| Mitcham Belle Coaches Ltd |
| Registered number: |
05540539 |
| Balance Sheet |
| as at 31 December 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Investments |
2 |
|
|
39,248 |
|
|
39,248 |
|
| Current assets |
| Debtors |
3 |
|
47,015 |
|
|
48,060 |
|
| Creditors: amounts falling due within one year |
4 |
|
(86,348) |
|
|
(86,348) |
|
| Net current liabilities |
|
|
|
(39,333) |
|
|
(38,288) |
|
| Net (liabilities)/assets |
|
|
|
(85) |
|
|
960 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
(87) |
|
|
958 |
|
| Shareholders' funds |
|
|
|
(85) |
|
|
960 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| KC Wilde |
| Director |
| Approved by the board on 24 September 2018 |
|
| Mitcham Belle Coaches Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Investments |
|
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
| 2 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 January 2017 |
39,248 |
|
|
At 31 December 2017 |
39,248 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
47,015 |
|
48,060 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Other creditors |
86,348 |
|
86,348 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
FC Wilde (passed away 21 May 2017) |
|
Balance of monies loaned to company included in "other creditors". The amount is interest free. |
85,148 |
|
- |
|
- |
|
85,148 |
|
|
|
85,148 |
|
- |
|
- |
|
85,148 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
Leggs Travel Ltd |
|
Wholly owned subsidiary |
|
In the period to December 2017, no dividend was received from Leggs Travel Ltd (2016 : £30,000), and no management charge (2016 : Nil) was levied to that company. At 31.12.2017, Leggs travel Ltd owed Mitcham Belle Coaches Ltd £47,015 (2016 : £48,059). |
|
|
| 7 |
Controlling party |
|
|
The company is owned by The Estate of FC Wilde, the former director, and his son KC Wilde, who each own 50% of the share capital. |
|
|
| 8 |
Other information |
|
|
Mitcham Belle Coaches Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Pennyfarthing House |
|
560 Brighton Road |
|
South Croydon |
|
Surrey |
|
CR2 6AW |
