaluation does not constitute an adoption of a policy of revaluation for the purposes of FRS 15 "Tangible Fixed Assets".

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 292,300
DEPRECIATION
At 1 July 2023 74,090
Charge for year 96,610
At 30 June 2024 170,700
NET BOOK VALUE
At 30 June 2024 121,600
At 30 June 2023 218,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,199 4,341
Other debtors 240,247 158,964
Prepayments 8,921 18,822
250,367 182,127

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 30,353 29,190
Trade creditors 58,331 78,605
Tax 76,290 123,695
Social security and other taxes 38,977 28,243
Other creditors 109,701 153,091
Directors' current accounts 7,129 7,129
Accrued expenses 13,325 10,700
334,106 430,653

HARRIS COACHES (PENGAM) LIMITED (REGISTERED NUMBER: 01191212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The dirctors loan accounts are interest free and repayable on demand.


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 31,514 61,866

8. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 50,528

9. ULTIMATE CONTROLLING PARTIES

W J Harris, G Harris and N Harris are the ultimate controlling parties.