Registered number
04014172
The Tisbury and District Community Minibus Ltd
Filleted Accounts
31 March 2025
The Tisbury and District Community Minibus Ltd
Registered number: 04014172
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 58,273 19,120
Current assets
Debtors 4 4,336 5,857
Cash at bank and in hand 52,941 99,996
57,277 105,853
Creditors: amounts falling due within one year 5 (6,491) (7,543)
Net current assets 50,786 98,310
Total assets less current liabilities 109,059 117,430
Creditors: amounts falling due after more than one year 6 - (5,725)
Net assets 109,059 111,705
Capital and reserves
Profit and loss account 109,059 111,705
Shareholders' funds 109,059 111,705
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Christopher Ewin
Director
Approved by the board on 30 May 2025
The Tisbury and District Community Minibus Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 7 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2024 120,027
Additions 55,121
At 31 March 2025 175,148
Depreciation
At 1 April 2024 100,907
Charge for the year 15,968
At 31 March 2025 116,875
Net book value
At 31 March 2025 58,273
At 31 March 2024 19,120
4 Debtors 2025 2024
£ £
Trade debtors 1,620 1,945
Prepayments 2,293 3,122
Value added tax 423 790
4,336 5,857
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts - 6,300
Trade creditors 338 288
Retained income (grant) 6,153 955
6,491 7,543
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts - 5,725
7 Other information
The Tisbury and District Community Minibus Ltd is a charitable company limited by guarantee (registered charity number 1085583) P191 and incorporated in England. Its registered office is:
1 Ridgeway
Chilmark
Salisbury
Wiltshire
SP3 5BX
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