Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

Red Line Coaches Ltd,Ltd - AccountsLtd - Accounts

RED LINE COACHES LTD - Company Information

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2016-09-01 SC479134 2017-08-31 SC479134 2016-09-01 2017-08-31 SC479134 2016-08-31 SC479134 2015-09-01 2016-08-31 SC479134 uk-core:WithinOneYear 2016-08-31 SC479134 uk-core:WithinOneYear 2017-08-31 SC479134 uk-core:AfterOneYear 2016-08-31 SC479134 uk-core:AfterOneYear 2017-08-31 SC479134 uk-core:ShareCapital 2017-08-31 SC479134 uk-core:ShareCapital 2016-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2017-08-31 SC479134 uk-core:RetainedEarningsAccumulatedLosses 2016-08-31 SC479134 uk-bus:Director1 2016-09-01 2017-08-31 SC479134 uk-core:Vehicles 2016-09-01 2017-08-31 SC479134 uk-core:WithinOneYear 2017-08-31 SC479134 uk-core:WithinOneYear 2016-08-31 iso4217:GBP SC479134 uk-bus:AuditExemptWithAccountantsReport 2016-09-01 2017-08-31 SC479134 uk-bus:FRS102 2016-09-01 2017-08-31 SC479134 uk-bus:FullAccounts 2016-09-01 2017-08-31 SC479134 uk-bus:PrivateLimitedCompanyLtd 2016-09-01 2017-08-31
Red Line Coaches Ltd
Registered Number:SC479134
For the year ended 31 August 2017
Scotland
Unaudited Financial Statements
2
For the year ended 31 August 2017
Red Line Coaches Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 August 2017
Red Line Coaches Ltd
Statement of Financial Position
Registered Number :
SC479134
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
36,031
43,541
2
36,031
43,541
Current assets
Inventories
315
315
3
Trade and other receivables
8,890
14,584
4
4,367
Cash and cash equivalents
20,586
35,485
13,572
Trade and other payables: amounts falling due within one year
(34,427)
(49,951)
5
(20,855)
(14,466)
Net current liabilities
Total assets less current liabilities
21,565
22,686
Trade and other payables: amounts falling due after more than one year
-
(5,765)
6
15,800
Net assets
22,686
Capital and reserves
Called up share capital
2
2
Retained earnings
15,798
22,684
15,800
22,686
Shareholders' funds
For the year ended 31 August 2017 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 2017 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 Stuart Morrison Director
These financial statements were approved and authorised for issue by the Board on 23 April 2018 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 August 2017
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:
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. Property, plant and equipment
Motor vehicles
£
Cost or valuation
At 01 September 2016
59,897
4,500
Additions
At 31 August 2017
64,397
Provision for depreciation and impairment
At 01 September 2016
16,356
Charge for year
12,010
At 31 August 2017
28,366
At 31 August 2017
Net book value
36,031
At 31 August 2016
43,541
2 of 3
5
For the year ended 31 August 2017
Red Line Coaches Ltd
Notes to the Financial Statements Continued
3. Inventories
2016
2017
£
£
Stocks
315
315
4. Trade and other receivables
2016
2017
£
£
Trade debtors
13,346
5,348
Other debtors
1,238
3,542
8,890
14,584
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Bank loans and overdraft
-
3,181
Taxation and social security
1,518
1,568
Other creditors
48,433
29,678
49,951
34,427
6. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Bank loans and overdraft (secured)
5,765
-
3 of 3