Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

RED LINE COACHES LTD - Company Information

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2020-09-01 SC479134 2021-08-31 SC479134 2020-09-01 2021-08-31 SC479134 2020-08-31 SC479134 2019-09-01 2020-08-31 SC479134 uk-core:WithinOneYear 2020-08-31 SC479134 uk-core:WithinOneYear 2021-08-31 SC479134 uk-core:AfterOneYear 2020-08-31 SC479134 uk-core:AfterOneYear 2021-08-31 SC479134 uk-core:ShareCapital 2021-08-31 SC479134 uk-core:ShareCapital 2020-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2021-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2020-08-31 SC479134 uk-bus:Director1 2020-09-01 2021-08-31 SC479134 uk-core:ToolsEquipment 2020-09-01 2021-08-31 SC479134 uk-core:Vehicles 2020-09-01 2021-08-31 SC479134 uk-core:ToolsEquipment 2020-08-31 SC479134 uk-core:Vehicles 2020-08-31 SC479134 uk-core:Vehicles 2021-08-31 SC479134 uk-core:ToolsEquipment 2021-08-31 iso4217:GBP xbrli:pure SC479134 uk-bus:AuditExemptWithAccountantsReport 2020-09-01 2021-08-31 SC479134 uk-bus:FRS102 2020-09-01 2021-08-31 SC479134 uk-bus:FullAccounts 2020-09-01 2021-08-31 SC479134 uk-bus:PrivateLimitedCompanyLtd 2020-09-01 2021-08-31
Red Line Coaches Ltd
Registered Number:SC479134
For the year ended 31 August 2021
Scotland
Unaudited Financial Statements
2
For the year ended 31 August 2021
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 2021
Red Line Coaches Ltd
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
29,815
36,193
2
29,815
36,193
Current assets
Inventories
260
260
3
Trade and other receivables
24,410
17,482
4
60,615
Cash and cash equivalents
101,448
119,190
85,285
Trade and other payables: amounts falling due within one year
(29,659)
(29,187)
5
55,626
90,003
Net current assets
Total assets less current liabilities
119,818
91,819
Trade and other payables: amounts falling due after more than one year
(8,225)
(4,183)
6
115,635
Net assets
83,594
Capital and reserves
Called up share capital
2
2
Retained earnings
115,633
83,592
115,635
83,594
Shareholders' funds
For the year ended 31 August 2021 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 2021 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 20 May 2022 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 August 2021
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 2021
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 2020
94,827
3,965
90,862
8,770
-
8,770
Additions
-
(11,750)
Disposals
(11,750)
At 31 August 2021
87,882
3,965
91,847
Provision for depreciation and impairment
At 01 September 2020
58,634
594
58,040
Charge for year
9,487
505
8,982
(6,089)
-
(6,089)
On disposal
At 31 August 2021
62,032
1,099
60,933
At 31 August 2021
Net book value
26,949
2,866
29,815
At 31 August 2020
32,822
3,371
36,193
3. Inventories
2020
2021
£
£
Stocks
260
260
4. Trade and other receivables
2020
2021
£
£
Trade debtors
17,482
22,481
Other debtors
-
1,929
24,410
17,482
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Taxation and social security
17,543
14,059
Other creditors
11,644
15,600
29,187
29,659
3 of 4
6
For the year ended 31 August 2021
Red Line Coaches Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft (secured)
4,183
8,225
7. Average number of persons employed
During the year the average number of employees was 16 (2020 : 15)
4 of 4