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REGISTERED NUMBER: 06311278 (England and Wales)















SOVEREIGN COACHES LIMITED

Unaudited Financial Statements for the Year Ended 31 July 2024






SOVEREIGN COACHES LIMITED (REGISTERED NUMBER: 06311278)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SOVEREIGN COACHES LIMITED

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr Sarfraiz Ali





REGISTERED OFFICE: Watery Lane
Willenhall
Wolverhampton
West Midlands
WV13 3SU





REGISTERED NUMBER: 06311278 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

SOVEREIGN COACHES LIMITED (REGISTERED NUMBER: 06311278)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 223,631 287,087

CURRENT ASSETS
Debtors 5 406,511 368,355
Cash at bank and in hand 38,580 42,085
445,091 410,440
CREDITORS
Amounts falling due within one year 6 269,214 257,085
NET CURRENT ASSETS 175,877 153,355
TOTAL ASSETS LESS CURRENT
LIABILITIES

399,508

440,442

CREDITORS
Amounts falling due after more than one
year

7

(18,605

)

(32,938

)

PROVISIONS FOR LIABILITIES (54,138 ) (69,888 )
NET ASSETS 326,765 337,616

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 326,763 337,614
326,765 337,616

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 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.

SOVEREIGN COACHES LIMITED (REGISTERED NUMBER: 06311278)

Balance Sheet - continued
31 July 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 14 May 2025 and were signed by:





Mr Sarfraiz Ali - Director


SOVEREIGN COACHES LIMITED (REGISTERED NUMBER: 06311278)

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


1. STATUTORY INFORMATION

Sovereign Coaches Limited 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. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost and Straight line over 7 years

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
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.

SOVEREIGN COACHES LIMITED (REGISTERED NUMBER: 06311278)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 7,659 13,404 499,907 41,439 562,409
Additions - - 49,550 - 49,550
Disposals - - (25,990 ) - (25,990 )
At 31 July 2024 7,659 13,404 523,467 41,439 585,969
DEPRECIATION
At 1 August 2023 7,659 13,342 219,643 34,678 275,322
Charge for year - 20 114,545 2,148 116,713
Eliminated on disposal - - (14,697 ) - (14,697 )
Transfer to ownership - - (15,000 ) - (15,000 )
At 31 July 2024 7,659 13,362 304,491 36,826 362,338
NET BOOK VALUE
At 31 July 2024 - 42 218,976 4,613 223,631
At 31 July 2023 - 62 280,264 6,761 287,087

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023 163,000
Additions 40,000
Transfer to ownership (25,000 )
At 31 July 2024 178,000
DEPRECIATION
At 1 August 2023 26,100
Charge for year 52,267
Transfer to ownership (15,000 )
At 31 July 2024 63,367
NET BOOK VALUE
At 31 July 2024 114,633
At 31 July 2023 136,900

SOVEREIGN COACHES LIMITED (REGISTERED NUMBER: 06311278)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 203,726 138,278
Other debtors 166,512 165,312
Tax - 24,314
VAT 15,057 20,293
Prepayments 21,216 20,158
406,511 368,355

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 41,251 27,417
Trade creditors 40,068 42,525
Social security and other taxes 45,843 84,818
Other creditors 49,839 54,248
Directors' current accounts 88,615 44,827
Accrued expenses 3,598 3,250
269,214 257,085

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 18,605 32,938

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Shahzad Ali.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Sovereign Coaches Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sovereign Coaches Limited for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Sovereign Coaches Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sovereign Coaches Limited and state those matters that we have agreed to state to the director of Sovereign Coaches Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sovereign Coaches Limited and its director for our work or for this report.

It is your duty to ensure that Sovereign Coaches Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sovereign Coaches Limited. You consider that Sovereign Coaches Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sovereign Coaches Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


14 May 2025