Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

RED LINE COACHES LTD - Company Information

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2018-09-01 SC479134 2019-08-31 SC479134 2018-09-01 2019-08-31 SC479134 2018-08-31 SC479134 2017-09-01 2018-08-31 SC479134 uk-core:WithinOneYear 2018-08-31 SC479134 uk-core:WithinOneYear 2019-08-31 SC479134 uk-core:AfterOneYear 2018-08-31 SC479134 uk-core:AfterOneYear 2019-08-31 SC479134 uk-core:ShareCapital 2019-08-31 SC479134 uk-core:ShareCapital 2018-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2019-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2018-08-31 SC479134 uk-bus:Director1 2018-09-01 2019-08-31 SC479134 uk-core:Vehicles 2018-09-01 2019-08-31 iso4217:GBP xbrli:pure SC479134 uk-bus:AuditExemptWithAccountantsReport 2018-09-01 2019-08-31 SC479134 uk-bus:FRS102 2018-09-01 2019-08-31 SC479134 uk-bus:FullAccounts 2018-09-01 2019-08-31 SC479134 uk-bus:PrivateLimitedCompanyLtd 2018-09-01 2019-08-31
Red Line Coaches Ltd
Registered Number:SC479134
For the year ended 31 August 2019
Scotland
Unaudited Financial Statements
2
For the year ended 31 August 2019
Red Line Coaches Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 August 2019
Red Line Coaches Ltd
Statement of Financial Position
Registered Number :
SC479134
£
£
2018
2019
Notes
Fixed assets
Property, plant and equipment
35,420
37,143
2
35,420
37,143
Current assets
Inventories
315
315
3
Trade and other receivables
19,611
15,034
4
19,208
Cash and cash equivalents
3,729
19,078
39,134
Trade and other payables: amounts falling due within one year
(59,799)
(27,613)
5
(20,665)
(8,535)
Net current liabilities
Total assets less current liabilities
26,885
16,478
Trade and other payables: amounts falling due after more than one year
(2,801)
-
6
26,885
Net assets
13,677
Capital and reserves
Called up share capital
2
2
Retained earnings
26,883
13,675
26,885
13,677
Shareholders' funds
For the year ended 31 August 2019 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 2019 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his 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 19 May 2020 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 August 2019
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. Property, plant and equipment
Motor vehicles
£
Cost or valuation
At 01 September 2018
76,283
10,084
Additions
At 31 August 2019
86,367
Provision for depreciation and impairment
At 01 September 2018
39,140
Charge for year
11,807
At 31 August 2019
50,947
At 31 August 2019
Net book value
35,420
At 31 August 2018
37,143
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5
For the year ended 31 August 2019
Red Line Coaches Ltd
Notes to the Financial Statements Continued
3. Inventories
2018
2019
£
£
Stocks
315
315
4. Trade and other receivables
2018
2019
£
£
Trade debtors
13,990
17,494
Other debtors
1,044
2,117
19,611
15,034
5. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Taxation and social security
4,667
923
Other creditors
22,946
58,876
27,613
59,799
6. Trade and other payables: amounts falling due after more than one year
2018
2019
£
£
Bank loans and overdraft (secured)
-
2,801
7. Average number of persons employed
During the year the average number of employees was 15 (2018 : 15)
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