Yorkshire Bus & Coach Sales Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04485643 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2024

FOR

YORKSHIRE BUS & COACH SALES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C Porteous

REGISTERED OFFICE:

Apartment 8

Swanland Hall, Hall Park

Tranby Lane

Swanland

HU14 3NW

REGISTERED NUMBER:

04485643 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

16,798

19,860

CURRENT ASSETS

Stocks

5

158,000

Debtors

6

525,084

520,743

Cash at bank and in hand

136

977

683,220

679,720

CREDITORS

Amounts falling due within one year

7

723,534

714,939

NET CURRENT LIABILITIES

(40,314

)

(35,219

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,516

)

(15,359

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(23,518

)

(15,361

)

SHAREHOLDERS' FUNDS

(23,516

)

(15,359

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr C Porteous - Director

1.	STATUTORY INFORMATION

Yorkshire Bus & Coach Sales Limited is a private company, limited by shares, registered in England. The company's registered number is 04485643 and registered office and place of business is at Swanland Hall,Hall Park,Tranby Lane,Swanland, HU14 3NW.

The financial statements are presented in the Pound Sterling (£) which is the functional currency of the company.

The principal activity of the company is the hire and sale of buses and coaches.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.3% on cost and 10% on cost

Stocks

Stock are stated at the lower of cost, using the first in first out method, and selling price less costs to complete and sell.

Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

For sale and leaseback transactions that result in a finance lease, any excess of sales proceeds over the carrying amount of the original asset is deferred and amortised over the lease term.

Investments in subsidiaries

Investments in subsidiaries are recognised at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

COST

At 31 December 2023

and 30 December 2024

5,830

30,000

340

36,170

DEPRECIATION

At 31 December 2023

5,721

10,250

339

16,310

Charge for year

62

3,000

-

3,062

At 30 December 2024

5,783

13,250

339

19,372

NET BOOK VALUE

At 30 December 2024

47

16,750

1

16,798

At 30 December 2023

109

19,750

1

19,860

5.

STOCKS

2024

2023

£

Coach and bus stocks

158,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

West Park Property

Developments Ltd

493,527

501,719

Deferred tax asset

28,706

18,270

Prepayments

2,851

754

525,084

520,743

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

1

77

VAT

4,533

4,803

Credit card

-

(802

)

Rental deposits

2,000

Directors current account

712,950

704,861

Accrued expenses

4,050

4,000

723,534

714,939

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

The Hire Purchase borrowings are secured on the assets to which they relate.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a loan to the company from the director, C Porteous. The amount outstanding at 31 December 2024 was £712,950 (2023 £704,861).

The loan was made on an interest free basis and is repayable on demand. Although the loan is strictly repayable on demand the director has confirmed that repayment will not be made until sufficient funds are available. The director has confirmed his continued support to the company.

10.	RELATED PARTY DISCLOSURES

Included in other debtors is a loan to West Park Property Developments Ltd, a company under the control of the director, C Porteous.

The balance outstanding at 31 December 2024 was £493,527 (2023 £501,719) .

The loan was made on an interest free basis and is repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Porteous.

12.	GOING CONCERN

Although the company has net current liabilities amounting to £40,314 (2023 £35,219) the director has pledged his support to the company and will continue his support for the foreseeable future. On this basis the use of the going concern basis for the preparation of the financial statements has been used.