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REGISTERED NUMBER: SC637116 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BRUCE COACHES (SCOTLAND) LTD

BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRUCE COACHES (SCOTLAND) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: J Bruce Jnr





REGISTERED OFFICE: 40 Main Street
Salsburgh
Shotts
ML7 4LW





REGISTERED NUMBER: SC637116 (Scotland)

BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 988,210 1,158,723
Investments 5 10,000 10,000
998,210 1,168,723

CURRENT ASSETS
Stocks 6 15,400 39,898
Debtors 7 596,522 759,943
Cash at bank and in hand 1,516,397 1,015,802
2,128,319 1,815,643
CREDITORS
Amounts falling due within one year 8 861,392 914,506
NET CURRENT ASSETS 1,266,927 901,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,265,137

2,069,860

CREDITORS
Amounts falling due after more than
one year

9

(207,349

)

(554,260

)

PROVISIONS FOR LIABILITIES 10 (160,339 ) (123,498 )
NET ASSETS 1,897,449 1,392,102

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 1,897,299 1,391,952
SHAREHOLDERS' FUNDS 1,897,449 1,392,102

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 28 April 2025 and were signed by:





J Bruce Jnr - Director


BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)

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

1. STATUTORY INFORMATION

Bruce Coaches (Scotland) 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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Coaches - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

Equity instruments
The company only enters into basic financial instrument 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 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 the statement of Income and Retained Earnings.

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.


BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 68 (2023 - 70 ) .

BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Coaches machinery fittings
£    £    £   
COST
At 1 January 2024 1,776,040 79,535 14,435
Additions - 97,666 -
Disposals - (48,500 ) -
At 31 December 2024 1,776,040 128,701 14,435
DEPRECIATION
At 1 January 2024 885,245 31,045 3,609
Charge for year 222,699 24,706 2,706
Eliminated on disposal - (18,945 ) -
At 31 December 2024 1,107,944 36,806 6,315
NET BOOK VALUE
At 31 December 2024 668,096 91,895 8,120
At 31 December 2023 890,795 48,490 10,826

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 276,044 20,358 2,166,412
Additions 112,093 - 209,759
Disposals (48,632 ) - (97,132 )
At 31 December 2024 339,505 20,358 2,279,039
DEPRECIATION
At 1 January 2024 82,763 5,027 1,007,689
Charge for year 48,141 3,833 302,085
Eliminated on disposal - - (18,945 )
At 31 December 2024 130,904 8,860 1,290,829
NET BOOK VALUE
At 31 December 2024 208,601 11,498 988,210
At 31 December 2023 193,281 15,331 1,158,723

BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Coaches vehicles Totals
£    £    £   
COST
At 1 January 2024 1,776,040 101,488 1,877,528
Transfer to ownership - (62,488 ) (62,488 )
At 31 December 2024 1,776,040 39,000 1,815,040
DEPRECIATION
At 1 January 2024 885,245 56,242 941,487
Charge for year 222,699 37,775 260,474
Transfer to ownership - (71,470 ) (71,470 )
At 31 December 2024 1,107,944 22,547 1,130,491
NET BOOK VALUE
At 31 December 2024 668,096 16,453 684,549
At 31 December 2023 890,795 45,246 936,041

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 10,000
NET BOOK VALUE
At 31 December 2024 10,000
At 31 December 2023 10,000

6. STOCKS
2024 2023
£    £   
Stocks 15,400 39,898

BRUCE COACHES (SCOTLAND) LTD (REGISTERED NUMBER: SC637116)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 545,074 692,599
Tax 4,480 4,480
VAT 35,917 59,472
Prepayments 11,051 3,392
596,522 759,943

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 321,170 303,694
Trade creditors 157,072 212,251
Tax 212,156 189,170
Social security and other taxes 57,844 75,551
Other creditors 6,026 6,082
Directors' current accounts 3 -
Accrued expenses 107,121 127,758
861,392 914,506

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 207,349 554,260

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 160,339 123,498

Deferred
tax
£   
Balance at 1 January 2024 123,498
Charge to Income Statement during year 36,841
Balance at 31 December 2024 160,339