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REGISTERED NUMBER: 03615021 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

STANFORD COACH WORKS & MOBILITY
SERVICES LTD

STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STANFORD COACH WORKS & MOBILITY
SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr L Wiggins
Mr JC Rider
Mrs G Rider
Mrs S Wiggins





SECRETARY: Mr JC Rider





REGISTERED OFFICE: 12 High Street
Stanford le Hope
Essex
SS17 0EY





REGISTERED NUMBER: 03615021 (England and Wales)





ACCOUNTANTS: Elliott, Mortlock, Busby & Co Limited
12 High Street
Stanford le Hope
Essex
SS17 0EY

STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 185,109 211,714

CURRENT ASSETS
Stocks 941,864 757,290
Debtors 6 3,199,565 2,465,551
Cash at bank 2,137,546 1,626,640
6,278,975 4,849,481
CREDITORS
Amounts falling due within one year 7 3,066,812 2,550,897
NET CURRENT ASSETS 3,212,163 2,298,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,397,272

2,510,298

CREDITORS
Amounts falling due after more than one year 8 (37,500 ) (87,500 )

PROVISIONS FOR LIABILITIES 10 (3,698 ) (5,708 )
NET ASSETS 3,356,074 2,417,090

CAPITAL AND RESERVES
Called up share capital 22,520 22,520
Retained earnings 3,333,554 2,394,570
SHAREHOLDERS' FUNDS 3,356,074 2,417,090

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

BALANCE SHEET - continued
31 AUGUST 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 February 2025 and were signed on its behalf by:





Mr L Wiggins - Director


STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Stanford Coach Works & Mobility Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 comprises the fair value of the consideration received or receivable for the provision of goods and services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured,
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.
Capital expenditure on premises - 5% straight line basis
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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.


STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. ACCOUNTING POLICIES - continued
Deferred taxation
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 are capitalised as tangible fixed assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the payment is charged to the profit and loss account evenly over the period of the agreement.

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

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

Employee benefit trust
The company established an Employee Benefit Trust (EBT) during the year to 31 August 2010 for the benefit of certain employees. Until such time as the assets of the EBT vest unconditionally with the employees, the assets and liabilities of the EBT are included within the relevant assets and liabilities of the company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2023 - 44 ) .

STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Capital
expenditure Fixtures
on Plant and Motor and
premises machinery vehicles fittings Totals
£    £    £    £    £   
COST
At 1 September 2023 306,572 78,386 105,346 184,666 674,970
Additions - 4,100 - 2,975 7,075
Disposals - - (11,500 ) - (11,500 )
At 31 August 2024 306,572 82,486 93,846 187,641 670,545
DEPRECIATION
At 1 September 2023 163,734 71,676 73,078 154,768 463,256
Charge for year 15,330 1,676 8,067 7,906 32,979
Eliminated on disposal - - (10,799 ) - (10,799 )
At 31 August 2024 179,064 73,352 70,346 162,674 485,436
NET BOOK VALUE
At 31 August 2024 127,508 9,134 23,500 24,967 185,109
At 31 August 2023 142,838 6,710 32,268 29,898 211,714

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 45,550
Transfer to ownership (45,550 )
At 31 August 2024 -
DEPRECIATION
At 1 September 2023 20,354
Transfer to ownership (20,354 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 25,196

STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,528,984 912,557
Other debtors 1,670,581 1,552,994
3,199,565 2,465,551

A contribution was made to an Employee Benefit Trust of £575,000 in the year to 31 August 2010. At the year end the EBT has advanced loans of £575,000 (2023 - £575,000) which are included within other debtors above.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdraft 50,000 252,034
Hire purchase contracts - 1,047
Trade creditors 1,704,385 1,693,600
Corporation tax 504,245 212,830
Social security and other taxes 362,201 279,277
Other creditors 444,779 111,342
Directors' current accounts 1,202 767
3,066,812 2,550,897

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 37,500 50,000
Bank loans - 2-5 years - 37,500
37,500 87,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 202,034
Bank loans 87,500 137,500
Hire purchase contracts - 1,047
87,500 340,581

STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,698 5,708

Deferred
tax
£   
Balance at 1 September 2023 5,708
Credit to Income Statement during year (2,010 )
Balance at 31 August 2024 3,698

The provision for deferred taxation is made up of accelerated capital allowances.

11. OTHER FINANCIAL COMMITMENTS

The Company has a total commitments, guarantees and contingencies as at year end 2024 of £469,475 (2023: £275,199) included in the above are minimum lease payments under non-cancellable operating leases, falling due as follows:


20242023
££

Within one year153,68777,057
Between one and five years315,988198,142
After five years--


469,475275,199

12. RELATED PARTY DISCLOSURES

The bank overdraft in the company is secured against a property owned by Stanford Properties Limited, a company in which the directors have an interest.

The directors have provided personal guarantees of £20,000 in respect of bank facilities.

Included in debtors are two loans totalling £1,020,517 (2023 £923,042) to Companies also under the control of the director's. The loan's are interest free and repayable upon demand.

Included in creditors is a loan totalling £Nil (2023 £32,088) to a company also under the control of the director's. The loan is interest free and repayable upon demand.

STANFORD COACH WORKS & MOBILITY
SERVICES LTD (REGISTERED NUMBER: 03615021)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

13. DIRECTORS GUARANTEE

The company has entered into a guarantee on behalf of the directors in respect of lease agreements taken on by the directors. The guarantee lasts for the life of the leases of less than 1 year remains outstanding at the Company's year end. At the year end the exposure under the guarantee amounted to £Nil (2023 £2,986). The amount of the guarantee is decreasing as the payments are made. No amounts are included in the profit and loss account under this guarantee during the year.