| REGISTERED NUMBER: |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| FOR |
| D&G BUS LIMITED |
| REGISTERED NUMBER: |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| FOR |
| D&G BUS LIMITED |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 5 |
| Statement of Income and Retained Earnings | 8 |
| Statement of Financial Position | 9 |
| Statement of Cash Flows | 10 |
| Notes to the Statement of Cash Flows | 11 |
| Notes to the Financial Statements | 12 |
| D&G BUS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Auditors: |
| 1st Floor Waterside House |
| Waterside Drive |
| Wigan |
| Lancashire |
| WN3 5AZ |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| The directors present their strategic report for the year ended 30 April 2024. |
| Review of business |
| The company has continued to be a bus service operator. |
| The results for the year show turnover of £16,279,563 (2023: £15,844,270) and a pre-tax profit of £2,673,386 (2023:£983,416 ). Included within turnover the company received government grants of £283,700 (2023:£1,080,915). |
| The directors are pleased that trading conditions have improved during the year and this has allowed the company to embark on a significant CAPEX program of fleet improvement and enhancement to depot facilities and equipment. |
| During the year to April 24, the company has invested £1.7m in its asset base and an additional £5.0m in the year ended April 25. It is the directors intention to continue this program with future performance dictating the extent of the investment. |
| The directors have assessed the main risks facing the company as being the commercial risks in respect of competition and overall market conditions, liquidity risk and the price of fuel which is a key issue for the company. |
| The directors consider the key performance indicators of the business to be: |
| 2024 | 2023 | % change |
| Turnover | £16,279,563 | £15,844,270 | 2.7% |
| Operating (loss)/profit | £2,658,642 | £996,931 | 166.7% |
| Profit/(loss) after tax | £2,062,401 | £933,552 | 120.9% |
| Number of employees | 359 | 277 | 29.6% |
| Principal risks and uncertainties |
| The bus service sector has seen consistent pressure on margins as a result of competition and market conditions. The directors continue to place service delivery as a key performance indicator and every effort is made to ensure delivery for the customer is as high as it can be across all depots and services. |
| The company has exposure to two main areas of financial risk - liquidity risk and fuel prices. |
| Liquidity Risk |
| The objective of the group in managing its liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The group expects to meet its financial obligations through operating cash flows. The group is reliant on asset funders to finance new vehicles purchases. The company always operates within its agreed banking facilities. All income is generated within the UK and all suppliers are UK based so the company has no requirement to enter into any hedging arrangements relating to its debtors and creditors. |
| Fuel Prices |
| Fuel costs are a significant cost to the organisation and and the board of directors does use a fuel hedge to fix the price of fuel upto twelve months in advance to provide certainty of a very volatile cost. The hedging policy is periodically reviewed and the directors are confident that the policy is appropriate to the risk of fuel price volatility. |
| Environmental policy |
| The company recognises its corporate responsibility to carry out its operations whilst minimising its impact on the environment. The directors continued aim is to reduce waste wherever possible and comply with all environmental legislation. |
| Human resources and employment policy |
| The company ensures that employees are provided with information of relevance to them as employees by means of direct communication and notice boards. The involvement of the employees in the company's performance is encouraged through various employee schemes. The company seeks to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance. |
| Applications for employment by disabled persons are fully considered having regard to the aptitudes and abilities of each applicant. Training and career development and promotion of disabled persons is, as far as possible, identical to that of other employees who are not disabled. Arrangement are made, wherever possible, for retraining employees who become disabled, to perform work identified as appropriate to their aptitudes and abilities. |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| Health and safety |
| The company is committed to achieving high standards in health and safety management and strives to make its depots and offices safe environment for both its employees and customers alike. |
| On behalf of the board: |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| The directors present their report with the financial statements of the company for the year ended 30 April 2024. |
| Principal activity |
| The principal activity of the company in the year under review was that of a bus service operator. |
| Dividends |
| The total distribution of dividends for the year ended 30 April 2024 will be £ |
| Directors |
| Other changes in directors holding office are as follows: |
| Statement of directors' responsibilities |
| The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| Statement as to disclosure of information to auditors |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| Auditors |
| The auditors, Sumer Auditco Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| On behalf of the board: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| D&G BUS LIMITED |
| Opinion |
| We have audited the financial statements of D&G Bus Limited (the 'company') for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| D&G BUS LIMITED |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below : |
| - Consideration was given to the entity's susceptibility to material misstatement at all times during the audit including consideration of how fraud could occur. This involved consideration of the nature of the entity's activities and transactions with the potential identification of fraud |
| - Identification of key laws and regulations considered central to the entity, including a review of any policies and procedures in place to ensure compliance. Key laws and regulations identified include the UK Companies Act, tax legislation and health and safety regulations |
| - Ensured that the engagement team had the necessary competence and capabilities to identify any examples of non-compliance at all stages |
| - Audit work was completed in all relevant areas that were deemed to be appropriate for the client and the associated risks in respect of potential misstatements, including fraud. Our audit work was designed to assess these risks in all areas and included enquiry of management, testing the appropriateness of journal entries, reviewing financial statement disclosures and tracing to relevant documentation as well as the consideration of the risk of potential management override |
| Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| D&G BUS LIMITED |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| 1st Floor Waterside House |
| Waterside Drive |
| Wigan |
| Lancashire |
| WN3 5AZ |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| STATEMENT OF INCOME AND |
| RETAINED EARNINGS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 30.4.24 | 30.4.23 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| 2,683,571 | 996,931 |
| Interest payable and similar expenses | 6 |
| PROFIT BEFORE TAXATION |
| Tax on profit | 7 |
| PROFIT FOR THE FINANCIAL YEAR |
| Retained earnings at beginning of year |
| Dividends | 8 | ( |
) | ( |
) |
| RETAINED EARNINGS AT END OF YEAR |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| STATEMENT OF FINANCIAL POSITION |
| 30 APRIL 2024 |
| 30.4.24 | 30.4.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 9 |
| Tangible assets | 10 |
| Investments | 11 |
| CURRENT ASSETS |
| Stocks | 12 |
| Debtors | 13 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 14 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
15 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 18 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 19 |
| Retained earnings | 20 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| STATEMENT OF CASH FLOWS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 30.4.24 | 30.4.23 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Interest paid | ( |
) | ( |
) |
| Tax paid | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Interest received |
| Net cash from investing activities | ( |
) | ( |
) |
| Cash flows from financing activities |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| Increase/(decrease) in cash and cash equivalents | ( |
) |
| Cash and cash equivalents at beginning of year |
2 |
1,288,716 |
| Cash and cash equivalents at end of year | 2 | 1,274,364 | 762,700 |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| NOTES TO THE STATEMENT OF CASH FLOWS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| Loss on disposal of fixed assets |
| Finance costs | 10,185 | 13,515 |
| Finance income | (24,929 | ) | - |
| 3,339,461 | 1,442,016 |
| Decrease/(increase) in stocks | ( |
) |
| Increase in trade and other debtors | ( |
) | ( |
) |
| Decrease in trade and other creditors | ( |
) | ( |
) |
| Cash generated from operations |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
| Year ended 30 April 2024 |
| 30.4.24 | 1.5.23 |
| £ | £ |
| Cash and cash equivalents | 1,274,364 | 762,700 |
| Year ended 30 April 2023 |
| 30.4.23 | 1.5.22 |
| £ | £ |
| Cash and cash equivalents | 762,700 | 1,288,716 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.5.23 | Cash flow | At 30.4.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 762,700 | 511,664 | 1,274,364 |
| 762,700 | 1,274,364 |
| Total | 762,700 | 511,664 | 1,274,364 |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 1. | STATUTORY INFORMATION |
| D&G Bus Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company will have adequate funding and resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing their financial statements. |
| Preparation of consolidated financial statements |
| The financial statements contain information about D&G Bus Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Centrebus Limited, 43 Wenlock Way, Leicester, LE4 9HU. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
| Turnover relates to revenue earned from the rendering of services. These services relate to the operation of bus services. |
| Turnover is made up of on-bus revenue which is recognised immediately on receipt, as well as contract income which is recognised in line with the terms of the contact and at the point at the which the company has satisfied the relevant terms of the contract to be entitled to the income. |
| Goodwill |
| Acquired goodwill has historically been written off in equal instalments over its useful economic life of 5 years. Goodwill has now been fully written off and has a nil carrying value in the financial statements. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| Taxation |
| The tax expenses for the year comprises current and deferred tax. Tax is recognised in the income statement, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date. |
| Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Short term debtors and creditors receivable |
| Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the income statement |
| 4. | EMPLOYEES AND DIRECTORS |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Wages and salaries |
| The average number of employees during the year was as follows: |
| 30.4.24 | 30.4.23 |
| Drivers | 292 | 222 |
| Cleaning & Engineering | 59 | 46 |
| Administration | 8 | 9 |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Directors' remuneration |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Other operating leases |
| Depreciation - owned assets |
| Loss on disposal of fixed assets |
| Auditors' remuneration | ( |
) |
| Government grants received | ( |
) | ( |
) |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Other interest |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax |
| Tax on profit |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Adjustment in relation to losses group relieved | (112,467 | ) | (170,706 | ) |
| Adjustment in respect of super deduction claimed on additions | - | (12,182 | ) |
| Deferred tax asset not provided | - | (13,879 | ) |
| Adjustments in relation to movement on non-qualifying assets | 55,105 | - |
| Total tax charge | 610,985 | 49,864 |
| 8. | DIVIDENDS |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Ordinary shares of £1 each |
| Interim | 51,005 | 380,570 |
| 9. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 May 2023 |
| and 30 April 2024 |
| AMORTISATION |
| At 1 May 2023 |
| and 30 April 2024 |
| NET BOOK VALUE |
| At 30 April 2024 |
| At 30 April 2023 |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 10. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 April 2024 |
| DEPRECIATION |
| At 1 May 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2024 |
| NET BOOK VALUE |
| At 30 April 2024 |
| At 30 April 2023 |
| 11. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 May 2023 |
| and 30 April 2024 |
| NET BOOK VALUE |
| At 30 April 2024 |
| At 30 April 2023 |
| 12. | STOCKS |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Stocks |
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by participating interests | 37,289 | 28,594 |
| Other debtors |
| VAT |
| Prepayments |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Other creditors |
| 16. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Within one year |
| Between one and five years |
| 17. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Other creditors | 106,479 | 244,248 |
| Financing in relation to vehicle purchases has been provided by a related company and these amounts are shown within other creditors. These amounts are secured against the specific assets involved. |
| Security has been provided to Santander UK Plc by way a debenture dated 23rd June 2015. This incorporates a fixed and floating charge over all the assets of the company. |
| 18. | PROVISIONS FOR LIABILITIES |
| 30.4.24 | 30.4.23 |
| £ | £ |
| Deferred tax | 317,034 | 49,864 |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2023 |
| Provided during year |
| Balance at 30 April 2024 |
| D&G BUS LIMITED (REGISTERED NUMBER: 06918592) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2024 |
| 19. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
| value: | £ | £ |
| Ordinary A | £1 | 74 | 74 |
| Ordinary B | £1 | 26 | 26 |
| 100 | 100 |
| 20. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 May 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 April 2024 |
| 21. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| At the year end date an amount of £37,289 was outstanding from a related company. |
| 22. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Centrebus Limited. |