D J Coaches Limited Small abridged accounts

D J COACHES LIMITED - Company Information

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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS

All of the members of D J Coaches Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 05711835

D J COACHES LIMITED

UNAUDITED ABRIDGED FINANCIAL STATEMENTS

31 December 2016

DYER & CO

Chartered accountant

Onega House

112 Main Road

Sidcup

Kent

DA14 6NE

D J COACHES LIMITED

ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2016

CONTENTS	PAGE

Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements	1

Abridged statement of financial position	2

Statement of changes in equity	4

Notes to the abridged financial statements	5

D J COACHES LIMITED

CHARTERED ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF D J COACHES LIMITED

YEAR ENDED 31 DECEMBER 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of D J Coaches Limited for the year ended 31 December 2016, which comprise the abridged statement of financial position, statement of changes in equity 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of D J Coaches Limited in accordance with the terms of our engagement letter dated 17 February 2016. Our work has been undertaken solely to prepare for your approval the abridged financial statements of D J Coaches Limited and state those matters that we have agreed to state you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D J Coaches Limited and its director for our work or for this report.

It is your duty to ensure that D J Coaches Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and loss of D J Coaches Limited. You consider that D J 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 abridged financial statements of D J 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 abridged financial statements.

DYER & CO Chartered accountant

Onega House 112 Main Road Sidcup Kent DA14 6NE

D J COACHES LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 December 2016

	2016		2015
Note	£	£	£

FIXED ASSETS

Intangible assets	7	–	3,875
Tangible assets	8	1,714,158	1,788,864
		---------------	---------------
		1,714,158	1,792,739

CURRENT ASSETS

Debtors	154,636	171,600
Cash at bank and in hand	295,900	456,459
	------------	------------
	450,536	628,059

CREDITORS: amounts falling due within one year	465,878		503,756
	------------		------------
NET CURRENT (LIABILITIES)/ASSETS		( 15,342)	124,303
		---------------	---------------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,698,816	1,917,042

CREDITORS: amounts falling due after more than one year		1,176,866	1,148,887

PROVISIONS

Taxation including deferred tax	159,146	187,816
	---------------	---------------
NET ASSETS	362,804	580,339
	---------------	---------------

D J COACHES LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 December 2016

	2016		2015
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	51	50
Other reserves	60	60
Profit and loss account	362,693	580,229
	------------	------------
MEMBERS FUNDS	362,804	580,339
	------------	------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 10 April 2017 , and are signed on behalf of the board by:

M Blanks
Director

Company registration number: 05711835

D J COACHES LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 DECEMBER 2016

	Called up share capital	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£
AT 1 JANUARY 2015	50	60	365,178	365,288

Profit for the year			383,848	383,848
	-----	-----	------------	------------
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	–	–	383,848	383,848

Dividends paid and payable	–	–	( 168,797)	( 168,797)
	-----	-----	------------	------------
TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS	–	–	( 168,797)	( 168,797)

AT 31 DECEMBER 2015	50	60	580,229	580,339

Loss for the year			( 47,189)	( 47,189)
	-----	-----	------------	------------
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	–	–	( 47,189)	( 47,189)

Issue of shares	1	–	–	1
Dividends paid and payable	–	–	( 170,347)	( 170,347)
	-----	-----	------------	------------
TOTAL INVESTMENTS BY AND DISTRIBUTIONS TO OWNERS	1	–	( 170,347)	( 170,346)

	-----	-----	------------	------------
AT 31 DECEMBER 2016	51	60	362,693	362,804
	-----	-----	------------	------------

D J COACHES LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2016

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.

2. STATEMENT OF COMPLIANCE

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 13.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

		-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. STAFF COSTS

The average number of persons employed by the company during the year, including the director, amounted to 45 (2015: 45).

5. PROFIT BEFORE TAXATION

(Loss)/profit before taxation is stated after charging:

	2016	2015
	£	£
Amortisation of intangible assets	3,875	9,300
Depreciation of tangible assets	544,688	460,278
	------------	------------

6. TAX ON (LOSS)/PROFIT

Major components of tax (income)/expense

	2016	2015
	£	£

Current tax:

UK current tax expense	18,204	46,753

Deferred tax:

Origination and reversal of timing differences	( 28,670)	41,102
	----------	----------
Tax on (loss)/profit	( 10,466)	87,855
	----------	----------

7. INTANGIBLE ASSETS

	£
Cost
At 1 January 2016 and 31 December 2016	93,000
	----------
Amortisation
At 1 January 2016	89,125
Charge for the year	3,875
	----------
At 31 December 2016	93,000
	----------
Carrying amount
At 31 December 2016	–
	----------
At 31 December 2015	3,875
	----------

8. TANGIBLE ASSETS

	£
Cost
At 1 January 2016	3,041,398
Additions	472,053
Disposals	( 3,710)
	---------------
At 31 December 2016	3,509,741
	---------------
Depreciation
At 1 January 2016	1,252,534
Charge for the year	544,688
Disposals	( 1,639)
	---------------
At 31 December 2016	1,795,583
	---------------
Carrying amount
At 31 December 2016	1,714,158
	---------------
At 31 December 2015	1,788,864
	---------------

9. FINANCE LEASES AND HIRE PURCHASE CONTRACTS

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2016	2015
	£	£
Not later than 1 year	( 309,171)	( 316,397)
Later than 1 year and not later than 5 years	( 832,457)	( 987,409)
Later than 5 years	( 344,409)	( 144,940)
	---------------	---------------
	( 1,486,037)	( 1,448,746)
	---------------	---------------

10. DEFERRED TAX

The deferred tax included in the abridged statement of financial position is as follows:

	2016	2015
	£	£
Included in provisions	159,146	187,816
	------------	------------

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 December 2016, the company owes M Blanks £10 (2015: £287). This is an interest free loan from the director and has no terms attached. The director continues to support the company. Mr M Blanks £ Equity dividends paid during the year 70,173 =======

12. RELATED PARTY TRANSACTIONS

The company was under the control of M Blanks throughout the current and previous year. M Blanks is the managing director and majority shareholder.

13. TRANSITION TO FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.