Autocar Bus & Coach Services Limited - Accounts to registrar

REGISTERED NUMBER: 04276650 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2016

for

AUTOCAR BUS & COACH

SERVICES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr J F B Brown

SECRETARY:

Barrons Limited

REGISTERED OFFICE:

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

REGISTERED NUMBER:

04276650 (England and Wales)

ACCOUNTANTS:

Barrons

Chartered Accountants

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Autocar Bus & Coach Services Limited for the year ended 31st December 2016 which comprise

the Income Statement, Balance Sheet, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Autocar Bus & Coach Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Autocar Bus & Coach Services Limited and state those matters that we have agreed to state to the director of Autocar Bus & Coach Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Autocar Bus & Coach Services Limited director for our work or for this report.

It is your duty to ensure that Autocar Bus & Coach Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Autocar Bus & Coach Services Limited. You consider that Autocar Bus & Coach Services 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 financial statements of Autocar Bus & Coach Services 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 financial statements.

Barrons

Chartered Accountants

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

26th September 2017

FIXED ASSETS

Tangible assets

4

-

Investments

5

1,450

CURRENT ASSETS

Debtors

6

267,847

231,152

Cash at bank

462,929

490,616

730,776

721,768

CREDITORS

Amounts falling due within one year

7

237,494

265,062

NET CURRENT ASSETS

493,282

456,706

TOTAL ASSETS LESS CURRENT
LIABILITIES

494,732

458,156

CAPITAL AND RESERVES

Called up share capital

50

Capital redemption reserve

50

Retained earnings

494,632

458,056

SHAREHOLDERS' FUNDS

494,732

458,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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 Income Statement has not been delivered.

The financial statements were approved by the director on 26th September 2017 and were signed by:

Mr J F B Brown - Director

1.	STATUTORY INFORMATION

Autocar Bus & Coach Services 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

The turnover is measured as the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes. The following criteria must also be met before the revenue is

recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

the Company has transferred the significant risks and rewards of ownership to the buyer;

-

the Company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the contract;

-

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment

losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and

condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less residual value over their estimated useful lives,

using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery

- 20% Straight Line

Fixtures, fittings and equipment

- 20% Straight Line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are

recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a money purchase pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amount of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate of

interest. Such instruments are subsequently carried at amortised cost using effective interest method, less any

impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2015 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2016

and 31st December 2016

10,306

DEPRECIATION

At 1st January 2016

and 31st December 2016

10,306

NET BOOK VALUE

At 31st December 2016

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2016

and 31st December 2016

1,450

NET BOOK VALUE

At 31st December 2016

1,450

At 31st December 2015

1,450

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Trade debtors

24,164

14,304

Other debtors

243,683

216,848

267,847

231,152

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Trade creditors

165,281

200,656

Taxation and social security

18,939

13,928

Other creditors

53,274

50,478

237,494

265,062

8.	RELATED PARTY DISCLOSURES

As at the balance sheet date, the company was owed £81,326 (2015: £13) by a company it has common directors

and shareholders with.

9.	TRANSITION TO FRS 102

This is the first year that the Company has presented its results under FRS 102. The last financial statements

under UK GAAP were for the year ended 31 December 2015. The date of transition to FRS 102 was 1 January

2015. There are no transitional adjustments arising from the first time adoption of FRS 102.

Autocar Bus & Coach Services Limited - Accounts to registrar - small 17.2

Autocar Bus & Coach Services Limited - Accounts to registrar - small 17.2