Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-3149No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01false60falsetruefalse 00273953 2024-01-01 2024-12-31 00273953 2023-01-01 2023-12-31 00273953 2024-12-31 00273953 2023-12-31 00273953 1 2024-01-01 2024-12-31 00273953 d:Director1 2024-01-01 2024-12-31 00273953 d:Director4 2024-01-01 2024-12-31 00273953 c:Buildings 2024-01-01 2024-12-31 00273953 c:Buildings 2024-12-31 00273953 c:Buildings 2023-12-31 00273953 c:Buildings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00273953 c:MotorVehicles 2024-01-01 2024-12-31 00273953 c:MotorVehicles 2024-12-31 00273953 c:MotorVehicles 2023-12-31 00273953 c:MotorVehicles c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00273953 c:FurnitureFittings 2024-01-01 2024-12-31 00273953 c:FurnitureFittings 2024-12-31 00273953 c:FurnitureFittings 2023-12-31 00273953 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00273953 c:OfficeEquipment 2024-01-01 2024-12-31 00273953 c:OfficeEquipment 2024-12-31 00273953 c:OfficeEquipment 2023-12-31 00273953 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00273953 c:ComputerEquipment 2024-01-01 2024-12-31 00273953 c:ComputerEquipment 2024-12-31 00273953 c:ComputerEquipment 2023-12-31 00273953 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00273953 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00273953 c:FreeholdInvestmentProperty 2024-12-31 00273953 c:FreeholdInvestmentProperty 2023-12-31 00273953 c:CurrentFinancialInstruments 2024-12-31 00273953 c:CurrentFinancialInstruments 2023-12-31 00273953 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 00273953 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 00273953 c:ShareCapital 2024-12-31 00273953 c:ShareCapital 2023-12-31 00273953 c:CapitalRedemptionReserve 2024-12-31 00273953 c:CapitalRedemptionReserve 2023-12-31 00273953 c:RevaluationReserve 2024-12-31 00273953 c:RevaluationReserve 2023-12-31 00273953 c:RetainedEarningsAccumulatedLosses 2024-12-31 00273953 c:RetainedEarningsAccumulatedLosses 2023-12-31 00273953 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 00273953 c:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00273953 c:RetirementBenefitObligationsDeferredTax 2024-12-31 00273953 c:RetirementBenefitObligationsDeferredTax 2023-12-31 00273953 c:OtherDeferredTax 2024-12-31 00273953 c:OtherDeferredTax 2023-12-31 00273953 d:FRS102 2024-01-01 2024-12-31 00273953 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 00273953 d:FullAccounts 2024-01-01 2024-12-31 00273953 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00273953 2 2024-01-01 2024-12-31 00273953 6 2024-01-01 2024-12-31 00273953 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 00273953










SAFEGUARD COACHES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SAFEGUARD COACHES LIMITED
REGISTERED NUMBER: 00273953

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,305,758
4,093,391

Investments
 5 
387,152
363,217

Investment property
 6 
796,825
796,825

  
5,489,735
5,253,433

Current assets
  

Stocks
  
70,653
74,297

Debtors: amounts falling due within one year
 7 
295,447
360,647

Cash at bank and in hand
  
860,345
550,677

  
1,226,445
985,621

Creditors: amounts falling due within one year
 8 
(483,496)
(501,992)

Net current assets
  
 
 
742,949
 
 
483,629

Total assets less current liabilities
  
6,232,684
5,737,062

Provisions for liabilities
  

Deferred tax
 9 
(497,277)
(430,093)

  
 
 
(497,277)
 
 
(430,093)

Net assets
  
5,735,407
5,306,969


Capital and reserves
  

Called up share capital 
  
4,199
4,199

Revaluation reserve
  
795,901
795,901

Capital redemption reserve
  
1
1

Profit and loss account
  
4,935,306
4,506,868

  
5,735,407
5,306,969


Page 1

 
SAFEGUARD COACHES LIMITED
REGISTERED NUMBER: 00273953
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 June 2025.






J C Newman
A J Halliday
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Safeguard Coaches Limited (00273953) is a private limited company, limited by shares and incorporated in England and Wales. The registered office is Safeguard House, Clay Lane, Jacobs Well, Guildford, GU4 7NZ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in GBP rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either the straight-line or reducing balance method..

Depreciation is provided on the following basis:

Freehold property
-
Straight line over 50/25 years
Coaches, buses and other vehicles
-
10% to 25% reducing balance
Other fixtures and fittings
-
10% to 25% reducing balance
Computer equipment
-
Straight line over 4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in listed company shares are remeasured to market value at each Statement of financial position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 5

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
60
49

Page 6

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
2,574,107
5,548,628
89,190
111,409
3,089
8,326,423


Additions
-
693,991
48,592
6,500
-
749,083


Disposals
-
(116,742)
(19,611)
(12,531)
-
(148,884)


Transfers between classes
-
-
39,975
(39,975)
-
-



At 31 December 2024

2,574,107
6,125,877
158,146
65,403
3,089
8,926,622



Depreciation


At 1 January 2024
303,137
3,807,133
58,634
63,290
837
4,233,031


Charge for the year on owned assets
50,018
462,452
9,858
5,811
772
528,911


Disposals
-
(113,202)
(16,489)
(11,387)
-
(141,078)


Transfers between classes
-
-
22,636
(22,636)
-
-



At 31 December 2024

353,155
4,156,383
74,639
35,078
1,609
4,620,864



Net book value



At 31 December 2024
2,220,952
1,969,494
83,507
30,325
1,480
4,305,758



At 31 December 2023
2,270,970
1,741,495
30,556
48,119
2,252
4,093,392

Page 7

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 January 2024
363,217


Additions
415,579


Disposals
(417,070)


Revaluations
25,426



At 31 December 2024
387,152





6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
796,825



At 31 December 2024
796,825

The investment property was revalued on 20 November 2014 by Philip Commercial Limited on an open market existing use basis. This value was reassessed at 31 December 2015 when preparing accounts for the first time under FRS102. The directors believe there has been no significant change in market value since these dates. 

The 2024 valuations were made by the directors, on an open market value for existing use basis.






Page 8

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
167,984
228,652

Other debtors
32,748
49,563

Prepayments and accrued income
94,715
82,432

295,447
360,647



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
104,323
91,302

Corporation tax
208,465
175,920

Other taxation and social security
36,707
47,985

Other creditors
16,655
18,681

Accruals and deferred income
117,346
168,104

483,496
501,992



9.


Deferred taxation




2024


£






At beginning of year
(430,093)


Charged to profit or loss
(67,184)



At end of year
(497,277)

Page 9

 
SAFEGUARD COACHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(493,883)
(428,161)

Short term timing differences
-
347

Capital gains
(3,394)
(2,279)

(497,277)
(430,093)


10.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
387,000
-

387,000
-


11.


Post balance sheet events

On 27th March 2025, the investment property was sold for £1,875,000.  In the year to 31 December 2025 this will give rise to an additional charge to Corporation Tax of £120,818.

 
Page 10