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REGISTERED NUMBER: 02142703 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

INDEPENDENT COACHWAYS LIMITED

INDEPENDENT COACHWAYS LIMITED (REGISTERED NUMBER: 02142703)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


INDEPENDENT COACHWAYS LIMITED

COMPANY INFORMATION
For The Year Ended 30 September 2024







DIRECTORS: Mrs C Thornes
Mr P Thornes





SECRETARY: Miss L J Thornes





REGISTERED OFFICE: The Coach Station
Hull Road
Hemingbrough
Selby
North Yorkshire
YO8 6QG





REGISTERED NUMBER: 02142703 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
Equinox House
Clifton Park, Shipton Road
York
YO30 5PA

INDEPENDENT COACHWAYS LIMITED (REGISTERED NUMBER: 02142703)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 690,534 717,193
690,534 717,193

CURRENT ASSETS
Debtors 6 5,453 7,355
Cash at bank and in hand 1,142 2,862
6,595 10,217
CREDITORS
Amounts falling due within one year 7 513,837 538,129
NET CURRENT LIABILITIES (507,242 ) (527,912 )
TOTAL ASSETS LESS CURRENT LIABILITIES 183,292 189,281

CREDITORS
Amounts falling due after more than
one year

8

-

(1,667

)

PROVISIONS FOR LIABILITIES (10,432 ) (14,782 )
NET ASSETS 172,860 172,832

CAPITAL AND RESERVES
Called up share capital 9 150 150
Retained earnings 172,710 172,682
SHAREHOLDERS' FUNDS 172,860 172,832

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

INDEPENDENT COACHWAYS LIMITED (REGISTERED NUMBER: 02142703)

BALANCE SHEET - continued
30 September 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 24 June 2025 and were signed on its behalf by:




Mr P Thornes - Director



Mrs C Thornes - Director


INDEPENDENT COACHWAYS LIMITED (REGISTERED NUMBER: 02142703)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2024


1. STATUTORY INFORMATION

Independent Coachways 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised sp as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Land and buildings- Buildings - 2% straight line (after allowing for the residual value)
Fixtures and fittings - 15% reducing balance
Vehicles - See below

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss,

The following vehicles and their depreciation rates are included within vehicles:

Coaches- over 10 years straight line (after allowing for the residual value)
Buses - over 10 years straight line (after allowing for the residual value)
Vans - over 10 years straight line
Motor cars - over 10 years straight line

Land is not depreciated.

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.


INDEPENDENT COACHWAYS LIMITED (REGISTERED NUMBER: 02142703)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 52,125
AMORTISATION
At 1 October 2023
and 30 September 2024 52,125
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

INDEPENDENT COACHWAYS LIMITED (REGISTERED NUMBER: 02142703)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 651,631 409,535 1,061,166
Disposals - (40,446 ) (40,446 )
At 30 September 2024 651,631 369,089 1,020,720
DEPRECIATION
At 1 October 2023 20,176 323,797 343,973
Charge for year 4,136 14,800 18,936
Eliminated on disposal - (32,723 ) (32,723 )
At 30 September 2024 24,312 305,874 330,186
NET BOOK VALUE
At 30 September 2024 627,319 63,215 690,534
At 30 September 2023 631,455 85,738 717,193

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 658 679
Other debtors 4,795 6,676
5,453 7,355

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,667 11,008
Trade creditors - 15,333
Amounts owed to group undertakings 398,604 396,725
Taxation and social security 2,667 3,155
Other creditors 110,899 111,908
513,837 538,129

Bank loans disclosed under creditors falling due within one year are secured against land held by the company. Obligations outstanding under Hire Purchase agreements are secured on the assets to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 1,667

Obligations outstanding under Hire Purchase agreements are secured on the assets to which they relate.

INDEPENDENT COACHWAYS LIMITED (REGISTERED NUMBER: 02142703)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
150 Ordinary 1 150 150

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr P Thornes
Balance outstanding at start of year (90,390 ) (90,444 )
Amounts advanced - 54
Amounts repaid (450 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (90,840 ) (90,390 )

Mrs C Thornes
Balance outstanding at start of year (16,318 ) (16,318 )
Amounts advanced 13 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (16,305 ) (16,318 )

11. PARENT COMPANY

The ultimate parent company is Thornes Independent Limited, a company registered in England and it owns 100% of the share capital. The address of the registered office is The Coach House, Hull Road, Hemingborough, Selby, YO8 6QG.