ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

ASTONS COACHES LIMITED - Company Information

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Caseware UK (AP4) 2016.0.208 2016.0.208 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-01-01 03932865 2017-01-01 2017-12-31 03932865 2016-01-01 2016-12-31 03932865 2017-12-31 03932865 2016-12-31 03932865 2016-01-01 03932865 c:Director1 2017-01-01 2017-12-31 03932865 d:Buildings 2017-12-31 03932865 d:Buildings 2016-12-31 03932865 d:Buildings d:LongLeaseholdAssets 2017-01-01 2017-12-31 03932865 d:PlantMachinery 2017-01-01 2017-12-31 03932865 d:PlantMachinery 2017-12-31 03932865 d:PlantMachinery 2016-12-31 03932865 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03932865 d:MotorVehicles 2017-01-01 2017-12-31 03932865 d:MotorVehicles 2017-12-31 03932865 d:MotorVehicles 2016-12-31 03932865 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03932865 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2017-01-01 2017-12-31 03932865 d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 03932865 d:LeasedAssetsHeldAsLessee 2017-01-01 2017-12-31 03932865 d:CurrentFinancialInstruments 2017-12-31 03932865 d:CurrentFinancialInstruments 2016-12-31 03932865 d:Non-currentFinancialInstruments 2017-12-31 03932865 d:Non-currentFinancialInstruments 2016-12-31 03932865 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 03932865 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 03932865 d:Non-currentFinancialInstruments d:AfterOneYear 2017-12-31 03932865 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 03932865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2017-12-31 03932865 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2016-12-31 03932865 d:ShareCapital 2017-12-31 03932865 d:ShareCapital 2016-12-31 03932865 d:ShareCapital 2016-01-01 03932865 d:RetainedEarningsAccumulatedLosses 2017-01-01 2017-12-31 03932865 d:RetainedEarningsAccumulatedLosses 2017-12-31 03932865 d:RetainedEarningsAccumulatedLosses 2016-01-01 2016-12-31 03932865 d:RetainedEarningsAccumulatedLosses 2016-12-31 03932865 d:RetainedEarningsAccumulatedLosses 2016-01-01 03932865 c:FRS102 2017-01-01 2017-12-31 03932865 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 03932865 c:FullAccounts 2017-01-01 2017-12-31 03932865 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 03932865 d:WithinOneYear 2017-12-31 03932865 d:WithinOneYear 2016-12-31 03932865 d:BetweenOneFiveYears 2017-12-31 03932865 d:HirePurchaseContracts d:WithinOneYear 2017-12-31 03932865 d:HirePurchaseContracts d:WithinOneYear 2016-12-31 03932865 d:HirePurchaseContracts d:BetweenOneFiveYears 2017-12-31 03932865 d:HirePurchaseContracts d:BetweenOneFiveYears 2016-12-31 iso4217:GBP

Registered number: 03932865
















ASTONS COACHES LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017
































ASTONS COACHES LIMITED
REGISTERED NUMBER:03932865

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2017

2017
2016
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
2,454,783
2,378,531

  
2,454,783
2,378,531

CURRENT ASSETS
  

Stocks
 5 
35,545
31,272

Debtors: amounts falling due within one year
 6 
416,993
398,894

Cash at bank and in hand
 7 
492,430
235,767

  
944,968
665,933

Creditors: amounts falling due within one year
 8 
(1,199,340)
(831,552)

NET CURRENT LIABILITIES
  
(254,372)
(165,619)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,200,411
2,212,912

Creditors: amounts falling due after more than one year
 9 
(492,267)
(517,035)

  

NET ASSETS
  
1,708,144
1,695,877


CAPITAL AND RESERVES
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
1,698,144
1,685,877

  
1,708,144
1,695,877


Page 1

ASTONS COACHES LIMITED
REGISTERED NUMBER:03932865
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2017

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr J J O'Brien
Director

Date: 11 September 2018
The notes on pages 4 to 9 form part of these financial statements.

Page 2

ASTONS COACHES LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2017


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2016
10,000
1,595,093
1,605,093


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year

-
90,784
90,784
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
90,784
90,784



At 1 January 2017
10,000
1,685,877
1,695,877


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year

-
12,267
12,267
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
12,267
12,267


AT 31 DECEMBER 2017
10,000
1,698,144
1,708,144

The notes on pages 4 to 9 form part of these financial statements.

Page 3

ASTONS COACHES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1.


GENERAL INFORMATION

Astons Coaches Limited, registered number 03932865, is a private limited company incorporated in England and Wales. The registered office is Clerkenleap, Bath Road, Broomhall, Worcester, WR5 3HR. The company is limited by shares. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model 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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the lease term
Plant and machinery
-
3 - 5 years
Motor vehicles
-
5 to 15 years

The assets' 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 the Statement of comprehensive income.

 
2.3

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

ASTONS COACHES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

2.ACCOUNTING POLICIES (continued)

 
2.4

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 January 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 74 (2016: 70).

Page 5

ASTONS COACHES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

4.


TANGIBLE FIXED ASSETS





Land and building
Plant and machinery
Motor vehicles
Total

£
£
£
£



COST OR VALUATION


At 1 January 2017
35,734
69,050
3,511,950
3,616,734


Additions
-
10,534
560,865
571,399


Disposals
-
-
(240,986)
(240,986)



At 31 December 2017

35,734
79,584
3,831,829
3,947,147



DEPRECIATION


At 1 January 2017
35,734
53,165
1,149,304
1,238,203


Charge for the year on owned assets
-
5,993
160,706
166,699


Charge for the year on financed assets
-
-
153,092
153,092


Disposals
-
-
(65,630)
(65,630)



At 31 December 2017

35,734
59,158
1,397,472
1,492,364



NET BOOK VALUE



At 31 December 2017
-
20,426
2,434,357
2,454,783



At 31 December 2016
-
15,885
2,362,646
2,378,531

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2017
2016
£
£



Motor vehicles
1,478,611
1,163,737

1,478,611
1,163,737


5.


STOCKS

2017
2016
£
£

Raw materials and consumables
35,545
31,272

35,545
31,272


Page 6

ASTONS COACHES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

6.


DEBTORS

2017
2016
£
£


Trade debtors
280,721
292,029

Other debtors
28,441
36,692

Prepayments and accrued income
107,831
70,173

416,993
398,894



7.


CASH AND CASH EQUIVALENTS

2017
2016
£
£

Cash at bank and in hand
492,430
235,767

492,430
235,767



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017
2016
£
£

Other loans
17,000
17,000

Trade creditors
158,505
109,921

Amounts owed to group undertakings
574,718
325,718

Other taxation and social security
33,711
42,357

Obligations under finance lease and hire purchase contracts
244,018
189,018

Other creditors
7,807
10,478

Accruals and deferred income
163,581
137,060

1,199,340
831,552



9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017
2016
£
£

Other loans
45,333
62,333

Net obligations under finance leases and hire purchase contracts
446,934
454,702

492,267
517,035


Page 7

ASTONS COACHES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

10.


LOANS


Analysis of the maturity of loans is given below:


2017
2016
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Other loans
17,000
17,000


AMOUNTS FALLING DUE 2-5 YEARS

Other loans
45,333
62,333


TOTAL
62,333
79,333



11.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2017
2016
£
£


Within one year
244,018
189,018

Between 1-5 years
446,934
454,702

690,952
643,720


12.


PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,634 (2016: £9,594). Contributions totalling £229 (2016: £Nil) were payable to the fund at the balance sheet date and are included in creditors.


13.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2017 the company had future minimum lease payments under non-cancellable operating leases as follows:

2017
2016
£
£


Not later than 1 year
77,500
49,313

Later than 1 year and not later than 5 years
116,250
-

193,750
49,313

Page 8

ASTONS COACHES LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

14.


RELATED PARTY TRANSACTIONS


2017
2016
£
£

Loan from a related person
62,333
79,333


15.


CONTROLLING PARTY

The ultimate and immediate parent undertaking is Amerton Holdco Limited, a company registered in England and Wales. Mr J J O'Brien is the ultimate controlling party by virtue of his shareholding.

 
Page 9