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Company Registration No. 04469094 (England and Wales)
Ital CoachWorks Limited Unaudited accounts for the year ended 31 October 2024
Ital CoachWorks Limited Unaudited accounts Contents
Page
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Ital CoachWorks Limited Company Information for the year ended 31 October 2024
Directors
G Sullivan A Lachmacki Mrs R Sullivan
Company Number
04469094 (England and Wales)
Registered Office
UNIT 1, SITE 29 FOURTH WAY WEMBLEY MIDDLESEX HA9 0LH
Accountants
Kaushik Khiroya, AFA LMK ACCOUNTING LTD THE GATEHOUSE GATEHOUSE WAY AYLESBURY HP19 8DB
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Ital CoachWorks Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,323 
5,415 
Current assets
Inventories
4,789 
5,828 
Debtors
48,540 
55,271 
Cash at bank and in hand
197,415 
135,063 
250,744 
196,162 
Creditors: amounts falling due within one year
(120,097)
(91,647)
Net current assets
130,647 
104,515 
Net assets
137,970 
109,930 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
137,870 
109,830 
Shareholders' funds
137,970 
109,930 
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by
Mrs R Sullivan Director Company Registration No. 04469094
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Ital CoachWorks Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Ital CoachWorks Limited is a private company, limited by shares, registered in England and Wales, registration number 04469094. The registered office is UNIT 1, SITE 29, FOURTH WAY, WEMBLEY, MIDDLESEX, HA9 0LH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Revenue, described as turnover, is the value of goods and services (net of VAT) provided to customers during the year. Revenue is recognised when the goods and services are delivered and title has passed.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Short leasehold - period of lease Plant and machinery - 15% reducing instalment
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.
Inventories
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
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Ital CoachWorks Limited Notes to the Accounts for the year ended 31 October 2024
Deferred taxation
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate. The assets of the scheme are held in an independently administered fund. The administrative expenses of the scheme are borne by the company
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are recognised at amortised cost. Advanced financial instruments which include interest rate swaps and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
69,000 
At 31 October 2024
69,000 
Amortisation
At 1 November 2023
69,000 
At 31 October 2024
69,000 
Net book value
At 31 October 2024
- 
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Ital CoachWorks Limited Notes to the Accounts for the year ended 31 October 2024
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2023
25,733 
Additions
3,200 
At 31 October 2024
28,933 
Depreciation
At 1 November 2023
20,318 
Charge for the year
1,292 
At 31 October 2024
21,610 
Net book value
At 31 October 2024
7,323 
At 31 October 2023
5,415 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
48,540 
55,271 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
31,971 
27,450 
Trade creditors
11,386 
14,435 
Taxes and social security
22,972 
6,595 
Other creditors
352 
169 
Loans from directors
40,816 
40,748 
Accruals
12,600 
2,250 
120,097 
91,647 
8
Average number of employees
During the year the average number of employees was 9 (2023: 9).
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