Company No: 03932865 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Unaudited Financial Statements

DIRECTORS	Mr R J Conway
	Mr J J O'Brien
REGISTERED OFFICE	Defford Mill Dunstall
	Earls Croome
	Worcester
	WR8 9DF
	England
	United Kingdom
COMPANY NUMBER	03932865(England and Wales)
CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	1-3 College Yard
	Worcester
	WR1 2LB

		2020		2019
	Note	£		£
Fixed assets
Tangible assets	3	2,272,189		2,391,713
Investments	4	246,480		273,563
		2,518,669		2,665,276
Current assets
Stocks		31,404		21,878
Debtors	5	490,875		676,415
Cash at bank and in hand		232,057		110,580
		754,336		808,873
Creditors
Amounts falling due within one year	6	( 1,370,950)		( 1,495,437)
Net current liabilities		(616,614)		(686,564)
Total assets less current liabilities		1,902,055		1,978,712
Creditors
Amounts falling due after more than one year	7	( 286,490)		( 231,699)
Net assets		1,615,565		1,747,013
Capital and reserves
Called-up share capital		10,000		10,000
Profit and loss account		1,605,565		1,737,013
Total shareholder's funds		1,615,565		1,747,013

For the financial year ending 31 December 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Astons Coaches Limited (registered number: 03932865) were approved and authorised for issue by the Board of Directors on 02 September 2021. They were signed on its behalf by:

Mr J J O'Brien Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Astons Coaches Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Defford Mill Dunstall, Earls Croome, Worcester, WR8 9DF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Astons Coaches Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have reviewed budgets and forecasts for a period of 12 months following the date of approval of the financial statements and are of the opinion that the financial statements are correctly prepared on the going concern basis. The company continues to hold adequate cash reserves and has a strong balance sheet. The directors have considered the going concern of the business in light of challenges faced in relation to COVID-19 and feel that the company is well structured to respond to these challenges for the foreseeable future. The directors therefore continue to adopt the going concern basis in preparing these financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements- over minimum lease term
Plant and machinery - 3 - 5 years
Vehicles - 5 - 15 years

Leasehold improvements have been written down to a value of nil based on asset showing no future economic value.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

	2020		2019
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	63		75

3. Tangible assets

	Leasehold improvements		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 January 2020	83,388		185,382		3,916,939		4,185,709
Additions	226,578		228,438		61,250		516,266
Disposals	( 309,966)		( 48,452)		( 62,161)		( 420,579)
At 31 December 2020	0		365,368		3,916,028		4,281,396
Accumulated depreciation
At 01 January 2020	35,734		84,671		1,673,591		1,793,996
Charge for the financial year	0		52,778		291,774		344,552
Impairment losses	0		0		( 17,473)		( 17,473)
Disposals	( 35,734)		( 48,450)		( 27,684)		( 111,868)
At 31 December 2020	0		88,999		1,920,208		2,009,207
Net book value
At 31 December 2020	0		276,369		1,995,820		2,272,189
At 31 December 2019	47,654		100,711		2,243,348		2,391,713

4. Fixed asset investments

Investments in subsidiaries

	2020
	£
Cost
At 01 January 2020	273,563
At 31 December 2020	273,563
Provisions for impairment
At 01 January 2020	0
Impairment	27,083
At 31 December 2020	27,083
Carrying value at 31 December 2020	246,480
Carrying value at 31 December 2019	273,563

5. Debtors

	2020		2019
	£		£
Amounts owed by Group undertakings	136,572		162,665
Prepayments	112,743		105,709
VAT recoverable	12,759		17,269
Other debtors	228,801		390,772
	490,875		676,415

6. Creditors: amounts falling due within one year

	2020		2019
	£		£
Trade creditors	166,931		119,249
Amounts owed to Group undertakings	897,055		852,555
Other creditors	26,127		55,074
Other loans	2,184		0
Accruals	47,994		203,240
Other taxation and social security	26,171		38,850
Obligations under finance leases and hire purchase contracts	204,488		226,469
	1,370,950		1,495,437

7. Creditors: amounts falling due after more than one year

	2020		2019
	£		£
Bank loans	147,816		0
Other loans	0		11,333
Obligations under finance leases and hire purchase contracts	138,674		220,366
	286,490		231,699

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Other financial commitments

	2020		2019
	£		£
Operating leases not later than 1 year	80,000		118,750
Operating leases later than 1 year not later than 5 years	160,000		240,000
	240,000		358,750

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2020		2019
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	4,651		5,993