Company registration number 04980094 (England and Wales)
D.J. THOMAS COACHES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
D.J. THOMAS COACHES LTD
COMPANY INFORMATION
Directors
Mrs A M Gibson
Mr L Gibson
Mrs H Rees
Mr R J Thomas
Secretary
Mrs A M Gibson
Company number
04980094
Registered office
Niberian Works
Milland Road
Neath
SA11 1NJ
Accountants
WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
D.J. THOMAS COACHES LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
D.J. THOMAS COACHES LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF D.J. THOMAS COACHES LTD FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D.J. Thomas Coaches Ltd for the year ended 31 December 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of D.J. Thomas Coaches Ltd, as a body, in accordance with the terms of our engagement letter dated 14 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of D.J. Thomas Coaches Ltd and state those matters that we have agreed to state to the board of directors of D.J. Thomas Coaches Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D.J. Thomas Coaches Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that D.J. Thomas Coaches Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D.J. Thomas Coaches Ltd. You consider that D.J. Thomas Coaches Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of D.J. Thomas Coaches Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
WBV Limited
Chartered Accountants
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
SA1 8QY
Wales
4 August 2025
D.J. THOMAS COACHES LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,407,843
3,693,030
Current assets
Stocks
2,815
2,815
Debtors
5
524,358
526,202
Cash at bank and in hand
246,962
248,976
774,135
777,993
Creditors: amounts falling due within one year
6
(882,678)
(1,193,282)
Net current liabilities
(108,543)
(415,289)
Total assets less current liabilities
4,299,300
3,277,741
Creditors: amounts falling due after more than one year
7
(1,209,521)
(531,424)
Provisions for liabilities
(673,660)
(560,238)
Net assets
2,416,119
2,186,079
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
2,416,019
2,185,979
Total equity
2,416,119
2,186,079
D.J. THOMAS COACHES LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -
For the financial year ended 31 December 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 4 August 2025 and are signed on its behalf by:
Mrs A M Gibson
Mr R J Thomas
Director
Director
Company registration number 04980094 (England and Wales)
D.J. THOMAS COACHES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
D.J. Thomas Coaches Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Niberian Works, Milland Road, Neath, SA11 1NJ.
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.
1.2
Turnover
Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
1.4
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:
Freehold land and buildings
10% on cost
Plant and equipment
20% on cost
Motor vehicles
12.5% on reducing balnce
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.
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
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.
D.J. THOMAS COACHES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
60
52
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
100,000
Amortisation and impairment
At 1 January 2024 and 31 December 2024
100,000
Carrying amount
At 31 December 2024
At 31 December 2023
D.J. THOMAS COACHES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
1,031,971
5,982,412
7,014,383
Additions
42,547
1,141,250
1,183,797
Disposals
(584,748)
(584,748)
At 31 December 2024
1,074,518
6,538,914
7,613,432
Depreciation and impairment
At 1 January 2024
91,810
3,229,543
3,321,353
Depreciation charged in the year
3,895
338,843
342,738
Eliminated in respect of disposals
(458,502)
(458,502)
At 31 December 2024
95,705
3,109,884
3,205,589
Carrying amount
At 31 December 2024
978,813
3,429,030
4,407,843
At 31 December 2023
940,161
2,752,869
3,693,030
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
381,098
431,453
Corporation tax recoverable
48,928
Other debtors
94,332
94,749
524,358
526,202
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
19,465
429,486
Trade creditors
189,875
125,860
Amounts owed to group undertakings
204,574
211,549
Corporation tax
55,972
Other taxation and social security
30,483
28,149
Other creditors
438,281
342,266
882,678
1,193,282
D.J. THOMAS COACHES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
410,622
Other creditors
798,899
531,424
1,209,521
531,424
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
80
100
80
100
Ordinary B of £1 each
20
0
20
100
100
100
100
9
Directors' transactions
Dividends totalling £156,000 (2023 - £132,000) were paid in the year in respect of shares held by the company's directors.
As at 31.12.2024 £2,007 (2023: £9,568 ) is owed by the director AM Gibson.
As at 31.12.2024 £1,498 (2023: £9,065 ) is owed by the director R Thomas.
As at 31.12.2024 £36 (2023: £8,440 owed by) is owed to the director L Gibson.
As at 31.12.2024 £2,098 (2023: £8,073 ) is owed by the director H Rees.
10
Related Party Disclosure
As at 31.12.2024 the following is owed to Neath Coach Travel Ltd £201,549 (2023: £211,549) and Express Motors Ltd £3,025 (2023: £Nil) which are related by virtue of a common control.
11
Ultimate Controlling Party
The Company is under the control of the directors who own 100% of the issued share capital.