0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 7,436 7,497 xbrli:pure xbrli:shares iso4217:GBP 01495136 2024-01-01 2024-12-31 01495136 2024-12-31 01495136 2023-12-31 01495136 2023-01-01 2023-12-31 01495136 2023-12-31 01495136 2022-12-31 01495136 core:FurnitureFittings 2024-01-01 2024-12-31 01495136 bus:RegisteredOffice 2024-01-01 2024-12-31 01495136 bus:LeadAgentIfApplicable 2024-01-01 2024-12-31 01495136 bus:Director3 2024-01-01 2024-12-31 01495136 bus:Director4 2024-01-01 2024-12-31 01495136 bus:Director5 2024-01-01 2024-12-31 01495136 bus:Director6 2024-01-01 2024-12-31 01495136 bus:CompanySecretary1 2024-01-01 2024-12-31 01495136 core:PlantMachinery 2023-12-31 01495136 core:FurnitureFittings 2023-12-31 01495136 core:PlantMachinery 2024-12-31 01495136 core:FurnitureFittings 2024-12-31 01495136 core:WithinOneYear 2024-12-31 01495136 core:WithinOneYear 2023-12-31 01495136 core:AfterOneYear 2024-12-31 01495136 core:AfterOneYear 2023-12-31 01495136 core:RetainedEarningsAccumulatedLosses 2023-12-31 01495136 core:RetainedEarningsAccumulatedLosses 2022-12-31 01495136 core:RetainedEarningsAccumulatedLosses 2024-12-31 01495136 core:RetainedEarningsAccumulatedLosses 2023-12-31 01495136 core:ShareCapital 2024-12-31 01495136 core:ShareCapital 2023-12-31 01495136 core:SharePremium 2024-12-31 01495136 core:SharePremium 2023-12-31 01495136 core:PlantMachinery 2023-12-31 01495136 core:FurnitureFittings 2023-12-31 01495136 bus:SmallEntities 2024-01-01 2024-12-31 01495136 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 01495136 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01495136 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01495136 bus:FullAccounts 2024-01-01 2024-12-31 01495136 core:Aircraft 2024-01-01 2024-12-31 01495136 core:Aircraft 2023-12-31 01495136 core:Aircraft 2024-12-31
COMPANY REGISTRATION NUMBER: 01495136
OLDBUS LIMITED
Unaudited Financial Statements
31 December 2024
OLDBUS LIMITED
Financial Statements
Year ended 31 December 2024
Contents
Pages
Officers and professional advisers
1
Directors' report
2
Statement of income and retained earnings
3
Statement of financial position
4 to 5
Notes to the financial statements
6 to 8
The following pages do not form part of the financial statements
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
10
OLDBUS LIMITED
Officers and Professional Advisers
The board of directors
Mr C Skingsley
Mr C A Graham
Mr D R Wetherell
Mr N J Blundell
Company secretary
Mr D R Wetherell
Registered office
Kingfisher House
Hurstwood Grange
Hurstwood Lane
Haywards Heath
West Sussex
RH17 7QX
Accountants
PRB Accountants LLP
Chartered accountants
Kingfisher House
Hurstwood Grange
Hurstwood Lane
Haywards Heath
West Sussex
RH17 7QX
OLDBUS LIMITED
Directors' Report
Year ended 31 December 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .
Directors
The directors who served the company during the year were as follows:
Mr C Skingsley
Mr C A Graham
Mr D R Wetherell
Mr N J Blundell
In accordance with the Articles of Association, Mr N J Blundell retires by rotation and, being eligible, offers himself for re-election.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 22 May 2025 and signed on behalf of the board by:
Mr D R Wetherell
Company Secretary
Registered office:
Kingfisher House
Hurstwood Grange
Hurstwood Lane
Haywards Heath
West Sussex
RH17 7QX
OLDBUS LIMITED
Statement of Income and Retained Earnings
Year ended 31 December 2024
2024
2023
Note
£
£
Turnover
62,370
58,300
Cost of sales
47,292
42,997
--------
--------
Gross profit
15,078
15,303
Administrative expenses
10,218
9,713
--------
--------
Operating profit
4,860
5,590
Other interest receivable and similar income
3,180
2,354
--------
--------
Profit before taxation
4
8,040
7,944
Tax on profit
604
447
-------
-------
Profit for the financial year and total comprehensive income
7,436
7,497
-------
-------
Retained earnings at the start of the year
108,977
101,480
---------
---------
Retained earnings at the end of the year
116,413
108,977
---------
---------
All the activities of the company are from continuing operations.
OLDBUS LIMITED
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
52,883
50,418
Current assets
Debtors
6
29,568
3,240
Cash at bank and in hand
78,261
100,773
---------
---------
107,829
104,013
Creditors: amounts falling due within one year
7
1,649
2,804
---------
---------
Net current assets
106,180
101,209
---------
---------
Total assets less current liabilities
159,063
151,627
Creditors: amounts falling due after more than one year
8
400
400
---------
---------
Net assets
158,663
151,227
---------
---------
Capital and reserves
Called up share capital
42,000
42,000
Share premium account
250
250
Profit and loss account
116,413
108,977
---------
---------
Shareholders funds
158,663
151,227
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OLDBUS LIMITED
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr D R Wetherell
Mr N J Blundell
Director
Director
Company registration number: 01495136
OLDBUS LIMITED
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kingfisher House, Hurstwood Grange, Hurstwood Lane, Haywards Heath, West Sussex, RH17 7QX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
3.1 Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
3.2 Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
3.3 Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
3.4 Income tax
The company is not liable to corporation tax on its main activity as it is a mutual association. Corporation tax, therefore, is only charged on interest received during the year.
3.5 Tangible assets
Tangible fixed assets are normally stated at cost less depreciation.
3.6 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Aircraft restoration & engine
-
10% straight line
Ancillary equipment
-
6% straight line
Airframe: The Airframe purchased in 1989 has since maintained its residual value and no depreciation has, therefore, been provided. The matter will be kept under review annually.
3.7 Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
5,835
5,038
-------
-------
5. Tangible assets
Airframe
Aircraft restoration & engine
Ancillary equipment
Total
£
£
£
£
Cost
At 1 January 2024
31,775
37,747
26,377
95,899
Additions
4,778
3,522
8,300
--------
--------
--------
---------
At 31 December 2024
31,775
42,525
29,899
104,199
--------
--------
--------
---------
Depreciation
At 1 January 2024
33,975
11,506
45,481
Charge for the year
4,249
1,586
5,835
--------
--------
--------
---------
At 31 December 2024
38,224
13,092
51,316
--------
--------
--------
---------
Carrying amount
At 31 December 2024
31,775
4,301
16,807
52,883
--------
--------
--------
---------
At 31 December 2023
31,775
3,772
14,871
50,418
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
1,076
523
Other debtors
28,492
2,717
--------
-------
29,568
3,240
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
550
69
Corporation tax
604
447
Social security and other taxes
1,638
Other creditors
495
650
-------
-------
1,649
2,804
-------
-------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
400
400
----
----
The loan not wholly repayable within five years other than by instalments, comprises the loan in respect of Members' capital. This is the initial capital of the Old Bus Flying Group. There are no fixed terms for the repayment of this capital, nor of payment of interest upon it.
9. Directors' advances, credits and guarantees
No transactions with directors were undertaken such as are required to be disclosed under FRS 102 Section 1A.
OLDBUS LIMITED
Management Information
Year ended 31 December 2024
The following pages do not form part of the financial statements.
OLDBUS LIMITED
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Oldbus Limited
Year ended 31 December 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
PRB Accountants LLP Chartered accountants
Kingfisher House Hurstwood Grange Hurstwood Lane Haywards Heath West Sussex RH17 7QX
2 June 2025