Company Registration No. 04267657 (England and Wales)
Imperial Coaches Limited
Unaudited accounts
for the year ended 31 August 2016
Imperial Coaches Limited
Unaudited accounts
Contents
Imperial Coaches Limited
Company Information
for the year ended 31 August 2016
Directors
Mr I Johal
Mr M Johal
Company Number
04267657 (England and Wales)
Registered Office
307-311 Colnbrook Bypass
Colnbrook
Slough
Berkshire
SL3 0EA
Accountants
The Bean Counters Accountants LLP
29 High Street
Marlow
Bucks
SL7 1AU
Imperial Coaches Limited
Accountants' report
Accountants' report to the board of directors of Imperial Coaches Limited on the preparation of the unaudited statutory accounts for the year ended 31 August 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Imperial Coaches Limited for the year ended
31 August 2016 as set out on pages
5 -
9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Imperial Coaches Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Imperial Coaches Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Imperial Coaches Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Imperial Coaches Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Imperial Coaches Limited. You consider that Imperial Coaches 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 accounts of Imperial Coaches 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 accounts.
The Bean Counters Accountants LLP
29 High Street
Marlow
Bucks
SL7 1AU
17 April 2017
Imperial Coaches Limited
Statement of financial position
as at
31 August 2016
Tangible assets
2,740,526
2,529,157
Cash at bank and in hand
248,767
247,668
Creditors: amounts falling due within one year
(603,438)
(676,800)
Net current liabilities
(188,593)
(342,809)
Total assets less current liabilities
2,551,933
2,186,348
Creditors: amounts falling due after more than one year
(396,805)
(413,090)
Provisions for liabilities
Deferred tax
(471,588)
(454,033)
Net assets
1,683,540
1,319,225
Called up share capital
100
100
Profit and loss account
1,683,440
1,319,125
Shareholders' funds
1,683,540
1,319,225
For the year ending 31 August 2016 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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.
Approved by the Board on 17 April 2017.
Mr I Johal
Director
Company Registration No. 04267657
Imperial Coaches Limited
Statement of Changes in Equity
as at
31 August 2016
Share
capital
Profit
& loss
account
Total
At 1 September 2014
100
865,174
865,274
Profit for the year
483,981
483,981
Dividends
(30,030)
(30,030)
At 31 August 2015
100
1,319,125
1,319,225
At 1 September 2015
100
1,319,125
1,319,225
Profit for the year
459,687
459,687
Dividends
(95,372)
(95,372)
At 31 August 2016
100
1,683,440
1,683,540
Imperial Coaches Limited
Notes to the Accounts
for the year ended 31 August 2016
Imperial Coaches Limited is a private company, limited by shares, registered in England and Wales, registration number 04267657. The registered office and principal place of business is 307-311 Colnbrook Bypass, Colnbrook, Slough, Berkshire, SL3 0EA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0% Buildings and 10% straight line on leasehold improvements
Plant & machinery
20% straight line
Motor vehicles
10% straight line
Fixtures & fittings
20% straight line
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Imperial Coaches Limited
Notes to the Accounts
for the year ended 31 August 2016
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2015
690,380
140,444
2,522,962
9,750
3,363,536
Additions
-
37,056
532,589
-
569,645
Disposals
-
-
(51,050)
-
(51,050)
At 31 August 2016
690,380
177,500
3,004,501
9,750
3,882,131
At 1 September 2015
44,561
74,647
710,012
5,159
834,379
Charge for the year
16,819
33,606
287,053
1,949
339,427
On disposals
-
-
(32,201)
-
(32,201)
At 31 August 2016
61,380
108,253
964,864
7,108
1,141,605
At 31 August 2016
629,000
69,247
2,039,637
2,642
2,740,526
At 31 August 2015
645,819
65,797
1,812,950
4,591
2,529,157
Trade debtors
124,786
72,756
Accrued income and prepayments
38,040
13,567
Imperial Coaches Limited
Notes to the Accounts
for the year ended 31 August 2016
6
Creditors: amounts falling due within one year
2016
2015
Obligations under finance leases and hire purchase contracts
151,286
184,288
Trade creditors
37,623
42,778
Corporation tax
109,170
55,362
Other taxes and social security costs
21,535
6,805
Other creditors
3,457
387,567
Loans from directors
280,367
-
7
Creditors: amounts falling due after more than one year
2016
2015
Obligations under finance leases and hire purchase contracts
396,805
413,090
8
Share capital
2016
2015
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company is controlled by its shareholders by virtue of their shareholding with no individual shareholder having a controlling share of the company.
10
Average number of employees
During the year the average number of employees was 31 (2015: 23).