Company No: 03303158 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	298,730		248,068
		298,730		248,068
Current assets
Stocks		5,000		5,000
Debtors	5	59,393		97,865
Cash at bank and in hand		94,808		144,173
		159,201		247,038
Creditors: amounts falling due within one year	6	( 407,754)		( 311,691)
Net current liabilities		(248,553)		(64,653)
Total assets less current liabilities		50,177		183,415
Creditors: amounts falling due after more than one year	7	( 48,810)		( 83,972)
Provision for liabilities		( 44,170)		( 44,232)
Net (liabilities)/assets		( 42,803)		55,211
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 42,903 )		55,111
Total shareholder's (deficit)/funds		( 42,803)		55,211

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of A B Coaches Limited (registered number: 03303158) were approved and authorised for issue by the Board of Directors on 08 May 2026. They were signed on its behalf by:

N J Elgar Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A B Coaches Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	20 years straight line
Vehicles	15 % reducing balance
Tools and equipment	15 % reducing balance
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		13

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 November 2024	6,650		6,650
At 31 October 2025	6,650		6,650
Accumulated amortisation
At 01 November 2024	6,650		6,650
At 31 October 2025	6,650		6,650
Net book value
At 31 October 2025	0		0
At 31 October 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Vehicles		Tools and equipment		Office equipment		Total
	£		£		£		£		£
Cost
At 01 November 2024	22,449		618,181		50,313		24,238		715,181
Additions	0		94,442		9,926		327		104,695
Disposals	0		( 9,000)		0		0		( 9,000)
At 31 October 2025	22,449		703,623		60,239		24,565		810,876
Accumulated depreciation
At 01 November 2024	1,123		405,047		40,067		20,876		467,113
Charge for the financial year	1,123		45,791		3,028		1,793		51,735
Disposals	0		( 6,702)		0		0		( 6,702)
At 31 October 2025	2,246		444,136		43,095		22,669		512,146
Net book value
At 31 October 2025	20,203		259,487		17,144		1,896		298,730
At 31 October 2024	21,326		213,134		10,246		3,362		248,068

5. Debtors

	2025		2024
	£		£
Trade debtors	13,388		22,890
Amounts owed by Group undertakings	25,000		63,568
Amounts owed by directors	3,125		0
Prepayments	7,722		6,174
VAT recoverable	10,158		5,233
	59,393		97,865

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	7,033		10,316
Trade creditors	22,949		7,503
Accruals and deferred income	289,902		237,515
Taxation and social security	10,174		9,973
Obligations under finance leases and hire purchase contracts (secured)	60,089		41,627
Other creditors	17,607		4,757
	407,754		311,691

Hire Purchase borrowings are secured on the individual assets taken out on hire purchase.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		7,106
Obligations under finance leases and hire purchase contracts (secured)	48,810		76,866
	48,810		83,972

Hire Purchase borrowings are secured on the individual assets taken out on hire purchase.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Other	170,042		12,813

The company pays rent of £31,250 per annum and £7,250 per annum under separate 6 year leases which commenced 25 March 2025.

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
N J Elgar	0		0
Advances	3,125		0

11. Ultimate controlling party

Parent Company:

Elgar Enterprises Limited

Sigma House Oak View Close, Edginswell Park, Torquay, Devon, TQ2 7FF