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RC COACHWORKS LTD

Registered Number
SC709701
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

RC COACHWORKS LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

CLARK, Ryan
CLARK, Wendy Louisa

Registered Address

6 Miller Road
Ayr
KA7 2AY

Registered Number

SC709701 (Scotland)
RC COACHWORKS LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets370,35639,137
70,35639,137
Current assets
Debtors14,94627,656
Cash at bank and on hand62,84418,588
77,79046,244
Creditors amounts falling due within one year4(72,154)(42,748)
Net current assets (liabilities)5,6363,496
Total assets less current liabilities75,99242,633
Creditors amounts falling due after one year(2,331)(4,827)
Provisions for liabilities(10,221)(1,014)
Net assets63,44036,792
Capital and reserves
Called up share capital100100
Profit and loss account63,34036,692
Shareholders' funds63,44036,792
The financial statements were approved and authorised for issue by the Board of Directors on 17 June 2025, and are signed on its behalf by:
CLARK, Ryan
Director
Registered Company No. SC709701
RC COACHWORKS LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
Useful life of properties, plant and equipment: The company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this. Recoverability of Debtors The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.
Turnover policy
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.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 October 2348,921
Additions51,254
At 30 September 24100,175
Depreciation and impairment
At 01 October 239,784
Charge for year20,035
At 30 September 2429,819
Net book value
At 30 September 2470,356
At 30 September 2339,137
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,23414,509
Bank borrowings and overdrafts2,1562,156
Taxation and social security32,72216,107
Finance lease and HP contracts16,241-
Other creditors4,67013
Accrued liabilities and deferred income5,1319,963
Total72,15442,748
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.