Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

RED LINE COACHES LTD - Company Information

Print Friendly Version

2022-09-01 SC479134 2023-08-31 SC479134 2022-09-01 2023-08-31 SC479134 2022-08-31 SC479134 2021-09-01 2022-08-31 SC479134 uk-core:WithinOneYear 2022-08-31 SC479134 uk-core:WithinOneYear 2023-08-31 SC479134 uk-core:ShareCapital 2023-08-31 SC479134 uk-core:ShareCapital 2022-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2022-08-31 SC479134 uk-bus:Director1 2022-09-01 2023-08-31 SC479134 uk-bus:Director2 2022-09-01 2023-08-31 SC479134 uk-core:ToolsEquipment 2022-09-01 2023-08-31 SC479134 uk-core:Vehicles 2022-09-01 2023-08-31 SC479134 uk-core:ToolsEquipment 2022-08-31 SC479134 uk-core:Vehicles 2022-08-31 SC479134 uk-core:Vehicles 2023-08-31 SC479134 uk-core:ToolsEquipment 2023-08-31 iso4217:GBP xbrli:pure SC479134 uk-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 SC479134 uk-bus:FRS102 2022-09-01 2023-08-31 SC479134 uk-bus:FilletedAccounts 2022-09-01 2023-08-31 SC479134 uk-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31
Red Line Coaches Ltd
Registered Number:SC479134
For the year ended 31 August 2023
Scotland
Unaudited Financial Statements
2
For the year ended 31 August 2023
Red Line Coaches Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
SC479134
As at 31 August 2023
Red Line Coaches Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
41,721
42,519
2
41,721
42,519
Current assets
Inventories
260
260
3
Trade and other receivables
54,682
88,611
4
31,427
Cash and cash equivalents
28,925
117,796
86,369
Trade and other payables: amounts falling due within one year
(7,873)
(15,088)
5
78,496
102,708
Net current assets
Total assets less current liabilities
144,429
121,015
144,429
Net assets
121,015
Capital and reserves
Called up share capital
2
2
Retained earnings
144,427
121,013
144,429
121,015
Shareholders' funds
For the year ended 31 August 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Stuart Morrison Director
Mrs Catherine Morrison Director
These financial statements were approved and authorised for issue by the Board on 29 May 2024 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 August 2023
Red Line Coaches Ltd
Notes to the Financial Statements
Statutory Information
Red Line Coaches Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number SC479134.
Registered address:
44 Harefield Avenue
Dundee
DD3 6AW
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Reducing balance
Equipment
25% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
5
For the year ended 31 August 2023
Red Line Coaches Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Equipment
Motor vehicles
£
£
£
Cost or valuation
At 01 September 2022
118,342
3,965
114,377
17,000
-
17,000
Additions
-
(9,995)
Disposals
(9,995)
At 31 August 2023
121,382
3,965
125,347
Provision for depreciation and impairment
At 01 September 2022
75,823
1,529
74,294
Charge for year
13,582
365
13,217
(5,779)
-
(5,779)
On disposal
At 31 August 2023
83,626
1,894
81,732
At 31 August 2023
Net book value
39,650
2,071
41,721
At 31 August 2022
40,083
2,436
42,519
3. Inventories
2022
2023
£
£
Stocks
260
260
4. Trade and other receivables
2022
2023
£
£
Trade debtors
21,029
5,771
Other debtors
67,582
48,911
54,682
88,611
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Taxation and social security
10,368
5,788
Other creditors
4,720
2,085
15,088
7,873
3 of 4
6
For the year ended 31 August 2023
Red Line Coaches Ltd
Notes to the Financial Statements Continued
6. Average number of persons employed
During the year the average number of employees was 14 (2022 : 15)
4 of 4