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Financial Statements |
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for the Year Ended 30 September 2021 |
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for |
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Acklam's Coaches Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 September 2021 |
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for |
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Acklam's Coaches Limited |
Acklam's Coaches Limited (Registered number: 06291076) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Acklam's Coaches Limited |
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Company Information |
for the Year Ended 30 September 2021 |
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DIRECTOR: |
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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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Chartered Accountants |
and Statutory Auditors |
Roland House |
Princes Dock Street |
HULL HU1 2LD |
Acklam's Coaches Limited (Registered number: 06291076) |
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Balance Sheet |
30 September 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Acklam's Coaches Limited (Registered number: 06291076) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2021 |
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1. | STATUTORY INFORMATION |
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Acklam's Coaches Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Particularly in the first half of 2020/21 Covid-19 continued to have an impact on the business due to the continual temporary closures of the tourism industry during the various lockdowns and the social distancing guidelines introduced which impacted the operation of our services and effected the passenger numbers allowed on our coaches. The Group continued to make use of the Government's furlough scheme. Our team responded extremely well faced by the challenges of the pandemic. |
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Since the full relaxation of Covid-19 measures in the middle of 2021 the business has returned to its former pre-pandemic operation levels. |
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The Directors consider that the company has more than adequate working capital and financial facilities to continue in operation for the foreseeable future. On this basis the financial statements have been prepared on the going concern basis. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax and is recognised in full on departure of the coaches. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Acklam's Coaches Limited (Registered number: 06291076) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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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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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Defined contributions 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 group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the group in independently administered funds |
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Goodwill |
Goodwill, being the amount paid in connection with the aquisition of businesses in 2016 and 2020 is being amortised evenly over its estimated useful life of 5 years. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2020 |
and 30 September 2021 |
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AMORTISATION |
At 1 October 2020 |
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Charge for year |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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Acklam's Coaches Limited (Registered number: 06291076) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 October 2020 |
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Additions |
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At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 October 2020 |
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Additions |
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At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Acklam's Coaches Limited (Registered number: 06291076) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Hire purchase contracts (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Hire purchase contracts (see note 9) |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Hire purchase | 124,356 | 152,069 |
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During the prior period the Company received a loan under the Coronavirus Business Interruption Loan Scheme ("CBILS"). This is shown as other creditors. |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under hire purchase fall due as follows: |
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Hire purchase contracts |
2021 | 2020 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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In more than five years |
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Acklam's Coaches Limited (Registered number: 06291076) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Other loans |
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Hire purchase contracts | 3,640,725 | 2,706,033 |
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The CBILS loan borrowings are secured by way of a group guarantee over the Group's property and assets. The directors have provided a joint and several personal guarantee in respect of the obligations of £250,000 and pledged personal assets as a security for the borrowings. |
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The hire purchase creditors are secured against the assets concerned. |
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11. | RESERVES |
Retained |
earnings |
£ |
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At 1 October 2020 |
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Deficit for the year | ( |
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At 30 September 2021 |
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12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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P ACKLAM |
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At 30 September 2021 £6,544 (2020 - £4,311) was due to Mr P Acklam on his director's current account. During the year interest of £NIL (2020 - £2,003) was charged on the balance due to the director. |
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A ACKLAM |
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At 30 September 2021 £25 (2020 - £702 owed to Mr A Acklam) was owed to Acklams Coaches Limited by Mr A Acklam on his director's current account. During the year interest of £NIL (2020 - £290) was charged on the balance due to the director. |
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14. | RELATED PARTY DISCLOSURES |
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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. |
Acklam's Coaches Limited (Registered number: 06291076) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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14. | RELATED PARTY DISCLOSURES - continued |
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Elite Coachworks Limited |
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Elite Coachworks Limited is a company controlled by A Acklam. |
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During the year Elite Coachworks Limited charged Acklams Coaches Limited £NIL (2020 - £23,812) for goods and services. |
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At 30 September 2021 £111,516 (2020 - £127,893) was owed to Acklams Coaches Limited by Elite Coachworks Limited. |
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15. | ULTIMATE PARENT COMPANY |
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The Ultimate Parent Company is Acklams Properties Limited. Its registered office is Barmston Close, Swinemoor Lane, Beverley, East Yorkshire, HU17 0LA. |
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Acklams Properties Limited have produced Consolidated Financial Statements which include the accounts of Acklams Coaches Limited, a copy of which is available at Companies House. |
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16. | CONTROLLING PARTY |
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The Company is controlled by Acklams Properties Limited. |