Birmingham International Coaches Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01861889 (England and Wales)

BIRMINGHAM INTERNATIONAL COACHES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M. P. Watkiss

A. D. Watkiss

N. P. Watkiss

Mrs L Watkiss

Mrs M Watkiss

Mrs N Watkiss

SECRETARY:

M. P. Watkiss

REGISTERED OFFICE:

10 Fortnum Close

Tile Cross

Birmingham

West Midlands

B33 0JT

REGISTERED NUMBER:

01861889 (England and Wales)

ACCOUNTANTS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Tangible assets

4

2,809,741

2,716,113

CURRENT ASSETS

Debtors

5

202,868

215,191

Cash at bank

324,335

300,112

527,203

515,303

CREDITORS

Amounts falling due within one year

6

674,450

889,875

NET CURRENT LIABILITIES

(147,247

)

(374,572

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,662,494

2,341,541

CREDITORS

Amounts falling due after more than one year

7

(727,131

)

(720,278

)

PROVISIONS FOR LIABILITIES

(367,852

)

(278,663

)

NET ASSETS

1,567,511

1,342,600

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

1,567,409

1,342,498

SHAREHOLDERS' FUNDS

1,567,511

1,342,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 January 2020 and were signed on its behalf by:

M. P. Watkiss - Director

1.	STATUTORY INFORMATION

Birmingham International 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on cost

Motor vehicles

-

at varying rates on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2018 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2018

51,045

4,601,900

8,939

4,661,884

Additions

45,499

669,485

-

714,984

Disposals

-

(603,028

)

-

(603,028

)

At 31 October 2019

96,544

4,668,357

8,939

4,773,840

DEPRECIATION

At 1 November 2018

38,026

1,898,812

8,933

1,945,771

Charge for year

11,705

443,331

-

455,036

Eliminated on disposal

-

(436,708

)

-

(436,708

)

At 31 October 2019

49,731

1,905,435

8,933

1,964,099

NET BOOK VALUE

At 31 October 2019

46,813

2,762,922

6

2,809,741

At 31 October 2018

13,019

2,703,088

6

2,716,113

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 November 2018

2,958,960

Additions

611,995

Transfer to ownership

(538,710

)

At 31 October 2019

3,032,245

DEPRECIATION

At 1 November 2018

784,875

Charge for year

266,625

Transfer to ownership

(255,887

)

At 31 October 2019

795,613

NET BOOK VALUE

At 31 October 2019

2,236,632

At 31 October 2018

2,174,085

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade debtors

189,615

200,109

Other debtors

13,253

15,082

202,868

215,191

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Hire purchase contracts (see note 8)

422,985

415,439

Trade creditors

48,201

32,275

Taxation and social security

21,526

66,436

Other creditors

181,738

375,725

674,450

889,875

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.19

31.10.18

£

£

Hire purchase contracts (see note 8)

727,131

720,278

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.10.19

31.10.18

£

£

Net obligations repayable:

Within one year

422,985

415,439

Between one and five years

727,131

720,278

1,150,116

1,135,717

Non-cancellable

operating leases

31.10.19

31.10.18

£

£

Within one year

9,616

12,669

Between one and five years

-

1,853

9,616

14,522

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.19

31.10.18

£

£

Hire purchase contracts

1,150,116

1,135,717