Company Registration No. 05506733 (England and Wales)
HOPLEY'S COACHES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
The Old Carriage Works
Moresk Road
Truro
Cornwall
United Kingdom
TR1 1DG
HOPLEY'S COACHES LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Accountants' report
7
HOPLEY'S COACHES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,354,107
965,900
Current assets
Stocks
3,084
12,812
Debtors
5
444,695
384,207
Cash at bank and in hand
1,197,958
989,714
1,645,737
1,386,733
Creditors: amounts falling due within one year
6
(554,636)
(287,505)
Net current assets
1,091,101
1,099,228
Total assets less current liabilities
2,445,208
2,065,128
Provisions for liabilities
(303,453)
(224,732)
Net assets
2,141,755
1,840,396
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,141,655
1,840,296
Total equity
2,141,755
1,840,396

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

HOPLEY'S COACHES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 June 2025
Mr N A Hopley
Director
Company registration number 05506733 (England and Wales)
HOPLEY'S COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Hopley's Coaches Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gover Farm, Gover Hill, Mount Hawke, TRURO, Cornwall, United Kingdom, TR4 8BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
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 so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on cost
Plant and equipment
25% Reducing Balance
Computers
33% Reducing Balance
Motor vehicles
25% Reducing Balance
HOPLEY'S COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -

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 profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and net realisable value. It consists of items held for use in the business rather than for resale.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Pension costs and other post retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

HOPLEY'S COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was as follows:

2024
2023
Number
Number
Total
36
32
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023
102,808
3,211,782
3,314,590
Additions
75,473
725,865
801,338
Disposals
-
0
(94,000)
(94,000)
At 30 September 2024
178,281
3,843,647
4,021,928
Depreciation and impairment
At 1 October 2023
41,971
2,306,719
2,348,690
Depreciation charged in the year
1,800
406,038
407,838
Eliminated in respect of disposals
-
0
(88,707)
(88,707)
At 30 September 2024
43,771
2,624,050
2,667,821
Carrying amount
At 30 September 2024
134,510
1,219,597
1,354,107
At 30 September 2023
60,837
905,063
965,900
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
188,104
188,756
Other debtors
256,591
195,451
444,695
384,207
HOPLEY'S COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
396,698
108,710
Taxation and social security
62,352
104,035
Other creditors
95,586
74,760
554,636
287,505
8
Related party transactions

During the year the company paid rent to Suffolk Life personal pension scheme of £15,000 (2023 - £15,000) for use of the yard which is owned by the personal pension scheme. This pension scheme's beneficiary is the director, Mr N A Hopley.

 

As at the balance sheet date, the company owed the director £206.61 (2023: £269.06). This amount is shown within creditors repayable within one year.

 

The loan to the company is free of interest and repayable on demand.

 

HOPLEY'S COACHES LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF HOPLEY'S COACHES LIMITED
- 7 -

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 September 2024.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

 

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

TC Group
27 June 2025
The Old Carriage Works
Moresk Road
Truro
Cornwall
United Kingdom
TR1 1DG
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