Ashford Minibuses Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05959533 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

ASHFORD MINIBUSES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K K Hughes

SECRETARY:

Mr K K Hughes

REGISTERED OFFICE:

45 Kingsnorth Road

Ashford

Kent

TN23 6JB

REGISTERED NUMBER:

05959533 (England and Wales)

ACCOUNTANTS:

MMP Accounting Solutions Ltd

Unit 34 Basepoint

Shearway Business Park

Folkestone

Kent

CT19 4RH

FIXED ASSETS

Intangible assets

4

36,475

46,325

Tangible assets

5

923,445

812,319

Investments

6

100

100

960,020

858,744

CURRENT ASSETS

Stocks

3,500

1,560

Debtors

7

109,292

112,897

Cash at bank

137,328

-

250,120

114,457

CREDITORS

Amounts falling due within one year

8

596,675

397,596

NET CURRENT LIABILITIES

(346,555

)

(283,139

)

TOTAL ASSETS LESS CURRENT LIABILITIES

613,465

575,605

CREDITORS

Amounts falling due after more than one year

9

(39,785

)

(77,277

)

PROVISIONS FOR LIABILITIES

(139,239

)

(110,776

)

NET ASSETS

434,441

387,552

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

434,341

387,452

SHAREHOLDERS' FUNDS

434,441

387,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 director and authorised for issue on 20 October 2023 and were signed by:

Mr K K Hughes - Director

1.	STATUTORY INFORMATION

Ashford Minibuses Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

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

Depreciation is provided at the following annual rates 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 the shorter.

Plant and machinery etc

-

33% on cost, 15% on reducing balance and 10% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill is written off over its estimated useful life and due to the downturn in the local travel trade the directors have reevaluated the life of the asset

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2022

139,705

1,337,519

1,477,224

Additions

-

243,534

243,534

Disposals

-

(91,207

)

(91,207

)

At 30 April 2023

139,705

1,489,846

1,629,551

DEPRECIATION

At 1 May 2022

-

664,905

664,905

Charge for year

-

90,398

90,398

Eliminated on disposal

-

(49,197

)

(49,197

)

At 30 April 2023

-

706,106

706,106

NET BOOK VALUE

At 30 April 2023

139,705

783,740

923,445

At 30 April 2022

139,705

672,614

812,319

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2022

945,523

Additions

53,551

Disposals

(25,936

)

Reclassification/transfer

(677,664

)

At 30 April 2023

295,474

DEPRECIATION

At 1 May 2022

381,940

Charge for year

57,350

Eliminated on disposal

(13,531

)

Reclassification/transfer

(341,800

)

At 30 April 2023

83,959

NET BOOK VALUE

At 30 April 2023

211,515

At 30 April 2022

563,583

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2022

and 30 April 2023

100

NET BOOK VALUE

At 30 April 2023

100

At 30 April 2022

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

103,007

97,422

Other debtors

6,285

15,475

109,292

112,897

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans and overdrafts

10,648

44,119

Hire purchase contracts

55,631

92,691

Trade creditors

128,298

20,219

Taxation and social security

28,561

37,363

Other creditors

373,537

203,204

596,675

397,596

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans

29,845

42,000

Hire purchase contracts

9,940

35,277

39,785

77,277