IRIS Accounts Production v25.1.0.734 06918592 Board of Directors 1.5.23 30.4.24 30.4.24 Medium entities true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069185922023-04-30069185922024-04-30069185922023-05-012024-04-30069185922022-04-30069185922022-05-012023-04-30069185922023-04-3006918592ns15:EnglandWales2023-05-012024-04-3006918592ns14:PoundSterling2023-05-012024-04-3006918592ns10:Director12023-05-012024-04-3006918592ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3006918592ns10:MediumEntities2023-05-012024-04-3006918592ns10:Audited2023-05-012024-04-3006918592ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3006918592ns10:Medium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3006918592ns10:FullAccounts2023-05-012024-04-300691859212023-05-012024-04-3006918592ns10:OrdinaryShareClass22023-05-012024-04-3006918592ns10:OrdinaryShareClass32023-05-012024-04-3006918592ns10:Director22023-05-012024-04-3006918592ns10:Director42023-05-012024-04-3006918592ns10:RegisteredOffice2023-05-012024-04-3006918592ns10:Director32023-05-012024-04-3006918592ns5:RetainedEarningsAccumulatedLosses2023-04-3006918592ns5:RetainedEarningsAccumulatedLosses2022-04-3006918592ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-3006918592ns5:RetainedEarningsAccumulatedLosses2022-05-012023-04-3006918592ns5:RetainedEarningsAccumulatedLosses2024-04-3006918592ns5:RetainedEarningsAccumulatedLosses2023-04-3006918592ns5:CurrentFinancialInstruments2024-04-3006918592ns5:CurrentFinancialInstruments2023-04-3006918592ns5:Non-currentFinancialInstruments2024-04-3006918592ns5:Non-currentFinancialInstruments2023-04-3006918592ns5:ShareCapital2024-04-3006918592ns5:ShareCapital2023-04-3006918592ns5:NetGoodwill2023-05-012024-04-3006918592ns5:PlantMachinery2023-05-012024-04-3006918592ns5:FurnitureFittings2023-05-012024-04-3006918592ns5:MotorVehicles2023-05-012024-04-3006918592ns5:OwnedAssets2023-05-012024-04-3006918592ns5:OwnedAssets2022-05-012023-04-3006918592112023-05-012024-04-3006918592112022-05-012023-04-300691859212023-05-012024-04-300691859212022-05-012023-04-3006918592ns5:NetGoodwill2023-04-3006918592ns5:NetGoodwill2024-04-3006918592ns5:NetGoodwill2023-04-3006918592ns5:LeaseholdImprovements2023-04-3006918592ns5:PlantMachinery2023-04-3006918592ns5:FurnitureFittings2023-04-3006918592ns5:MotorVehicles2023-04-3006918592ns5:LeaseholdImprovements2023-05-012024-04-3006918592ns5:LeaseholdImprovements2024-04-3006918592ns5:PlantMachinery2024-04-3006918592ns5:FurnitureFittings2024-04-3006918592ns5:MotorVehicles2024-04-3006918592ns5:LeaseholdImprovements2023-04-3006918592ns5:PlantMachinery2023-04-3006918592ns5:FurnitureFittings2023-04-3006918592ns5:MotorVehicles2023-04-3006918592ns5:CostValuation2023-04-3006918592ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3006918592ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3006918592ns5:WithinOneYear2024-04-3006918592ns5:WithinOneYear2023-04-3006918592ns5:BetweenOneFiveYears2024-04-3006918592ns5:BetweenOneFiveYears2023-04-3006918592ns5:AllPeriods2024-04-3006918592ns5:AllPeriods2023-04-3006918592ns5:DeferredTaxation2023-04-3006918592ns5:DeferredTaxation2023-05-012024-04-3006918592ns5:DeferredTaxation2024-04-3006918592ns10:OrdinaryShareClass22024-04-3006918592ns10:OrdinaryShareClass32024-04-30
REGISTERED NUMBER: 06918592 (England and Wales)













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: Mr J H Peddle
Mr D Brookes
Mr C F Brown





Registered office: Mossfield Road
Longton
Stoke on Trent
ST3 5BW





Registered number: 06918592 (England and Wales)





Auditors: Sumer Auditco Limited
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:





Mr C F Brown - Director


23 May 2025

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 £ 51,005 .

Directors
Mr J H Peddle has held office during the whole of the period from 1 May 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr K Crawford - resigned 30 October 2023
Mr D Brookes - appointed 30 October 2023
Mr C F Brown - appointed 2 November 2023

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:





Mr C F Brown - Director


23 May 2025

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.




Catherine Rogers BSc FCA (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

23 May 2025

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 16,279,563 15,844,270

Cost of sales 11,781,539 13,215,262
GROSS PROFIT 4,498,024 2,629,008

Administrative expenses 1,839,382 1,632,077
OPERATING PROFIT 5 2,658,642 996,931

Interest receivable and similar income 24,929 -
2,683,571 996,931

Interest payable and similar expenses 6 10,185 13,515
PROFIT BEFORE TAXATION 2,673,386 983,416

Tax on profit 7 610,985 49,864
PROFIT FOR THE FINANCIAL YEAR 2,062,401 933,552

Retained earnings at beginning of year 2,117,751 1,564,769

Dividends 8 (51,005 ) (380,570 )

RETAINED EARNINGS AT END OF YEAR 4,129,147 2,117,751

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 3,273,210 2,230,199
Investments 11 100 100
3,273,310 2,230,299

CURRENT ASSETS
Stocks 12 241,269 291,276
Debtors 13 2,378,169 1,939,317
Cash at bank 1,274,364 762,700
3,893,802 2,993,293
CREDITORS
Amounts falling due within one year 14 2,658,505 2,949,398
NET CURRENT ASSETS 1,235,297 43,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,508,607

2,274,194

CREDITORS
Amounts falling due after more than one
year

15

(62,326

)

(106,479

)

PROVISIONS FOR LIABILITIES 18 (317,034 ) (49,864 )
NET ASSETS 4,129,247 2,117,851

CAPITAL AND RESERVES
Called up share capital 19 100 100
Retained earnings 20 4,129,147 2,117,751
SHAREHOLDERS' FUNDS 4,129,247 2,117,851

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





Mr C F Brown - Director


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 2,271,755 564,029
Interest paid (10,185 ) (16,624 )
Tax paid - (38,484 )
Net cash from operating activities 2,261,570 508,921

Cash flows from investing activities
Purchase of tangible fixed assets (1,730,239 ) (661,980 )
Sale of tangible fixed assets 6,409 7,613
Interest received 24,929 -
Net cash from investing activities (1,698,901 ) (654,367 )

Cash flows from financing activities
Equity dividends paid (51,005 ) (380,570 )
Net cash from financing activities (51,005 ) (380,570 )

Increase/(decrease) in cash and cash equivalents 511,664 (526,016 )
Cash and cash equivalents at beginning
of year

2

762,700

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 2,673,386 983,416
Depreciation charges 671,451 430,351
Loss on disposal of fixed assets 9,368 14,734
Finance costs 10,185 13,515
Finance income (24,929 ) -
3,339,461 1,442,016
Decrease/(increase) in stocks 50,007 (94,210 )
Increase in trade and other debtors (853,905 ) (685,190 )
Decrease in trade and other creditors (263,808 ) (98,587 )
Cash generated from operations 2,271,755 564,029

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
762,700 511,664 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 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. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line

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 7,731,364 7,880,766

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
359 277

30.4.24 30.4.23
£    £   
Directors' remuneration 28,076 30,779

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.4.24 30.4.23
£    £   
Other operating leases 126,816 145,456
Depreciation - owned assets 671,451 430,351
Loss on disposal of fixed assets 9,368 14,734
Auditors' remuneration (664 ) 17,250
Government grants received (283,700 ) (1,080,915 )

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 10,185 13,515

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 343,815 -

Deferred tax 267,170 49,864
Tax on profit 610,985 49,864

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 2,673,386 983,416
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

668,347

245,854

Effects of:
Expenses not deductible for tax purposes - 777
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 38,001
AMORTISATION
At 1 May 2023
and 30 April 2024 38,001
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 272,585 562,589 8,135 6,567,965 7,411,274
Additions 135,082 233,677 - 1,361,480 1,730,239
Disposals - - - (68,740 ) (68,740 )
At 30 April 2024 407,667 796,266 8,135 7,860,705 9,072,773
DEPRECIATION
At 1 May 2023 272,585 375,044 7,768 4,525,678 5,181,075
Charge for year 5,042 65,085 91 601,233 671,451
Eliminated on disposal - - - (52,963 ) (52,963 )
At 30 April 2024 277,627 440,129 7,859 5,073,948 5,799,563
NET BOOK VALUE
At 30 April 2024 130,040 356,137 276 2,786,757 3,273,210
At 30 April 2023 - 187,545 367 2,042,287 2,230,199

11. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 100
NET BOOK VALUE
At 30 April 2024 100
At 30 April 2023 100

12. STOCKS
30.4.24 30.4.23
£    £   
Stocks 241,269 291,276

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,541,329 1,260,887
Amounts owed by group undertakings - 415,053
Amounts owed by participating interests 37,289 28,594
Other debtors 475,518 -
VAT 174,796 158,936
Prepayments 149,237 75,847
2,378,169 1,939,317

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 616,905 599,193
Amounts owed to group undertakings 417,220 613,066
Tax 343,815 -
Social security and other taxes 233,323 174,391
Other creditors 476,362 1,162,888
Accrued expenses 570,880 399,860
2,658,505 2,949,398

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 62,326 106,479

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 160,620 26,667
Between one and five years 533,592 -
694,212 26,667

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 49,864
Provided during year 267,170
Balance at 30 April 2024 317,034

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: £    £   
74 Ordinary A £1 74 74
26 Ordinary B £1 26 26
100 100

20. RESERVES
Retained
earnings
£   

At 1 May 2023 2,117,751
Profit for the year 2,062,401
Dividends (51,005 )
At 30 April 2024 4,129,147

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.