Durham Bus and Coach Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06936678 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Durham Bus and Coach Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Spencer

REGISTERED OFFICE:

Central Workshop

Dean and Chapter Industrial Estate

Ferryhill

Co. Durham

DL17 8LH

REGISTERED NUMBER:

06936678 (England and Wales)

ACCOUNTANTS:

KING HOPE

CHARTERED ACCOUNTANTS

18 Scarborough Street

Hartlepool

TS24 7DA

FIXED ASSETS

Intangible assets

4

12,000

13,000

Tangible assets

5

55,168

71,886

67,168

84,886

CURRENT ASSETS

Stocks

500

500

Debtors

6

73,657

46,227

Cash in hand

16

193

74,173

46,920

CREDITORS

Amounts falling due within one year

7

70,667

47,387

NET CURRENT ASSETS/(LIABILITIES)

3,506

(467

)

TOTAL ASSETS LESS CURRENT LIABILITIES

70,674

84,419

CREDITORS

Amounts falling due after more than one year

8

(13,895

)

(30,484

)

PROVISIONS FOR LIABILITIES

(11,034

)

(14,377

)

NET ASSETS

45,745

39,558

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

45,744

39,557

SHAREHOLDERS' FUNDS

45,745

39,558

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 21 July 2017 and were signed by:

P Spencer - Director

1.	STATUTORY INFORMATION

Durham Bus and Coach 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 the provisions of Section 1A "Small Entities" 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 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 2009, 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

-

25% on reducing balance

Motor vehicles

-

25% 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 Profit and Loss Account,

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

20,000

AMORTISATION

At 1 April 2016

7,000

Charge for year

1,000

At 31 March 2017

8,000

NET BOOK VALUE

At 31 March 2017

12,000

At 31 March 2016

13,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2016

23,261

85,716

108,977

Additions

1,003

-

1,003

At 31 March 2017

24,264

85,716

109,980

DEPRECIATION

At 1 April 2016

15,939

21,152

37,091

Charge for year

1,580

16,141

17,721

At 31 March 2017

17,519

37,293

54,812

NET BOOK VALUE

At 31 March 2017

6,745

48,423

55,168

At 31 March 2016

7,322

64,564

71,886

The net book value of tangible fixed assets includes £ 41,794 (2016 - £ 62,534 ) in respect of assets held under

hire purchase contracts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

73,657

46,227

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

3,239

7,264

Hire purchase contracts

17,260

17,607

Trade creditors

6,811

9,364

Taxation and social security

36,452

9,057

Other creditors

6,905

4,095

70,667

47,387

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

13,895

30,484