REGISTERED NUMBER:
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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PARK'S OF HAMILTON (COACH HIRERS) LTD |
REGISTERED NUMBER:
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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FOR |
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PARK'S OF HAMILTON (COACH HIRERS) LTD |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2016 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 5 |
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Income Statement | 7 |
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Other Comprehensive Income | 8 |
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Balance Sheet | 9 |
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Statement of Changes in Equity | 10 |
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Cash Flow Statement | 11 |
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Notes to the Cash Flow Statement | 12 |
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Notes to the Financial Statements | 13 |
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Reconciliation of Equity | 20 |
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Reconciliation of Profit | 22 |
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PARK'S OF HAMILTON (COACH HIRERS) LTD |
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COMPANY INFORMATION |
for the Year Ended 31 MARCH 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
Chartered Accountants |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
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BANKERS: |
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110 St Vincent Street |
Glasgow |
G2 5ER |
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SOLICITORS: |
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2 Blythswood Square |
Glasgow |
G2 4AD |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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STRATEGIC REPORT |
for the Year Ended 31 MARCH 2016 |
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The directors present their strategic report for the year ended 31 March 2016. |
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REVIEW OF BUSINESS |
We aim to present a balanced and comprehensive review of the development and performance of our business during |
the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business |
and is written in the context of the risks and uncertainties we face. |
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The company continues to operate as an express coach operator along with providing private hire for the general public. |
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We consider that our key financial performance indicators are those that communicate the financial performance and |
strength of the company as a whole, these being turnover and operating profit. |
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2016 | 2015 |
£ | £ |
Turnover | 27,776,094 | 27,393,620 |
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Turnover has increased by over 1.4%. |
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Operating profit has reduced from £3,277,008 to £3,189,365. Profit before tax has fallen from £2,987,199 to |
£2,953,776. After taxation and dividends £(210,814) has been deducted from reserves. |
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As for many businesses of our size, the business environment in which we operate continues to be challenging. We are |
subject to consumer spending patterns and consumers' overall level of disposable income within our economy. |
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With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may |
be subject to unforeseen events outside of our control. |
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ON BEHALF OF THE BOARD: |
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31 October 2016 |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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REPORT OF THE DIRECTORS |
for the Year Ended 31 MARCH 2016 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2016. |
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DIVIDENDS |
An interim dividend of £ |
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The total distribution of dividends for the year ended 31 March 2016 will be £
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FUTURE DEVELOPMENTS |
The Directors will continue to look for opportunities to expand the Company's core business. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2015 to the date of this report. |
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Other changes in directors holding office are as follows: |
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EMPLOYEES |
Every effort is made to keep staff informed of and involved in the operations and progress of the company. |
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The company is committed to providing a safe and pleasant environment for its employees and training and career |
development opportunities are available. No discrimination is made on the grounds of age, colour, disability, marital |
status, race, religion or sex. Employees are given the opportunity to develop and progress according to their ability. |
Disabled people are given fair consideration for all job vacancies for which they offer themselves as suitable applicants, |
having regard to their particular aptitudes and abilities. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors |
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not |
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the |
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors |
are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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REPORT OF THE DIRECTORS |
for the Year Ended 31 MARCH 2016 |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken |
as a director in order to make himself aware of any relevant audit information and to establish that the company's |
auditors are aware of that information. |
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AUDITORS |
The auditors, Thomas Barrie & Co LLP, will be proposed for re-appointment at the forthcoming Annual General |
Meeting. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PARK'S OF HAMILTON (COACH HIRERS) LTD |
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We have audited the financial statements of Park's of Hamilton (Coach Hirers) Ltd for the year ended 31 March 2016 |
on pages seven to twenty two. The financial reporting framework that has been applied in their preparation is applicable |
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
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Respective responsibilities of directors and auditors |
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Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give |
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. |
This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and |
have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by |
the directors; and the overall presentation of the financial statements. In addition, we read all the financial and |
non-financial information in the Strategic Report and the Report of the Directors to identify material inconsistencies |
with the audited financial statements and to identify any information that is apparently materially incorrect based on, or |
materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of |
any apparent material misstatements or inconsistencies we consider the implications for our report. |
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Opinion on financial statements |
In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 31 March 2016 and of its profit for the year then
ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion the information given in the Strategic Report and the Report of the Directors for the financial year for |
which the financial statements are prepared is consistent with the financial statements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PARK'S OF HAMILTON (COACH HIRERS) LTD |
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Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to |
you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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for and on behalf of
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Statutory Auditor |
Chartered Accountants |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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INCOME STATEMENT |
for the Year Ended 31 MARCH 2016 |
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2015 | 2016 |
£ | £ | Notes | £ | £ |
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TURNOVER |
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Other operating income |
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27,421,637 | 27,808,692 |
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Raw materials and consumables |
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17,218,639 | 18,121,120 |
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Staff costs | 2 |
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Depreciation |
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Other operating charges |
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13,941,631 | 14,931,755 |
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OPERATING PROFIT | 3 |
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Interest payable and similar charges | 4 |
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PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
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Tax on profit on ordinary activities | 5 |
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PROFIT FOR THE FINANCIAL YEAR |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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OTHER COMPREHENSIVE INCOME |
for the Year Ended 31 MARCH 2016 |
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2015 | 2016 |
£ | Notes | £ |
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PROFIT FOR THE YEAR |
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- | OTHER COMPREHENSIVE INCOME | - |
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TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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BALANCE SHEET |
31 MARCH 2016 |
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2015 | 2016 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
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Tangible assets | 7 |
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CURRENT ASSETS |
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Stocks | 8 |
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Debtors | 9 |
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Cash at bank and in hand |
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CREDITORS |
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Amounts falling due within one year | 10 |
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( |
) | NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
( |
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Amounts falling due after more than one
year |
11 |
( |
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( |
) | PROVISIONS FOR LIABILITIES | 14 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called up share capital | 15 |
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Retained earnings | 16 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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STATEMENT OF CHANGES IN EQUITY |
for the Year Ended 31 MARCH 2016 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 1 April 2014 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 31 March 2015 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 31 March 2016 |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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CASH FLOW STATEMENT |
for the Year Ended 31 MARCH 2016 |
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2015 | 2016 |
£ | Notes | £ |
Cash flows from operating activities |
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Cash generated from operations | 1 |
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Interest paid | ( |
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( |
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Interest element of hire purchase payments
paid |
( |
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( |
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Net cash from operating activities |
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Cash flows from investing activities |
( |
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Sale of tangible fixed assets |
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Net cash from investing activities |
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Cash flows from financing activities |
( |
) | Capital repayments in year | ( |
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( |
) | Equity dividends paid | ( |
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( |
) | Net cash from financing activities | ( |
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Increase in cash and cash equivalents |
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962,613 |
Cash and cash equivalents at beginning of
year |
2 |
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2,899,908 | Cash and cash equivalents at end of year | 2 | 4,129,121 |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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NOTES TO THE CASH FLOW STATEMENT |
for the Year Ended 31 MARCH 2016 |
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1. |
RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS |
2016 | 2015 |
£ | £ |
Profit before taxation |
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Depreciation charges |
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Profit on disposal of fixed assets | ( |
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Finance costs | 235,589 | 289,809 |
6,765,553 | 6,532,174 |
(Increase)/decrease in stocks | ( |
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Decrease in trade and other debtors |
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Increase in trade and other creditors |
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Cash generated from operations |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of |
these Balance Sheet amounts: |
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Year ended 31 March 2016 |
31.3.16 | 1.4.15 |
£ | £ |
Cash and cash equivalents | 4,129,121 | 2,899,908 |
Year ended 31 March 2015 |
31.3.15 | 1.4.14 |
£ | £ |
Cash and cash equivalents | 2,899,908 | 962,613 |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 MARCH 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is generated from operating express & local coach services across the UK and the private hire of |
luxury coaches to the general public. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Computer equipment | - | 25% on cost |
Plant and machinery | - | 10% to 25% on cost |
Fixtures and fittings | - | 25% on cost |
Motor vehicles | - | 25% on cost |
Coaches | - | from 10% on cost |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Foreign currencies |
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 rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2016 |
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2. | STAFF COSTS |
2016 | 2015 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average monthly number of employees during the year was as follows: |
2016 | 2015 |
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Office and Management | 28 | 28 |
Production | 299 | 299 |
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3. | OPERATING PROFIT |
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The operating profit is stated after charging/(crediting): |
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2016 | 2015 |
£ | £ |
Depreciation - owned assets |
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Depreciation - assets on hire purchase contracts |
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Profit on disposal of fixed assets | ( |
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Auditors' remuneration |
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Directors' remuneration |
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4. | INTEREST PAYABLE AND SIMILAR CHARGES |
2016 | 2015 |
£ | £ |
Bank interest |
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Hire purchase |
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5. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
2016 | 2015 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax | ( |
) | ( |
) |
Tax on profit on ordinary activities |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2016 |
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5. | TAXATION - continued |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is |
explained below: |
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2016 | 2015 |
£ | £ |
Profit on ordinary activities before tax |
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Profit on ordinary activities multiplied by the standard rate of corporation
tax in the UK of |
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Effects of: |
Depreciation in excess of capital allowances |
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Movement in deferred taxation | ( |
) | ( |
) |
Total tax charge | 164,590 | 409,246 |
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6. | DIVIDENDS |
2016 | 2015 |
£ | £ |
Ordinary shares of £1 each |
Interim |
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7. | TANGIBLE FIXED ASSETS |
Computer | Plant and |
Totals | equipment | machinery |
£ | £ | £ |
COST |
At 1 April 2015 |
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Additions |
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Disposals | ( |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2016 |
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7. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
and | Motor |
fittings | vehicles | Coaches |
£ | £ | £ |
COST |
At 1 April 2015 |
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Additions |
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Disposals |
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( |
) | ( |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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Eliminated on disposal |
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( |
) | ( |
) |
At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Coaches |
£ |
COST |
At 1 April 2015 |
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Additions |
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Disposals | ( |
) |
Transfer to ownership | (3,693,700 | ) |
At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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Transfer to ownership | (2,215,659 | ) |
At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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8. | STOCKS |
2016 | 2015 |
£ | £ |
Stocks |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2016 |
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9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Amounts due by group companies |
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Other debtors | 7,640 | 6,281 |
VAT |
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Prepayments and accrued income |
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10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts (see note 12) |
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Trade creditors |
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Corporation Tax |
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Social security and other taxes |
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Other creditors |
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Amounts due to group companies | 3,870,689 | 2,351,224 |
Accrued expenses |
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11. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts (see note 12) |
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12. | LEASING AGREEMENTS |
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Minimum lease payments under hire purchase fall due as follows: |
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2016 | 2015 |
£ | £ |
Gross obligations repayable: |
Within one year |
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Between one and five years |
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Finance charges repayable: |
Within one year |
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Between one and five years |
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Net obligations repayable: |
Within one year |
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Between one and five years |
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PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2016 |
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13. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Hire purchase contracts | 8,809,330 | 11,246,784 |
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The company has granted bonds and floating charges in favour of the Bank of Scotland plc. |
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14. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax | 1,408,443 | 1,967,191 |
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Deferred |
tax |
£ |
Balance at 1 April 2015 |
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Provision reduction | (465,072 | ) |
Tax Rate movement | (93,676 | ) |
Balance at 31 March 2016 |
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15. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 500,000 | 500,000 |
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16. | RESERVES |
Retained |
earnings |
£ |
|
At 1 April 2015 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 March 2016 |
|
|
|
17. | PENSION COMMITMENTS |
|
The company operates a defined contribution pension scheme for certain employees, which is managed by the |
company's parent company Park's of Hamilton (Holdings) Ltd. The assets of the scheme are held separately |
from those of the company in independently administered funds. |
|
The pension cost charge represents contributions payable by the company to the funds and amounted to £82,946 |
(2015 - £75,192) |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 MARCH 2016 |
|
18. | ULTIMATE PARENT COMPANY |
|
The ultimate holding company is Park's of Hamilton (Holdings) Limited which is registered in Scotland. |
|
19. | CONTINGENT LIABILITIES |
|
The company together with the parent company, Park's of Hamilton (Townhead Garage) Limited, Douglas Park |
Limited, Park's (Ayr) Limited and Macrae and Dick Limited have entered into cross guarantees in respect of |
each company's indebtedness to the Bank of Scotland plc. |
|
20. | RELATED PARTY DISCLOSURES |
|
There were no material related party transactions. The company has taken advantage of the exemption from |
presenting information relating to transactions within the group. |
|
The company is ultimately controlled by Mr D.I.Park. |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
|
RECONCILIATION OF EQUITY |
1 APRIL 2014 |
(DATE OF TRANSITION TO FRS 102) |
|
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 21,597,148 |
|
21,597,148 |
CURRENT ASSETS |
Stocks | 238,243 |
|
238,243 |
Debtors | 3,176,575 |
|
3,176,575 |
Cash at bank and in hand | 962,613 |
|
962,613 |
4,377,431 |
|
4,377,431 |
CREDITORS |
Amounts falling due within one year | (9,997,416 | ) |
|
(9,997,416 | ) |
NET CURRENT LIABILITIES | (5,619,985 | ) |
|
(5,619,985 | ) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
15,977,163 |
|
15,977,163 |
|
CREDITORS |
Amounts falling due after more than one
year |
(7,446,768 |
) |
|
(7,446,768 |
) |
|
PROVISIONS FOR LIABILITIES | (2,341,442 | ) |
|
(2,341,442 | ) |
NET ASSETS | 6,188,953 |
|
6,188,953 |
CAPITAL AND RESERVES |
Called up share capital | 500,000 |
|
500,000 |
Retained earnings | 5,688,953 |
|
5,688,953 |
SHAREHOLDERS' FUNDS | 6,188,953 |
|
6,188,953 |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
|
RECONCILIATION OF EQUITY - continued |
31 MARCH 2015 |
|
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 20,808,521 |
|
20,808,521 |
CURRENT ASSETS |
Stocks | 205,346 |
|
205,346 |
Debtors | 2,562,761 |
|
2,562,761 |
Cash at bank and in hand | 2,899,908 |
|
2,899,908 |
5,668,015 |
|
5,668,015 |
CREDITORS |
Amounts falling due within one year | (10,151,027 | ) |
|
(10,151,027 | ) |
NET CURRENT LIABILITIES | (4,483,012 | ) |
|
(4,483,012 | ) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
16,325,509 |
|
16,325,509 |
|
CREDITORS |
Amounts falling due after more than one
year |
(7,091,412 |
) |
|
(7,091,412 |
) |
|
PROVISIONS FOR LIABILITIES | (1,967,191 | ) |
|
(1,967,191 | ) |
NET ASSETS | 7,266,906 |
|
7,266,906 |
CAPITAL AND RESERVES |
Called up share capital | 500,000 |
|
500,000 |
Retained earnings | 6,766,906 |
|
6,766,906 |
SHAREHOLDERS' FUNDS | 7,266,906 |
|
7,266,906 |
PARK'S OF HAMILTON (COACH HIRERS) LTD (REGISTERED NUMBER: SC067046) |
|
RECONCILIATION OF PROFIT |
for the Year Ended 31 MARCH 2015 |
|
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
£ | £ | £ |
TURNOVER | 27,393,620 |
|
27,393,620 |
Other operating income | 28,017 |
|
28,017 |
Raw materials and consumables | (10,202,998 | ) | - | (10,202,998 | ) |
Staff costs | (8,587,546 | ) | - | (8,587,546 | ) |
Depreciation | (3,255,166 | ) | - | (3,255,166 | ) |
Other operating charges | (2,098,919 | ) | - | (2,098,919 | ) |
OPERATING PROFIT | 3,277,008 |
|
3,277,008 |
Interest payable and similar charges | (289,809 | ) |
|
(289,809 | ) |
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
2,987,199 |
|
2,987,199 |
Tax on profit on ordinary activities | (409,246 | ) |
|
(409,246 | ) |
PROFIT FOR THE FINANCIAL YEAR | 2,577,953 |
|
2,577,953 |