McDade Travel Limited - Accounts to registrar (filleted) - small 22.3
McDade Travel Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 September 2022 |
| for |
| McDade Travel Limited |
| T/A McDade Coaches |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| McDade Travel Limited |
| T/A McDade Coaches |
| Company Information |
| for the Year Ended 30 September 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 25 Sandyford Place |
| Glasgow |
| G3 7NG |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Balance Sheet |
| 30 September 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings |
| 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. |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Balance Sheet - continued |
| 30 September 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2022 |
| 1. | STATUTORY INFORMATION |
| McDade Travel Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Financial instruments |
| Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2022 |
| 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 year 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Grant income |
| Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 October 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 September 2022 |
| DEPRECIATION |
| At 1 October 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2021 | 175,000 | 286,500 | 461,500 |
| Additions | - | 153,775 | 153,775 |
| Transfer to ownership | (175,000 | ) | - | (175,000 | ) |
| At 30 September 2022 | - | 440,275 | 440,275 |
| DEPRECIATION |
| At 1 October 2021 | 175,000 | 106,020 | 281,020 |
| Charge for year | - | 66,851 | 66,851 |
| Transfer to ownership | (175,000 | ) | - | (175,000 | ) |
| At 30 September 2022 | - | 172,871 | 172,871 |
| NET BOOK VALUE |
| At 30 September 2022 | - | 267,404 |
| At 30 September 2021 | - | 180,480 |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| 8. | 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 |
| McDade Travel Limited (Registered number: SC178386) |
| T/A McDade Coaches |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2022 |
| 8. | LEASING AGREEMENTS - continued |
| Non-cancellable | operating leases |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Deferred tax | 64,458 | 51,987 |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2021 |
| Charge to Statement of Income and Retained Earnings during year |
| Balance at 30 September 2022 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 6 | 6 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The Company is controlled by the Directors. |