Sullivan Bus & Coach Limited - Limited company - abbreviated

REGISTERED NUMBER: 03574547 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2013

for

Sullivan Bus & Coach Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

6

DIRECTOR:

D Sullivan

SECRETARY:

Miss M Singelee

REGISTERED OFFICE:

6 Deards House

St Albans Road

South Mimms

Potters Bar

Hertfordshire

EN6 3NE

REGISTERED NUMBER:

03574547 (England and Wales)

ACCOUNTANTS:

A&L

Chartered Accountants

Checknet House

153 East Barnet Road

New Barnet

Hertfordshire

EN4 8QZ

FIXED ASSETS

Tangible assets

2

2,526,879

2,539,171

CURRENT ASSETS

Stocks

25,700

Debtors

267,253

194,092

Cash at bank

162,793

208,365

455,746

428,157

CREDITORS

Amounts falling due within one year

3

1,031,469

969,820

NET CURRENT LIABILITIES

(575,723

)

(541,663

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,951,156

1,997,508

CREDITORS

Amounts falling due after more than one year

3

741,243

965,552

NET ASSETS

1,209,913

1,031,956

CAPITAL AND RESERVES

Called up share capital

4

10,000

Profit and loss account

1,199,913

1,021,956

SHAREHOLDERS' FUNDS

1,209,913

1,031,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395
and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 23 April 2014 and were signed by:

D Sullivan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and Straight line over 15 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

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.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

4,697,666

Additions

197,854

At 31 December 2013

4,895,520

DEPRECIATION

At 1 January 2013

2,158,495

Charge for year

210,146

At 31 December 2013

2,368,641

NET BOOK VALUE

At 31 December 2013

2,526,879

At 31 December 2012

2,539,171

3.

CREDITORS

Creditors include an amount of £ 829,060 (2012 - £ 1,067,738 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

10,000

Ordinary

1

10,000

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended

31 December 2013 set out on pages one to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your

statutory responsibilities, from the accounting records and information and explanations supplied to us.

A&L

Chartered Accountants

Checknet House

153 East Barnet Road

New Barnet

Hertfordshire

EN4 8QZ

23 April 2014