Registration number: 03885518

South West Coaches Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 13

South West Coaches Limited

(Registration number: 03885518)
Balance Sheet as at 30 April 2026

	Note	30 April 2026 £	30 April 2025 £
Fixed assets
Tangible assets	5	2,765,351	2,655,998
Investments	6	60	60
		2,765,411	2,656,058
Current assets
Stocks	7	183,577	149,464
Debtors	8	1,357,295	1,171,664
Cash at bank and in hand		65,085	64,939
		1,605,957	1,386,067
Creditors: Amounts falling due within one year	9	(845,752)	(813,625)
Net current assets		760,205	572,442
Total assets less current liabilities		3,525,616	3,228,500
Creditors: Amounts falling due after more than one year	9	(598,773)	(526,103)
Provisions for liabilities		(603,413)	(559,396)
Net assets		2,323,430	2,143,001
Capital and reserves
Called up share capital		60,000	60,000
Retained earnings		2,263,430	2,083,001
Shareholders' funds		2,323,430	2,143,001

South West Coaches Limited

(Registration number: 03885518)
Balance Sheet as at 30 April 2026

For the financial year ending 30 April 2026 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 Profit and Loss Account.

Approved and authorised by the Board on 23 October 2026 and signed on its behalf by:
 

Mr A Graham Director

South West Coaches Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
South West Coaches Limited
Southgate Road
Wincanton
Somerset
BA9 9EB

These financial statements were authorised for issue by the Board on 23 October 2026.

2	Accounting policies

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.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Comparative information

The financial statements are prepared for the year ended 30 April 2026. The comparative figures relate to the period ended 30 April 2025, which covered a period of 16 months. Accordingly, the comparative amounts presented in the profit and loss account, and related notes are not directly comparable with those of the current year.

No adjustment has been made to the comparative figures to reflect the difference in reporting periods.

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

South West Coaches Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

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 amounts 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, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Revenue recognition

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

The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.
 

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

South West Coaches Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Tangible assets

Tangible assets are stated in the Balance Sheet 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.

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.

Depreciation rates are as follows:

Asset class	Depreciation method and rate
Property improvements	20% straight line
Plant and machinery	20% reducing balance
Furniture, fittings and equipment	20% reducing balance
Motor vehicles	15% reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at cost. Cost is determined using the first-in, first-out (FIFO) method.

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.

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.

South West Coaches Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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

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 profit and loss account 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 balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

South West Coaches Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 124 (2025 - 125).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 May 2025	160,000	160,000
At 30 April 2026	160,000	160,000
Amortisation
At 1 May 2025	160,000	160,000
At 30 April 2026	160,000	160,000
Carrying amount
At 30 April 2025 and 30 April 2026	-	-

South West Coaches Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

5	Tangible assets

	Property improvements £	Plant and machinery £	Furniture, fittings and equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 May 2025	149,827	203,296	222,957	5,883,397	6,459,477
Additions	-	605	24,097	619,500	644,202
Disposals	-	-	-	(143,024)	(143,024)
At 30 April 2026	149,827	203,901	247,054	6,359,873	6,960,655
Depreciation
At 1 May 2025	119,526	149,573	150,798	3,383,582	3,803,479
Charge for the year	10,183	10,866	19,251	463,200	503,500
Eliminated on disposal	-	-	-	(111,675)	(111,675)
At 30 April 2026	129,709	160,439	170,049	3,735,107	4,195,304
Carrying amount
At 30 April 2026	20,118	43,462	77,005	2,624,766	2,765,351
At 30 April 2025	30,301	53,723	72,159	2,499,815	2,655,998

6	Investments

	30 April 2026 £	30 April 2025 £
Investments in subsidiaries	60	60