| Registered Number:SC479134 |
For the year ended 31 August 2016
Scotland
Unaudited Financial Statements
For the year ended 31 August 2016
Red Line Coaches Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Red Line Coaches Ltd
Statement of Financial Position
2015
2016
| Property, plant and equipment |
43,541
35,100
2
43,541
35,100
315
315
| Trade and other receivables |
8,864
8,890
3
32,253
| Cash and cash equivalents |
4,367
13,572
41,432
| Trade and other payables: amounts falling due within one year |
(56,014)
(34,427)
4
(14,582)
(20,855)
Net current liabilities
| Total assets less current liabilities |
22,686
20,518
22,686
Net assets
20,518
2
2
22,684
20,516
22,686
20,518
Shareholders' funds
| For the year ended 31 August 2016 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 2016 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 of Part 15 of the Companies Act 2006 relating to small companies. |
| Mr James Morrison Director |
| These financial statements were approved and authorised for issue by the Board on 29 May 2017 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 August 2016
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. |
44 Harefield Avenue
Dundee
DD3 6AW
| The presentation currency is £ sterling. |
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: |
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. Property, plant and equipment |
Motor vehicles
36,947
22,950
59,897
| Provision for depreciation and impairment |
1,847
Charge for year
14,509
16,356
43,541
35,100
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For the year ended 31 August 2016
Red Line Coaches Ltd
Notes to the Financial Statements Continued
| 3. Trade and other receivables |
2015
2016
5,348
8,177
3,542
687
8,864
8,890
| 4. Trade and other payables: amounts falling due within one year |
2015
2016
3,181
1,593
| Taxation and social security |
1,568
7,501
29,678
46,920
34,427
56,014
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