Company Registration No. 05602063 (England and Wales)
PHIL HAINES COACHES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2026
PAGES FOR FILING WITH REGISTRAR
75 High Street
Boston
Lincolnshire
PE21 8SX
PHIL HAINES COACHES LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
PHIL HAINES COACHES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2026
31 January 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
4,903
Tangible assets
5
998,405
697,140
998,405
702,043
Current assets
Stocks
19,500
37,700
Debtors
6
196,071
150,521
Cash at bank and in hand
139,891
92,686
355,462
280,907
Creditors: amounts falling due within one year
7
(583,979)
(480,512)
Net current liabilities
(228,517)
(199,605)
Total assets less current liabilities
769,888
502,438
Creditors: amounts falling due after more than one year
8
(95,821)
(40,049)
Provisions for liabilities
(222,379)
(165,110)
Net assets
451,688
297,279
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
451,588
297,179
Total equity
451,688
297,279
PHIL HAINES COACHES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2026
31 January 2026
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 4 March 2026 and are signed on its behalf by:
Mr Nigel Haines
Director
Company registration number 05602063 (England and Wales)
PHIL HAINES COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
- 3 -
1
Accounting policies
Company information

Phil Haines Coaches Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ralphs Lane, Frampton West, Boston, Lincs, PE20 1QU.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue is recognised when the significant risks and rewards of ownership have transferred to the buyer and it is probable associated economic benefits will flow to the company.

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 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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.

PHIL HAINES COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 4 -

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
4% straight line
Fixtures and fittings
20% reducing balance
Motor vehicles
10% reducing balance

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 stated at the lower of cost and estimated 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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

PHIL HAINES COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
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
Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement Benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

PHIL HAINES COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 21.

2026
2025
Number
Number
Total
26
20
4
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2025 and 31 January 2026
49,048
Amortisation and impairment
At 1 February 2025
44,145
Amortisation charged for the year
4,903
At 31 January 2026
49,048
Carrying amount
At 31 January 2026
-
0
At 31 January 2025
4,903
PHIL HAINES COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 7 -
5
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2025
14,418
46,441
943,380
1,004,239
Additions
-
0
59,735
362,876
422,611
Disposals
-
0
(13,864)
(6,090)
(19,954)
At 31 January 2026
14,418
92,312
1,300,166
1,406,896
Depreciation and impairment
At 1 February 2025
1,154
18,095
287,850
307,099
Depreciation charged in the year
577
9,584
94,257
104,418
Eliminated in respect of disposals
-
0
(382)
(2,644)
(3,026)
At 31 January 2026
1,731
27,297
379,463
408,491
Carrying amount
At 31 January 2026
12,687
65,015
920,703
998,405
At 31 January 2025
13,264
28,346
655,530
697,140
6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
94,311
85,148
Corporation tax recoverable
1,795
-
0
Other debtors
22,132
14,569
Prepayments and accrued income
77,833
50,804
196,071
150,521
PHIL HAINES COACHES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 8 -
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
50,396
45,257
Obligations under finance leases
55,013
30,396
Advanced deposits
117,699
105,586
Trade creditors
40,038
13,194
Corporation tax
-
0
1,795
Other taxation and social security
11,493
8,159
Other creditors
305,055
270,701
Accruals and deferred income
4,285
5,424
583,979
480,512
8
Creditors: amounts falling due after more than one year
2026
2025
Notes
£
£
Bank loans and overdrafts
-
0
2,022
Obligations under finance leases
95,821
38,027
95,821
40,049
9
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
2026-01-31 2025-02-01 false false false 04 March 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr Benjamin P Haines Mr Nigel A Haines Mrs Susan Haines 05602063 2025-02-01 2026-01-31 05602063 2026-01-31 05602063 2025-01-31 05602063 core:NetGoodwill 2026-01-31 05602063 core:NetGoodwill 2025-01-31 05602063 core:LandBuildings core:OwnedOrFreeholdAssets 2026-01-31 05602063 core:FurnitureFittings 2026-01-31 05602063 core:MotorVehicles 2026-01-31 05602063 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-31 05602063 core:FurnitureFittings 2025-01-31 05602063 core:MotorVehicles 2025-01-31 05602063 core:CurrentFinancialInstruments core:WithinOneYear 2026-01-31 05602063 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 05602063 core:Non-currentFinancialInstruments core:AfterOneYear 2026-01-31 05602063 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 05602063 core:CurrentFinancialInstruments 2026-01-31 05602063 core:CurrentFinancialInstruments 2025-01-31 05602063 core:Non-currentFinancialInstruments 2026-01-31 05602063 core:Non-currentFinancialInstruments 2025-01-31 05602063 core:ShareCapital 2026-01-31 05602063 core:ShareCapital 2025-01-31 05602063 core:RetainedEarningsAccumulatedLosses 2026-01-31 05602063 core:RetainedEarningsAccumulatedLosses 2025-01-31 05602063 core:ShareCapitalOrdinaryShareClass1 2026-01-31 05602063 core:ShareCapitalOrdinaryShareClass1 2025-01-31 05602063 bus:Director2 2025-02-01 2026-01-31 05602063 core:Goodwill 2025-02-01 2026-01-31 05602063 core:LandBuildings core:OwnedOrFreeholdAssets 2025-02-01 2026-01-31 05602063 core:FurnitureFittings 2025-02-01 2026-01-31 05602063 core:MotorVehicles 2025-02-01 2026-01-31 05602063 2024-02-01 2025-01-31 05602063 core:NetGoodwill 2025-01-31 05602063 core:NetGoodwill 2025-02-01 2026-01-31 05602063 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-31 05602063 core:FurnitureFittings 2025-01-31 05602063 core:MotorVehicles 2025-01-31 05602063 2025-01-31 05602063 bus:OrdinaryShareClass1 2025-02-01 2026-01-31 05602063 bus:OrdinaryShareClass1 2026-01-31 05602063 bus:OrdinaryShareClass1 2025-01-31 05602063 bus:PrivateLimitedCompanyLtd 2025-02-01 2026-01-31 05602063 bus:SmallCompaniesRegimeForAccounts 2025-02-01 2026-01-31 05602063 bus:FRS102 2025-02-01 2026-01-31 05602063 bus:AuditExemptWithAccountantsReport 2025-02-01 2026-01-31 05602063 bus:Director1 2025-02-01 2026-01-31 05602063 bus:Director3 2025-02-01 2026-01-31 05602063 bus:FullAccounts 2025-02-01 2026-01-31 xbrli:pure xbrli:shares iso4217:GBP