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REGISTERED NUMBER: 02733896 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

IAN'S LUXURY COACHES LIMITED

IAN'S LUXURY COACHES LIMITED (REGISTERED NUMBER: 02733896)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IAN'S LUXURY COACHES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: I Wilson
Mrs T Wilson





SECRETARY: Mrs T Wilson





REGISTERED OFFICE: Wilson House
3 Oaston Road
Nuneaton
CV11 6JX





REGISTERED NUMBER: 02733896 (England and Wales)





ACCOUNTANTS: Walker Thompson Ltd
Accountants & Registered Auditors
Empress House
43a Binley Road
Coventry
CV3 1HU

IAN'S LUXURY COACHES LIMITED (REGISTERED NUMBER: 02733896)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,266 34,846
37,266 34,846

CURRENT ASSETS
Debtors 6 57,447 44,059
Cash at bank and in hand 3,539 4,210
60,986 48,269
CREDITORS
Amounts falling due within one year 7 148,425 109,598
NET CURRENT LIABILITIES (87,439 ) (61,329 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(50,173

)

(26,483

)

CREDITORS
Amounts falling due after more than one
year

8

(13,140

)

(30,394

)

PROVISIONS FOR LIABILITIES (33 ) (59 )
NET LIABILITIES (63,346 ) (56,936 )

CAPITAL AND RESERVES
Called up share capital 10 80,500 80,500
Retained earnings (143,846 ) (137,436 )
SHAREHOLDERS' FUNDS (63,346 ) (56,936 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IAN'S LUXURY COACHES LIMITED (REGISTERED NUMBER: 02733896)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





Mrs T Wilson - Director


IAN'S LUXURY COACHES LIMITED (REGISTERED NUMBER: 02733896)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Ian's Luxury Coaches 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has incurred operating losses of £4,520 in the year to 31 October 2024 (2023: £6,706). In addition, the company has reported net liabilities for the year ended 31 October 2024 amounting to £63,346 (2023: £56,936).

The directors have confirmed continued support and considers the company retains sufficient working capital to continue trading for the foreseeable future.

On this basis the accounts have been prepared on a going concern basis.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, and is recognised at the time of invoice.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over period of the lease
Fixtures and fittings - 20% on cost
Motor vehicles - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


IAN'S LUXURY COACHES LIMITED (REGISTERED NUMBER: 02733896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 13,850
AMORTISATION
At 1 November 2023
and 31 October 2024 13,850
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2023 40,680 44,312 415,135 500,127
Additions - - 10,169 10,169
At 31 October 2024 40,680 44,312 425,304 510,296
DEPRECIATION
At 1 November 2023 40,680 44,000 380,601 465,281
Charge for year - 156 7,593 7,749
At 31 October 2024 40,680 44,156 388,194 473,030
NET BOOK VALUE
At 31 October 2024 - 156 37,110 37,266
At 31 October 2023 - 312 34,534 34,846

IAN'S LUXURY COACHES LIMITED (REGISTERED NUMBER: 02733896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,638 25,787
Other debtors 19,809 18,272
57,447 44,059

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,080 18,062
Trade creditors 38,678 23,387
Taxation and social security 38,729 36,855
Other creditors 52,938 31,294
148,425 109,598

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,140 30,394

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loan 9,280 17,233

Mr I and Mrs T Wilson have given a personal guarantee to Barclays Bank for £210,000 & Mr I Wilson has provided life insurance as a security for the company's bank borrowings.

Barclays Bank also have a debenture in the form of a fixed and floating charge over the assets of the Company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80,500 Ordinary £1 80,500 80,500

IAN'S LUXURY COACHES LIMITED (REGISTERED NUMBER: 02733896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
I Wilson and Mrs T Wilson
Balance outstanding at start of year 1,164 (16,932 )
Amounts advanced 47,039 31,332
Amounts repaid (54,121 ) (13,236 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,918 ) 1,164