Coach Holdings Ltd - Limited company accounts 20.1
Coach Holdings Ltd - Limited company accounts 20.1
| REGISTERED NUMBER: 13015721 (England and Wales) |
| Report of the Directors and |
| Consolidated Financial Statements |
| for the Period 13 November 2020 to 31 March 2021 |
| for |
| Coach Holdings Ltd |
| Coach Holdings Ltd (Registered number: 13015721) |
| Contents of the Consolidated Financial Statements |
| for the Period 13 November 2020 to 31 March 2021 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Report of the Independent Auditors | 4 |
| Consolidated Income Statement | 9 |
| Consolidated Balance Sheet | 10 |
| Company Balance Sheet | 12 |
| Consolidated Statement of Changes in Equity | 14 |
| Company Statement of Changes in Equity | 15 |
| Notes to the Consolidated Financial Statements | 16 |
| Coach Holdings Ltd |
| Company Information |
| for the Period 13 November 2020 to 31 March 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 5a Frascati Way |
| Maidenhead |
| Berkshire |
| SL6 4UY |
| Coach Holdings Ltd (Registered number: 13015721) |
| Report of the Directors |
| for the Period 13 November 2020 to 31 March 2021 |
| The directors present their report with the financial statements of the company and the group for the period 13 November 2020 to 31 March 2021. |
| INCORPORATION |
| The group was incorporated on 13 November 2020 and commenced trading on the same date. |
| DIRECTORS |
| The directors who have held office during the period from 13 November 2020 to the date of this report are as follows: |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| Coach Holdings Ltd (Registered number: 13015721) |
| Report of the Directors |
| for the Period 13 November 2020 to 31 March 2021 |
| AUDITORS |
| The auditors, WP Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| Coach Holdings Ltd |
| Opinion |
| We have audited the financial statements of Coach Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 2021 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2021 and of the group's profit for the period then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Report of the Independent Auditors to the Members of |
| Coach Holdings Ltd |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit; or |
| - | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors. |
| Report of the Independent Auditors to the Members of |
| Coach Holdings Ltd |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| Report of the Independent Auditors to the Members of |
| Coach Holdings Ltd |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| We considered the nature of the company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also ensured of management about their own identification and assessment of the risks and irregularities. |
| We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that: |
| - had a direct effect on the determination of material amounts and disclosures in the financial statements |
| These included the UK Companies Act, tax legislation, health and safety legislation and employment legislation. |
| -had an indirect effect on the determination of material amounts and disclosures in the financial statements. |
| We discussed among the audit engagement team, regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. |
| As a result of performing the above, we identified the greatest potential for fraud and performed specific procedures to ensure that they were addressed. |
| In common with all audit ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. |
| In addition to the above procedures to respond to the risks identified including the following: |
| -Reviewing financial statement disclosures by testing supporting documentation to assess compliance with provisions of relevant laws and regulations as described as having a direct effect on the financial statements; |
| -performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
| Report of the Independent Auditors to the Members of |
| Coach Holdings Ltd |
| -enquiring of management concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and |
| -reading of minutes of meetings of those charged with governance. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Statutory Auditors |
| 5a Frascati Way |
| Maidenhead |
| Berkshire |
| SL6 4UY |
| Coach Holdings Ltd (Registered number: 13015721) |
| Consolidated Income Statement |
| for the Period 13 November 2020 to 31 March 2021 |
| Notes | £ |
| TURNOVER | 1,082,783 |
| Cost of sales | (626,680 | ) |
| GROSS PROFIT | 456,103 |
| Administrative expenses | (380,619 | ) |
| OPERATING PROFIT | 4 | 75,484 |
| Interest receivable and similar income | 11 |
| 75,495 |
| Interest payable and similar expenses | (16,798 | ) |
| PROFIT BEFORE TAXATION | 58,697 |
| Tax on profit | (22,984 | ) |
| PROFIT FOR THE FINANCIAL PERIOD |
| Profit attributable to: |
| Owners of the parent | 35,713 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Consolidated Balance Sheet |
| 31 March 2021 |
| Notes | £ |
| FIXED ASSETS |
| Intangible assets | 6 | 4,926,312 |
| Tangible assets | 7 | 20,291 |
| Investments | 8 | - |
| 4,946,603 |
| CURRENT ASSETS |
| Debtors | 9 | 519,002 |
| Cash at bank and in hand | 1,892,930 |
| 2,411,932 |
| CREDITORS |
| Amounts falling due within one year | 10 | (1,456,783 | ) |
| NET CURRENT ASSETS | 955,149 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 5,901,752 |
| CREDITORS |
| Amounts falling due after more than one year |
11 |
(1,861,734 |
) |
| PROVISIONS FOR LIABILITIES | (3,855 | ) |
| NET ASSETS | 4,036,163 |
| CAPITAL AND RESERVES |
| Called up share capital | 875,900 |
| Share premium | 3,124,550 |
| Retained earnings | 35,713 |
| 4,036,163 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Consolidated Balance Sheet - continued |
| 31 March 2021 |
| The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
| The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2021 and were signed on its behalf by: |
| Mr M L Bateman - Director | Mr J Verjee - Director |
| Mr D P Morgan - Director | Mr C S Morgan - Director |
| Coach Holdings Ltd (Registered number: 13015721) |
| Company Balance Sheet |
| 31 March 2021 |
| Notes | £ |
| FIXED ASSETS |
| Intangible assets | 6 | 245,089 |
| Tangible assets | 7 |
| Investments | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 10 | ( |
) |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
11 |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| Company's loss for the financial year | (26,822 | ) |
| Coach Holdings Ltd (Registered number: 13015721) |
| Company Balance Sheet - continued |
| 31 March 2021 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Coach Holdings Ltd (Registered number: 13015721) |
| Consolidated Statement of Changes in Equity |
| for the Period 13 November 2020 to 31 March 2021 |
| Called up |
| share | Retained | Share | Total |
| capital | earnings | premium | equity |
| £ | £ | £ | £ |
| Changes in equity |
| Issue of share capital | 875,900 | - | 3,124,550 | 4,000,450 |
| Total comprehensive income | - | 35,713 | - | 35,713 |
| Balance at 31 March 2021 | 875,900 | 35,713 | 3,124,550 | 4,036,163 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Company Statement of Changes in Equity |
| for the Period 13 November 2020 to 31 March 2021 |
| Called up |
| share | Retained | Share | Total |
| capital | earnings | premium | equity |
| £ | £ | £ | £ |
| Changes in equity |
| Issue of share capital | - |
| Total comprehensive income | - | ( |
) | - | ( |
) |
| Balance at 31 March 2021 | ( |
) |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements |
| for the Period 13 November 2020 to 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Coach Holdings Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Basis of consolidation |
| The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March each year. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed. |
| Business combinations are accounted for under the purchase method. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the group. All intra-group transactions, balances, income and expenses are eliminated on consolidation. |
| Significant judgements and estimates |
| In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
| The company does not make significant estimates and assumptions concerning the future. |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. |
| Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| (i) Financial assets and liabilities |
| All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. |
| Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method: |
| (a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. |
| (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. |
| (c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a). |
| (d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. |
| (e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. |
| (f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c). |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment. |
| Financial assets are derecognised when and only when (a) the contractual rights to the cash flows from the financial asset expire or are settled, (b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or (c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. |
| (ii) Investments |
| Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. |
| In the company balance sheet, investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. |
| (iii) Equity instruments |
| Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| Investments |
| Investments in subsidiaries are measured at cost. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| The average number of employees by undertakings that were proportionately consolidated during the period was 7 . |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| £ |
| Depreciation - owned assets |
| Goodwill amortisation |
| Computer software amortisation |
| Auditors' remuneration |
| Foreign exchange differences |
| 5. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 6. | INTANGIBLE FIXED ASSETS |
| Group |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| Additions | 8,100 |
| At 31 March 2021 | 8,100 |
| AMORTISATION |
| Charge for period | 986 |
| At 31 March 2021 | 72,431 | 986 | 73,417 |
| NET BOOK VALUE |
| At 31 March 2021 | 4,919,198 | 7,114 | 4,926,312 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 6. | INTANGIBLE FIXED ASSETS - continued |
| Company |
| Other |
| intangible |
| assets |
| £ |
| COST |
| Additions | 250,304 |
| At 31 March 2021 | 250,304 |
| AMORTISATION |
| Charge for period | 5,215 |
| At 31 March 2021 | 5,215 |
| NET BOOK VALUE |
| At 31 March 2021 | 245,089 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 7. | TANGIBLE FIXED ASSETS |
| Group |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 13 November 2020 | 38,679 |
| Additions | 6,766 |
| At 31 March 2021 | 45,445 |
| DEPRECIATION |
| At 13 November 2020 | 17,388 |
| Charge for period | 7,766 |
| At 31 March 2021 | 25,154 |
| NET BOOK VALUE |
| At 31 March 2021 | 20,291 |
| At 12 November 2020 | 21,291 |
| 8. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 8. | FIXED ASSET INVESTMENTS - continued |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiary |
| Be-A Education Limited |
| Registered office: 5a Frascati Way, Maidenhead, Berks, SL6 4UY |
| Nature of business: Providing accredited training and workshops |
| % |
| Class of shares: | holding |
| Ordinary shares | 100.00 |
| Ordinary B shares | 100.00 |
| 31.3.21 |
| £ |
| Aggregate capital and reserves | 1,139,001 |
| Profit for the period | 1,674,150 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| £ | £ |
| Trade debtors | 106,134 |
| Other debtors | 412,868 |
| 519,002 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| £ | £ |
| Trade creditors | 121,850 |
| Amounts owed to group undertakings | - |
| Taxation and social security | 646,684 |
| Other creditors | 688,249 |
| 1,456,783 |
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| £ | £ |
| Other creditors | 1,861,734 |
| The groups' unsecured loan notes in relation to directors loans accrue interest at 6% per annum. |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Non- cancellable | operating leases |
| £ |
| Within one year | 63,280 |
| Between one and five years | 88,167 |
| 151,447 |
| Coach Holdings Ltd (Registered number: 13015721) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 13 November 2020 to 31 March 2021 |
| 13. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group | Company |
| £ | £ |
| Other loans | 1,260,000 | 1,260,000 |
| The loan notes are secured by fixed and floating charges over the undertaking and all property present and future. |
| The groups' secured loan notes accrue interest at 5.8% and 6.9% per annum. |
| 14. | ULTIMATE CONTROLLING PARTY |
| In the opinion of the directors there is no ultimate controlling party. |