Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

RED LINE COACHES LTD - Company Information

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2019-09-01 SC479134 2020-08-31 SC479134 2019-09-01 2020-08-31 SC479134 2019-08-31 SC479134 2018-09-01 2019-08-31 SC479134 uk-core:WithinOneYear 2019-08-31 SC479134 uk-core:WithinOneYear 2020-08-31 SC479134 uk-core:AfterOneYear 2019-08-31 SC479134 uk-core:AfterOneYear 2020-08-31 SC479134 uk-core:ShareCapital 2020-08-31 SC479134 uk-core:ShareCapital 2019-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2020-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2019-08-31 SC479134 uk-bus:Director1 2019-09-01 2020-08-31 SC479134 uk-core:ToolsEquipment 2019-09-01 2020-08-31 SC479134 uk-core:Vehicles 2019-09-01 2020-08-31 SC479134 uk-core:ToolsEquipment 2019-08-31 SC479134 uk-core:Vehicles 2019-08-31 SC479134 uk-core:Vehicles 2020-08-31 SC479134 uk-core:ToolsEquipment 2020-08-31 iso4217:GBP xbrli:pure SC479134 uk-bus:AuditExemptWithAccountantsReport 2019-09-01 2020-08-31 SC479134 uk-bus:FRS102 2019-09-01 2020-08-31 SC479134 uk-bus:FullAccounts 2019-09-01 2020-08-31 SC479134 uk-bus:PrivateLimitedCompanyLtd 2019-09-01 2020-08-31
Red Line Coaches Ltd
Registered Number:SC479134
For the year ended 31 August 2020
Scotland
Unaudited Financial Statements
2
For the year ended 31 August 2020
Red Line Coaches Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
SC479134
As at 31 August 2020
Red Line Coaches Ltd
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
36,193
35,420
2
36,193
35,420
Current assets
Inventories
315
260
3
Trade and other receivables
15,034
24,410
4
3,729
Cash and cash equivalents
60,615
85,285
19,078
Trade and other payables: amounts falling due within one year
(27,613)
(29,659)
5
(8,535)
55,626
Net current assets
Total assets less current liabilities
91,819
26,885
Trade and other payables: amounts falling due after more than one year
-
(8,225)
6
83,594
Net assets
26,885
Capital and reserves
Called up share capital
2
2
Retained earnings
83,592
26,883
83,594
26,885
Shareholders' funds
For the year ended 31 August 2020 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 2020 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 25 May 2021 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 August 2020
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:
15% Reducing balance
Equipment
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 2020
Red Line Coaches Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Equipment
Motor vehicles
£
£
£
Cost or valuation
At 01 September 2019
86,367
-
86,367
13,960
3,965
9,995
Additions
-
(5,500)
Disposals
(5,500)
At 31 August 2020
90,862
3,965
94,827
Provision for depreciation and impairment
At 01 September 2019
50,947
-
50,947
Charge for year
11,534
594
10,940
(3,847)
-
(3,847)
On disposal
At 31 August 2020
58,634
594
58,040
At 31 August 2020
Net book value
32,822
3,371
36,193
At 31 August 2019
35,420
-
35,420
3. Inventories
2019
2020
£
£
Stocks
260
315
4. Trade and other receivables
2019
2020
£
£
Trade debtors
22,481
13,990
Other debtors
1,929
1,044
15,034
24,410
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Taxation and social security
14,059
4,667
Other creditors
15,600
22,946
29,659
27,613
3 of 4
6
For the year ended 31 August 2020
Red Line Coaches Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Bank loans and overdraft (secured)
8,225
-
7. Average number of persons employed
During the year the average number of employees was 15 (2019 : 15)
4 of 4