Ratho Coaches Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC216681 (Scotland)

Abbreviated Accounts for the Year Ended 31 March 2015

for

Ratho Coaches Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

A R Cowan

C A McIntosh

SECRETARY:

C A McIntosh

REGISTERED OFFICE:

11 Newbridge Ind Estate

Newbridge, Edinburgh

Lothian

EH28 8PJ

REGISTERED NUMBER:

SC216681 (Scotland)

ACCOUNTANTS:

IDS and Co

Chartered Accountants

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

FIXED ASSETS

Intangible assets

2

50,000

75,000

Tangible assets

3

1,037,558

943,002

1,087,558

1,018,002

CURRENT ASSETS

Stocks

35,571

22,018

Debtors

91,835

100,862

Cash at bank and in hand

22,343

920

149,749

123,800

CREDITORS

Amounts falling due within one year

4

287,594

300,657

NET CURRENT LIABILITIES

(137,845

)

(176,857

)

TOTAL ASSETS LESS CURRENT LIABILITIES

949,713

841,145

CREDITORS

Amounts falling due after more than one year

4

855,083

795,929

NET ASSETS

94,630

45,216

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

94,628

45,214

SHAREHOLDERS' FUNDS

94,630

45,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 October 2015 and were signed on its behalf by:

C A McIntosh - Director

A R Cowan - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes that the company will

continue in operational existence in the foreseeable future. The directors consider this to be the appropriate basis

to use based on their knowledge of the businesses and as the company is meeting its debts as they fall due.

The validity of this assumption depends upon the directors and bankers continuing their support by providing

adequate working capital to the company

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following rates on a monthly basis from acquisition to disposal, in order to write

off each asset over its estimated useful life, or, if held under a finance lease, over the lease term, whichever is

shorter.

Plant and machinery - 20% on reducing balance

Motor Vehicles - 12%, 14% and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

250,000

AMORTISATION

At 1 April 2014

175,000

Amortisation for year

25,000

At 31 March 2015

200,000

NET BOOK VALUE

At 31 March 2015

50,000

At 31 March 2014

75,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

1,308,691

Additions

357,343

Disposals

(154,500

)

At 31 March 2015

1,511,534

DEPRECIATION

At 1 April 2014

365,689

Charge for year

129,585

Eliminated on disposal

(21,298

)

At 31 March 2015

473,976

NET BOOK VALUE

At 31 March 2015

1,037,558

At 31 March 2014

943,002

4.

CREDITORS

Creditors include an amount of £ 75,000 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

2

Ordinary

£1

2

2

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors have introduced £49,879 and were repaid £88,873. The outstanding

balance as at 31 March 2015 is £92,583 (31.3.14 - £131,577).

Mr A Cowan has given a personal guarantee in relation to the bank overdraft, finance leases and the Funding

circle loan.

7.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Ratho Coaches Limited for the year ended 31 March 2015 which comprise the Profit and Loss

Account, the 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 Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Ratho 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 Ratho Coaches Limited and state those matters that we have agreed to state to the Board of Directors of Ratho Coaches Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. 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 Ratho 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 Ratho Coaches Limited. You consider that Ratho 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 Ratho 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.

IDS and Co

Chartered Accountants

38 Beansburn

Kilmarnock

Ayrshire

KA3 1RL

30 October 2015