Registration number: SC268643

JP Minicoaches Limited

trading as JP Coaches

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

JP Minicoaches Limited

trading as JP Coaches

(Registration number: SC268643)
Statement of Financial Position as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	964,831	481,384
Current assets
Stocks		17,500	99,750
Debtors	5	502,158	111,659
Cash at bank and in hand		61,716	(708)
		581,374	210,701
Creditors: Amounts falling due within one year	6	(1,000,618)	(498,039)
Net current liabilities		(419,244)	(287,338)
Total assets less current liabilities		545,587	194,046
Creditors: Amounts falling due after more than one year	6	(586,237)	(179,484)
Net (liabilities)/assets		(40,650)	14,562
Capital and reserves
Called up share capital		3	3
Retained earnings		(40,653)	14,559
Shareholders' (deficit)/funds		(40,650)	14,562

For the financial 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.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

JP Minicoaches Limited

trading as JP Coaches

(Registration number: SC268643)
Statement of Financial Position as at 31 October 2024

Approved and authorised by the Board on 31 October 2025 and signed on its behalf by:
 

......................................... Miss Adele Kinmond Davidson Director

JP Minicoaches Limited

trading as JP Coaches

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Unit 3
Orchardbank Industrial Estate
Forfar
DD8 1TD

These financial statements were authorised for issue by the Board on 31 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

JP Minicoaches Limited

trading as JP Coaches

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	15% straight line
Plant and Equipment	5% straight line
Office equipment	15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

JP Minicoaches Limited

trading as JP Coaches

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

JP Minicoaches Limited

trading as JP Coaches

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 32 (2023 - 33).

JP Minicoaches Limited

trading as JP Coaches

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2023	72,393	972,400	1,044,793
Additions	51,167	866,650	917,817
Disposals	-	(442,500)	(442,500)
At 31 October 2024	123,560	1,396,550	1,520,110
Depreciation
At 1 November 2023	29,598	533,812	563,410
Charge for the year	4,050	143,460	147,510
Eliminated on disposal	-	(155,641)	(155,641)
At 31 October 2024	33,648	521,631	555,279
Carrying amount
At 31 October 2024	89,912	874,919	964,831
At 31 October 2023	42,795	438,589	481,384

5

Debtors

Current	2024 £	2023 £
Trade debtors	178,838	94,639
Prepayments	5,787	4,630
Other debtors	317,533	12,390
	502,158	111,659

JP Minicoaches Limited

trading as JP Coaches

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	7	229,613	267,328
Trade creditors		586,921	71,847
Taxation and social security		45,716	12,620
Accruals and deferred income		5,720	6,248
Other creditors		132,648	139,996
		1,000,618	498,039

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	7	586,237	179,484

7	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	166,628	39,571
Hire purchase contracts	419,609	139,913
	586,237	179,484

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	71,409	32,604
Bank overdrafts	3,764	150,365
Hire purchase contracts	154,440	84,359
	229,613	267,328

JP Minicoaches Limited

trading as JP Coaches

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8	Related party transactions

The company was under the control of Mr John Petrie throughout the current and previous year.

At the year end, the company was due to repay the directors £127,792 (2023 - £125,792) which is included in Creditors Amounts falling due within one year. The directors own the main property which the company trades from and charged the company rent of £22,200 (2023 - £22,200) for the year. The company has a charged dated 7 December 2023 with Together Commercial Finance.