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REGISTERED NUMBER: SC431260 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

THE DURNESS BUS LTD

THE DURNESS BUS LTD (REGISTERED NUMBER: SC431260)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE DURNESS BUS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: Ms S Fuller
N R Fuller





REGISTERED OFFICE: 10 Knockbreck Street
Tain
Ross-Shire
IV19 1BJ





REGISTERED NUMBER: SC431260 (Scotland)





ACCOUNTANTS: Goldwells Ltd
10 Knockbreck Street
Tain
Ross-Shire
IV19 1BJ

THE DURNESS BUS LTD (REGISTERED NUMBER: SC431260)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 501,510 524,966
501,510 524,966

CURRENT ASSETS
Debtors 6 33,836 42,021
Cash at bank and in hand 81,719 64,606
115,555 106,627
CREDITORS
Amounts falling due within one year 7 135,253 173,135
NET CURRENT LIABILITIES (19,698 ) (66,508 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

481,812

458,458

CREDITORS
Amounts falling due after more than one
year

8

301,791

333,933
NET ASSETS 180,021 124,525

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 180,019 124,523
180,021 124,525

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

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

THE DURNESS BUS LTD (REGISTERED NUMBER: SC431260)

BALANCE SHEET - continued
31ST 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 9th May 2025 and were signed on its behalf by:





N R Fuller - Director


THE DURNESS BUS LTD (REGISTERED NUMBER: SC431260)

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

1. STATUTORY INFORMATION

The Durness Bus 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 20% on reducing balance and 20% on cost

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.

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 22 (2023 - 20 ) .

THE DURNESS BUS LTD (REGISTERED NUMBER: SC431260)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2023
and 31st August 2024 20,000
AMORTISATION
At 1st September 2023
and 31st August 2024 20,000
NET BOOK VALUE
At 31st August 2024 -
At 31st August 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st September 2023 57,000 961,698 1,018,698
Additions 8,141 148,080 156,221
Disposals - (23,000 ) (23,000 )
At 31st August 2024 65,141 1,086,778 1,151,919
DEPRECIATION
At 1st September 2023 1,140 492,592 493,732
Charge for year 1,140 178,537 179,677
Eliminated on disposal - (23,000 ) (23,000 )
At 31st August 2024 2,280 648,129 650,409
NET BOOK VALUE
At 31st August 2024 62,861 438,649 501,510
At 31st August 2023 55,860 469,106 524,966

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,172 31,515
Other debtors 29,664 10,506
33,836 42,021

THE DURNESS BUS LTD (REGISTERED NUMBER: SC431260)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 13,283
Hire purchase contracts 111,769 116,693
Trade creditors (1 ) 25,055
Taxation and social security 5,110 728
Other creditors 8,375 17,376
135,253 173,135

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,500 14,273
Hire purchase contracts 284,491 309,860
Other creditors 9,800 9,800
301,791 333,933