Whytes Coaches Limited - Accounts to registrar (filleted) - small 22.3
Whytes Coaches Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2022 |
| FOR |
| WHYTES COACHES LIMITED |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 April 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Certified Accountants' Report | 8 |
| WHYTES COACHES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 April 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit 1, Office 1 & 8 |
| Blackhall Industrial Estate |
| Burghmuir Circle |
| Inverurie |
| Aberdeenshire |
| AB51 4FS |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| BALANCE SHEET |
| 30 April 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 14 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 and authorised for issue on |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 April 2022 |
| 1. | STATUTORY INFORMATION |
| Whytes Coaches Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Accounting policies |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
| Government grants |
| Government grants that become receivable as compensation for expenses or losses already incurred for the purpose of giving immediate financial support to the entity with no future related costs, including the Coronavirus Job Retention Scheme, are recognised in the profit and loss account of the period in which the grant becomes receivable. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
| Taxation |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| Current Tax |
| The tax currently payable is based on taxable profit for the year. taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. the company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 April 2022 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. |
| The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. |
| Employee benefits |
| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
| Retirement Benefits |
| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 May 2021 |
| and 30 April 2022 |
| AMORTISATION |
| At 1 May 2021 |
| and 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 April 2022 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2021 |
| Additions |
| At 30 April 2022 |
| DEPRECIATION |
| At 1 May 2021 |
| Charge for year |
| At 30 April 2022 |
| NET BOOK VALUE |
| At 30 April 2022 |
| At 30 April 2021 |
| 7. | STOCKS |
| 2022 | 2021 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| VAT |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts (see note 11) |
| Hire purchase contracts (see note 12) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Net wages creditor | 3,434 | 2,358 |
| Other creditors |
| Directors' current accounts | 16,624 | 1,000 |
| Deferred income |
| Accrued expenses |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 April 2022 |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans (see note 11) |
| Hire purchase contracts (see note 12) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 19,553 | 25,760 |
| 11. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 19,553 | 25,760 |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2022 | 2021 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating | leases |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 April 2022 |
| 13. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank overdrafts |
| The company has granted a floating charge in favour of Bank of Scotland PLC in respect of all present and future undertakings and property of the company. |
| 14. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 May 2021 |
| Profit for the year |
| At 30 April 2022 |
| 15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 April 2022 and 30 April 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced | ( |
) |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The above noted loans are interest free and have no set repayment terms. |
| 16. | ULTIMATE CONTROLLING PARTY |
| Ultimate Parent Company |
| The immediate and ultimate parent company is WCCU Limited by virtue of it's 100% ownership of the issued share capital in Whytes Coaches Limited. |
| Ultimate Controlling Party |
| The directors are considered to be the ultimate controlling parties by virtue of their combined 100% ownership of the issued share capital in the parent company, WCCU Limited. |
| CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| WHYTES COACHES LIMITED (REGISTERED NUMBER: SC333425) |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whytes Coaches Limited for the year ended 30 April 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Whytes Coaches Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Whytes Coaches Limited and state those matters that we have agreed to state to the Board of Directors of Whytes Coaches Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Whytes Coaches Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Whytes Coaches Limited. You consider that Whytes Coaches Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Whytes Coaches Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Unit 1, Office 1 & 8 |
| Blackhall Industrial Estate |
| Burghmuir Circle |
| Inverurie |
| Aberdeenshire |
| AB51 4FS |