REGISTERED NUMBER: 04045308 (England and Wales)

Edwards Coaches Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

7

Statement of Comprehensive Income

11

Statement of Financial Position

12

Statement of Changes in Equity

13

Statement of Cash Flows

14

Notes to the Statement of Cash Flows

15

Notes to the Financial Statements

16

DIRECTORS:

Mr M C Edwards

Mr S M Edwards

Miss K L Edwards

Mrs J R Thomas

REGISTERED OFFICE:

The Courtyard

Parc Busnes Edwards

Llantrisant

Pontyclun

CF72 8QZ

REGISTERED NUMBER:

04045308 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Chartered Accountants

& Statutory Auditors

Suite 2d

Building 1 Eastern Business Park

St Mellons

Cardiff

South Glamorgan

CF3 5EA

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The business continues to maintain close controls on spend and profitability. This combined with adapting quickly to the changes in the operating, political and legal environment, was able to recognise reasonable profitability at year end.

Essential KPI's are summarised below:

2025

2024

Change

Turnover

£'000

48,473

46,664

1,809

Gross Profit

£'000

11,677

10,853

824

Gross Profit %

24.09%

23.26%

0.83%

EBITDA

£'000

3,327

4,329

(£1,002

)

EBITDA%

6.86%

9.28%

(2.42%

)

Net profit has increased considerably when compared to the previous year, most of this can be explained by the gain in the year on the sale of coaches that had been written down to a nominal NBV in the accounts having been used on contracts for 7 years instead of expected 5 years. This reason for the extended time in use of these assets was a result of the availability of new coaches in the market post pandemic. The underlying net profit of the trading actives remained healthily with an EBITDA of 6.86%

The company has continued to invest in new coaches in the financial year across all departments to upgrade what was an ageing fleet.

During the previous financial year and continuing into this financial year passenger numbers increased significantly in the holiday sector, as have the passenger numbers using both public transport and private hire all of which have contributed to the improved turnover.

The company remains focused on controlling overheads; however, some cost areas are out of our control, such as external factors affecting the cost of utilities and fuel.

The company has seen an increase in current assets of £2.171m, cash reserves having increased along with an increases in debtors, current liabilities have decreased with the main decrease being in HP and trade creditors. There has been no change from the prior year to the concentration of credit risk and our experience of bad debt remains low.

The management uses other performance measures to assess the performance of company. EBITDA is operating profit as measured using UK GAAP principles adjusted for the effects of depreciation, amortisation,and impairment of non-financial assets.

PRINCIPAL RISKS AND UNCERTAINTIES

Most of the company's revenue is contractually based however the coach holiday business is subject to shorter term influences. These include competitive pressures from other coach holiday operators, other holiday types and availability and pricing of hotel accommodation. Customer demand for particular destinations has particularly been driven by exchange rate movements (influencing the cost to the customer) and terrorist activity.

The company manages this risk by providing value for money services of a high quality to retain customer loyalty. The company avoids wherever possible any significant non cancellable forward contracts for accommodation and transport services in order to have continuous flexibility in its operations.

The company's principal operating costs are those of labour, fuel and hotel accommodation. Competition with the transport sector, particularly for drivers and engineers, is high, which has an impact on remuneration levels to attract and retain quality staff.

The cost of fuel is clearly driven by the global oil price. A large proportion of the company's fuel usage is hedged through customer contracts.

The company purchases overseas hotel accommodation primarily in Euros and is therefore subject to foreign exchange movement risks. Euros currently are purchased on the spot market as and when required due to the current low level European travel. This is being monitored and could well change in the future.

Corporate responsibility

The company is proud of its record of achievement to date and looks to build upon this to further enhance its reputation as a company that takes its corporate responsibility very seriously. Indeed the company considers that it will be judged by the success of not only meeting but improving upon delivery of this obligation. The company has planned a number of new initiatives that it has implemented to ensure continuous improvement in safety, health and environmental management. These initiatives will help enhance the company's excellent reputation with clients, regulators, workers and the public.

SECTION 172(1) STATEMENT

Section 172(1) of the Companies Act 2006 requires a director of a company to act in the way he or she considers, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In doing this, Section 172(1)(a-f) requires a director to have regard, amongst other matters, to the:

- likely consequences of any decisions in the long-term;

- interests of the company's employees;

- need to foster the company's business relationships with suppliers, customers and others;

- impact of the company's operations on the community and environment;

- desirability of the company maintaining a reputation for high standards of business conduct;

- need to act fairly as between members of the company,

In discharging our Section 172(1) duties we have regard to the factors set out above

Through an open and transparent dialogue with our key stakeholders, we have been able to develop a clear understanding of their needs, assess their perspectives and monitor their impact on our strategic ambition and culture.

Employees

Our employees are fundamental to the delivery of our services. We aim to be a responsible employer in our approach to remuneration that our workforce receives. The health and safety of our employees is one of our principal considerations and is at the forefront of our business model.

Directors and senior management are directly involved in regular management meetings in relation to the company and are therefore informed of the company's activities and development. As a management team, they are responsible for the involvement and consultation of their relevant staff.

Suppliers and customers

We have built and maintained a good reputation with our suppliers and customers. We aim to act responsibly and fairly in how we engage with our suppliers and our business model prioritises quality and customer satisfaction.

Our community and environment

We are a family run company based in South Wales. Our plans takes into account the impact of the company's operations on the community and environment and our wider social responsibilities.

Corporate governance

As the Board of Directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours. The Board considers the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors, including the impact of the Company's operations on the community and environment, responsible business practices and the likely consequences of decisions in the long-term.

ENGAGEMENT WITH EMPLOYEES

The company's employment policies are best suited to its operations and in compliance with UK legislation. Personnel policies are designed to provide equal opportunities to all in accordance with the company policy.

Employee involvement

During the year, the policy of providing employees with information about the company has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the company's performance. Regular meetings are held between local management and employees to allow a free flow of information and ideas.

ON BEHALF OF THE BOARD:

Mr M C Edwards - Director

15 September 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of tour operator and coach hire.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 was £45,000 (2024- £73,980).

RESEARCH AND DEVELOPMENT

During the year the company undertook research and development.

FUTURE DEVELOPMENTS

The company remains a prominent player in the tour operator holiday market taking up to 26,000 customers away on coach holidays annually. There are changes coming in the coach private hire sector with local councils having less money for home to school transport for which we were a major provider in our area. We aim to counteract this with increased local bus service operation and increased alternative profitable work that we were previously unable to do as a result of our home to school commitment.

The future prospects of the company and our industry remain positive, corroborated by the financial performance of the business during the financial year. We will continue to follow the various goverment policies and advice and in parallel we will do our utmost to continue and grow our operations in the best and safest way possible as the sector and country transitions away from the economic consequences of the pandemic.

The executive and the senior management team continue to meet regularly to review the company's performance and respond to changes within the industry.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr M C Edwards

Mr S M Edwards

Miss K L Edwards

Mrs J R Thomas

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, bank overdrafts, trade debtors, trade creditors and hire purchase. The main purpose of these instruments is to raise funds to finance the group's operations.

Due to the nature of the financial instruments used by the company there is minimal exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Credit risk

The company monitors credit risk closely and considers that its current policies of credit checks meets its objectives of managing exposure to credit risk.

The company has no significant concentrations of credit risk. Amounts shown in the balance sheet represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.

Currency risk

The company previously introduced a euro hedging facility which enables the purchasing of euros at a set rate if required. Use of this facility and close monitoring of exchange rate trends and advance purchasing of euros help to minimise the risk of adverse exchange rate fluctuations.

DONATIONS

During the year the company made general charitable donations totalling £286 (2024 - £1,100).

DIRECTORS' LIABILITY INSURANCE

A liability insurance was in force during the financial year for the benefit of the directors of the company.

DISABLED EMPLOYEES

The company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

GOING CONCERN

The financial statements are prepared on a going concern basis. The company has a strong financial standing with shareholders funds of £12.478m and cash of more than £6.341m. The company is well placed to take advantage of new opportunities and has a sound financial base from which to withstand any changes in the economy and inflation.

The company has long term contracts for more than one year. This along with the company's experienced management means the directors are confident that the company will continue to be a going concern for the foreseeable future.

STREAMLINED ENERGY AND CARBON REPORTING

The methodologies under the UK Government's Streamlined Energy and Carbon Reporting (SECR) Policy are:

Scope 1 relating to fuels used for operation of the company's coaches, buses and other vehicles.

Scope 2 relating to the group's consumption of electricity in its daily business activity.

The company's total green house gas emissions and energy usage in the financial year is as follows:

Estimated number of passenger mile (pm): 13m

Current ReportingPeriod

Scope(GHG)

Information

kWh

Total Gross Emissions (tCO2e)

000's

Scope 1

Total energy consumption (kWh) and emissions (tCO2e) from combustion of gas and hydrocarbon fuels (Fuel oil/gas oil)

92,463

22,776

Scope 2

Total consumption (kWh) and emissions (tCO2e) from electricity fuel

524

111

Scope 1 and 2

Overall total consumption used to calculate emissions (kWh) emissions and total emissions(tCO2e)

92,987

22,887

Scope 1 is calculated by fuel used by vehicles and natural gas consumed at the premises. Scope 2 is electricity consumed at head office and operating sites.

Quantification and reporting methodology

We have followed HM Government environmental reporting guideline to ensure compliance with SECR requirements. The DEFRA issued 'Greenhouse gas reporting:conversion factors 2024' conversion figures for CO2e were used along with the fuel property figures to determine the KWh content for Fleet.

Intensity measurement

The intensity ratio for the current financial reporting period is, 6.89 tCo2e/pm, representing the group's total emissions against total passenger mile.

Measures taken to improve energy efficiency

Edwards Coaches Limited continues to monitor its energy usage and emitted gases on a regular basis. We continue to use the cleanest diesel technology whilst working towards reducing our emissions.

We continue to develop our use of alternative technologies at our operating sites such as solar energy and Biomass energy. We are also investigating introducing electric buses into our fleet.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

It is proposed that the auditors, Xeinadin Audit Limited, will be proposed for re-appointment.

ON BEHALF OF THE BOARD:

Mr M C Edwards - Director

15 September 2025

Opinion

We have audited the financial statements of Edwards Coaches Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainties related to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations we have considered the following:

-

The nature of the industry and sector, control environment and business performance;

-

Results of the enquiries of management about their own identification and assessment of the risks of

irregularities;

-

Any matters we have identified having obtained and reviewed the company's documentation of their

policies and procedures relating to:

--

identifying, evaluating and complying with laws and regulations and whether they were aware of any

instances of noncompliance;

--

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected

or alleged fraud;

--

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

--

the matters discussed among the audit engagement team regarding how and where fraud might occur in

the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of income.. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, health and safety and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

-

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance

with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

-

enquiring of management concerning actual and potential litigation and claims;

-

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of

material misstatement due to fraud;

-

reviewing correspondence with HMRC; and

-

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal

entries and other adjustments; assessing whether the judgements made in making accounting estimates are

indicative of a potential bias; and evaluating the business rationale of any significant transactions that are

unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error.

As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Catherine Ingram FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Chartered Accountants

& Statutory Auditors

Suite 2d

Building 1 Eastern Business Park

St Mellons

Cardiff

South Glamorgan

CF3 5EA

15 September 2025

TURNOVER

3

48,472,664

46,664,209

Cost of sales

36,796,677

35,811,476

GROSS PROFIT

11,675,987

10,852,733

Administrative expenses

9,155,326

9,021,182

2,520,661

1,831,551

Other operating income

63,103

291,786

OPERATING PROFIT

5

2,583,764

2,123,337

Interest receivable and similar income

262,160

124,925

2,845,924

2,248,262

Interest payable and similar expenses

7

6,489

52,364

PROFIT BEFORE TAXATION

2,839,435

2,195,898

Tax on profit

8

623,082

748,391

PROFIT FOR THE FINANCIAL YEAR

2,216,353

1,447,507

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,216,353

1,447,507

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

5,260,369

4,950,698

5,260,369

4,950,698

CURRENT ASSETS

Stocks

12

751,642

894,466

Debtors

13

6,596,850

6,359,098

Cash at bank and in hand

6,340,596

4,949,733

13,689,088

12,203,297

CREDITORS

Amounts falling due within one year

14

5,534,679

6,059,464

NET CURRENT ASSETS

8,154,409

6,143,833

TOTAL ASSETS LESS CURRENT LIABILITIES

13,414,778

11,094,531

CREDITORS

Amounts falling due after more than one year

15

-

(33,517

)

PROVISIONS FOR LIABILITIES

18

(936,781

)

(754,370

)

NET ASSETS

12,477,997

10,306,644

CAPITAL AND RESERVES

Called up share capital

19

41,602

41,602

Capital redemption reserve

20

1,400,000

1,400,000

Retained earnings

20

11,036,395

8,865,042

SHAREHOLDERS' FUNDS

24

12,477,997

10,306,644

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Mr M C Edwards - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

41,602

7,491,515

1,400,000

8,933,117

Changes in equity

Dividends

-

(73,980

)

-

(73,980

)

Total comprehensive income

-

1,447,507

-

1,447,507

Balance at 31 March 2024

41,602

8,865,042

1,400,000

10,306,644

Changes in equity

Dividends

-

(45,000

)

-

(45,000

)

Total comprehensive income

-

2,216,353

-

2,216,353

Balance at 31 March 2025

41,602

11,036,395

1,400,000

12,477,997

Cash flows from operating activities

Cash generated from operations

1

2,464,244

4,171,643

Interest element of hire purchase payments paid

(6,489

)

(52,364

)

Tax paid

(640,799

)

(554,008

)

Net cash from operating activities

1,816,956

3,565,271

Cash flows from investing activities

Purchase of tangible fixed assets

(2,002,271

)

(1,775,233

)

Sale of tangible fixed assets

1,496,600

32,887

Interest received

262,160

124,925

Net cash from investing activities

(243,511

)

(1,617,421

)

Cash flows from financing activities

Capital repayments in year

(258,977

)

(716,253

)

Amount introduced by directors

39,982

70,797

Amount withdrawn by directors

81,413

(168

)

Equity dividends paid

(45,000

)

(73,980

)

Net cash from financing activities

(182,582

)

(719,604

)

Increase in cash and cash equivalents

1,390,863

1,228,246

Cash and cash equivalents at beginning of year

2

4,949,733

3,721,487

Cash and cash equivalents at end of year

2

6,340,596

4,949,733

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.25

31.3.24

£

£

Profit before taxation

2,839,435

2,195,898

Depreciation charges

1,161,705

2,124,589

(Profit)/loss on disposal of fixed assets

(561,321

)

80,941

Finance costs

6,489

52,364

Finance income

(262,160

)

(124,925

)

3,184,148

4,328,867

Decrease/(increase) in stocks

142,824

(34,231

)

Increase in trade and other debtors

(253,496

)

(597,564

)

(Decrease)/increase in trade and other creditors

(609,232

)

474,571

Cash generated from operations

2,464,244

4,171,643

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

6,340,596

4,949,733

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

4,949,733

3,723,345

Bank overdrafts

-

(1,858

)

4,949,733

3,721,487

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

4,949,733

1,390,863

6,340,596

4,949,733

1,390,863

6,340,596

Debt

Finance leases

(291,305

)

257,988

(33,317

)

(291,305

)

257,988

(33,317

)

Total

4,658,428

1,648,851

6,307,279

1.	STATUTORY INFORMATION

Edwards Coaches Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 £.

Going concern

After reviewing the company's forecasts and projections, which covers a 12 month period from the date of signing the financial statements, the directors have reasonable expectations that the company have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates

The application of the company's accounting policies, the management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The VAT exclusive turnover shown in the profit and loss account represents:

1. Holidays - amounts receivable at the completion of a tour or trip.

2. Coach hire, private hire contracts and school contracts - goods and services invoiced during the year.

3. Local bus services - cash received during the year.

Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to the total contract costs.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, was previously being amortised over an estimated useful life of twenty years. During the year ended 31 March 2016 the directors revised their estimation of the remaining useful life to 5 years, with the remaining book value being amortised evenly over this period. As at 31 March 2025 goodwill has been fully depreciated.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.