Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

RED LINE COACHES LTD - Company Information

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2017-09-01 SC479134 2018-08-31 SC479134 2017-09-01 2018-08-31 SC479134 2017-08-31 SC479134 2016-09-01 2017-08-31 SC479134 uk-core:WithinOneYear 2017-08-31 SC479134 uk-core:WithinOneYear 2018-08-31 SC479134 uk-core:AfterOneYear 2017-08-31 SC479134 uk-core:AfterOneYear 2018-08-31 SC479134 uk-core:ShareCapital 2018-08-31 SC479134 uk-core:ShareCapital 2017-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2018-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2017-08-31 SC479134 uk-bus:Director1 2017-09-01 2018-08-31 SC479134 uk-core:Vehicles 2017-09-01 2018-08-31 iso4217:GBP SC479134 uk-bus:AuditExemptWithAccountantsReport 2017-09-01 2018-08-31 SC479134 uk-bus:FRS102 2017-09-01 2018-08-31 SC479134 uk-bus:FullAccounts 2017-09-01 2018-08-31 SC479134 uk-bus:PrivateLimitedCompanyLtd 2017-09-01 2018-08-31
Red Line Coaches Ltd
Registered Number:SC479134
For the year ended 31 August 2018
Scotland
Unaudited Financial Statements
2
For the year ended 31 August 2018
Red Line Coaches Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 August 2018
Red Line Coaches Ltd
Statement of Financial Position
Registered Number :
SC479134
£
£
2017
2018
Notes
Fixed assets
Property, plant and equipment
37,143
36,031
2
37,143
36,031
Current assets
Inventories
315
315
3
Trade and other receivables
14,584
19,611
4
20,586
Cash and cash equivalents
19,208
39,134
35,485
Trade and other payables: amounts falling due within one year
(49,951)
(59,799)
5
(14,466)
(20,665)
Net current liabilities
Total assets less current liabilities
16,478
21,565
Trade and other payables: amounts falling due after more than one year
(5,765)
(2,801)
6
13,677
Net assets
15,800
Capital and reserves
Called up share capital
2
2
Retained earnings
13,675
15,798
13,677
15,800
Shareholders' funds
For the year ended 31 August 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year
and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply
with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Stuart Morrison Director
These financial statements were approved and authorised for issue by the Board on 30 May 2019 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 August 2018
Red Line Coaches Ltd
Notes to the Financial Statements
Statutory Information
Red Line Coaches Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number SC479134.
Registered address:
44 Harefield Avenue
Dundee
DD3 6AW
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of 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 costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
5
For the year ended 31 August 2018
Red Line Coaches Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Motor vehicles
£
Cost or valuation
At 01 September 2017
64,397
15,333
Additions
Disposals
(3,447)
At 31 August 2018
76,283
Provision for depreciation and impairment
At 01 September 2017
28,366
Charge for year
12,381
(1,607)
On disposal
At 31 August 2018
39,140
At 31 August 2018
Net book value
37,143
At 31 August 2017
36,031
3. Inventories
2017
2018
£
£
Stocks
315
315
4. Trade and other receivables
2017
2018
£
£
Trade debtors
17,494
13,346
Other debtors
2,117
1,238
14,584
19,611
5. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Taxation and social security
923
1,518
Other creditors
58,876
48,433
59,799
49,951
3 of 4
6
For the year ended 31 August 2018
Red Line Coaches Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2017
2018
£
£
Bank loans and overdraft (secured)
2,801
5,765
4 of 4