Company Registration No. 01917978 (England and Wales)
FLEETLINE COACHWORKS LIMITED
Unaudited accounts
for the year ended 30 April 2017
FLEETLINE COACHWORKS LIMITED
Unaudited accounts
Contents
FLEETLINE COACHWORKS LIMITED
Company Information
for the year ended 30 April 2017
Directors
NIGEL BORET
MARK BORET
JEREMY TANN
Company Number
01917978 (England and Wales)
Registered Office
16 PROGRESS WAY
CROYDON
SURREY
CR0 4XD
Accountants
JPT Finance Ltd
5 Commerce Way
Croydon
Surrey
CR0 4XA
FLEETLINE COACHWORKS LIMITED
Statement of financial position
as at 30 April 2017
Tangible assets
119,786
136,037
Inventories
100,837
80,133
Cash at bank and in hand
(160,044)
17,218
Creditors: amounts falling due within one year
(891,874)
(531,832)
Net current assets
448,465
349,485
Total assets less current liabilities
568,251
485,522
Provisions for liabilities
Deferred tax
(16,956)
(16,956)
Net assets
551,295
468,566
Called up share capital
32,598
32,598
Share premium
66,472
66,472
Profit and loss account
452,225
369,496
Shareholders' funds
551,295
468,566
For the year ending 30 April 2017 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 December 2017.
JEREMY TANN
Director
Company Registration No. 01917978
FLEETLINE COACHWORKS LIMITED
Notes to the Accounts
for the year ended 30 April 2017
FLEETLINE COACHWORKS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01917978. The registered office is 16 PROGRESS WAY, CROYDON, SURREY, CR0 4XD.
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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 30 April 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 May 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:
Plant & machinery
25% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
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.
FLEETLINE COACHWORKS LIMITED
Notes to the Accounts
for the year ended 30 April 2017
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.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2016
643,646
14,346
657,992
Additions
16,905
1,600
18,505
At 30 April 2017
660,551
15,946
676,497
At 1 May 2016
515,771
6,184
521,955
Charge for the year
33,097
1,659
34,756
At 30 April 2017
548,868
7,843
556,711
At 30 April 2017
111,683
8,103
119,786
At 30 April 2016
127,875
8,162
136,037
Finished goods
100,837
80,133
Trade debtors
566,163
469,320
Other debtors
833,383
314,646
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Creditors: amounts falling due within one year
2017
2016
Trade creditors
426,937
303,048
Taxes and social security
26,389
62,797
Other creditors
438,548
165,987
FLEETLINE COACHWORKS LIMITED
Notes to the Accounts
for the year ended 30 April 2017
Allotted, called up and fully paid:
32,598 Ordinary shares of £1 each
32,598
32,598
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Capital commitments
2017
2016
Amounts contracted but not provided for in the accounts
114,351
91,389
Committed Courtesy Car Rentals Within:
12 Months £14413
24 Months £53736
36 Months £46202
The Ultimate Controlling Parties are Mr Mark Boret and Mr Robert Regester
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Average number of employees
During the year the average number of employees was 0 (2016: 0).
