REGISTERED NUMBER: 04611074 (England and Wales)

Financial Statements

for the Year Ended 31st July 2024

for

EASTERN NATIONAL OMNIBUS

COMPANY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr W Hiron

Mr G J Raven

SECRETARY:

Mr G J Raven

REGISTERED OFFICE:

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

REGISTERED NUMBER:

04611074 (England and Wales)

AUDITORS:

Denmark Forrester Limited Statutory Auditor

Office 12, The Bentalls Centre

Colchester Road

Heybridge

Maldon

Essex

CM9 4GD

CURRENT ASSETS

Debtors

4

4,006

100

Cash at bank

475,062

654,212

479,068

654,312

CREDITORS

Amounts falling due within one year

5

478,968

290,235

NET CURRENT ASSETS

100

364,077

TOTAL ASSETS LESS CURRENT LIABILITIES

100

364,077

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

-

363,977

SHAREHOLDERS' FUNDS

100

364,077

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd April 2025 and were signed on its behalf by:

Mr W Hiron - Director

1.	STATUTORY INFORMATION

Eastern National Omnibus Company Ltd 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.

Turnover

The turnover 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 the revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

the Company has transferred the significant risks and rewards of ownership to the buyer;

-

the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

-

100

Other debtors

4,006

-

4,006

100

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,561

74,173

Amounts owed to group undertakings

453,487

26,000

Taxation and social security

21,066

166,013

Other creditors

2,854

24,049

478,968

290,235

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Easby ACA (Senior Statutory Auditor)

for and on behalf of Denmark Forrester Limited Statutory Auditor

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

As at the balance sheet date there were directors' current account balances totalling £104 (2023: £204).

8.	ULTIMATE CONTROLLING PARTY

The ultimate parent company during the year was Eastern Transport Holdings Limited. Its registered office is at Monometer House, Rectory Grove, Leigh on Sea, Essex, SS9 2HL.

The ultimate controlling party during the year was Mr W Hiron due to the 100% shareholding in Eastern Transport Holdings Limited.

The parent of the group into which the results of this company are consolodated is Eastern Transport Holdings Limited. Copies of the group financial statements can be obtained from companies house.