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REGISTERED NUMBER: SC315440 (Scotland)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 July 2024

for

McNairn's Coaches Ltd

McNairn's Coaches Ltd (Registered number: SC315440)






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




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


McNairn's Coaches Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mrs E McNairn
J J McNairn





SECRETARY: J J McNairn





REGISTERED OFFICE: 191 Station Road
Shotts
Lanarkshire
ML7 4BA





REGISTERED NUMBER: SC315440 (Scotland)





ACCOUNTANTS: EAC Accountancy Limited
191 Station Road
Shotts
North Lanarkshire
ML7 4BA

McNairn's Coaches Ltd (Registered number: SC315440)

Report of the Directors
for the Year Ended 31 July 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of bus and coach operators.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

Mrs E McNairn
J J McNairn

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J McNairn - Director


6 March 2025

McNairn's Coaches Ltd (Registered number: SC315440)

Income Statement
for the Year Ended 31 July 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 1,918,144 2,035,826

Cost of sales 931,047 972,867
GROSS PROFIT 987,097 1,062,959

Administrative expenses 1,226,794 1,158,859
(239,697 ) (95,900 )

Other operating income 70,000 -
OPERATING LOSS 4 (169,697 ) (95,900 )


Interest payable and similar
expenses

7,600

7,604
LOSS BEFORE TAXATION (177,297 ) (103,504 )

Tax on loss (24,187 ) 16,781
LOSS FOR THE FINANCIAL YEAR (153,110 ) (120,285 )

McNairn's Coaches Ltd (Registered number: SC315440)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 297,745 425,044

CURRENT ASSETS
Debtors 6 323,164 301,441
Cash at bank 181,035 160,933
504,199 462,374
CREDITORS
Amounts falling due within one year 7 706,034 595,964
NET CURRENT LIABILITIES (201,835 ) (133,590 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,910

291,454

CREDITORS
Amounts falling due after more than
one year

8

-

(18,247

)

PROVISIONS FOR LIABILITIES (56,572 ) (80,759 )
NET ASSETS 39,338 192,448

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 39,337 192,447
39,338 192,448

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

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

McNairn's Coaches Ltd (Registered number: SC315440)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:





J McNairn - Director


McNairn's Coaches Ltd (Registered number: SC315440)

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

1. STATUTORY INFORMATION

McNairn's Coaches Ltd is a private company, limited by shares , registered in Scotland. 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
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.

25% 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.

McNairn's Coaches Ltd (Registered number: SC315440)

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

2. ACCOUNTING POLICIES - continued

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 47 (2023 - 47 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

31.7.24 31.7.23
£    £   
Depreciation - owned assets 99,252 141,681

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 993,086
Additions 2,470
Disposals (109,470 )
At 31 July 2024 886,086
DEPRECIATION
At 1 August 2023 568,042
Charge for year 99,252
Eliminated on disposal (78,953 )
At 31 July 2024 588,341
NET BOOK VALUE
At 31 July 2024 297,745
At 31 July 2023 425,044

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 285,055 243,548
Other debtors 38,109 57,893
323,164 301,441

McNairn's Coaches Ltd (Registered number: SC315440)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 25,846 59,292
Trade creditors 461,798 514,771
Taxation and social security 12,493 17,401
Other creditors 205,897 4,500
706,034 595,964

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts - 18,247