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REGISTERED NUMBER: 07394826 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

FYLDE COAST REPLACEMENT TAXIS LTD

FYLDE COAST REPLACEMENT TAXIS LTD (REGISTERED NUMBER: 07394826)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FYLDE COAST REPLACEMENT TAXIS LTD

COMPANY INFORMATION
for the year ended 31 March 2022







DIRECTORS: Mr D J Wright
Mr G Hession





REGISTERED OFFICE: c/o Star Bodies (North West) Limited
Copse View Business Park
Copse Road
Fleetwood
Lancashire
FY7 7HB





REGISTERED NUMBER: 07394826 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
Chartered Accountants
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

FYLDE COAST REPLACEMENT TAXIS LTD (REGISTERED NUMBER: 07394826)

BALANCE SHEET
31 March 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 423,343 205,799

CURRENT ASSETS
Debtors 5 559,464 359,121
Cash at bank 278,556 545,548
838,020 904,669
CREDITORS
Amounts falling due within one year 6 (221,863 ) (184,603 )
NET CURRENT ASSETS 616,157 720,066
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,039,500

925,865

CREDITORS
Amounts falling due after more than one year 7 (416,681 ) (382,484 )

PROVISIONS FOR LIABILITIES (80,435 ) (39,102 )
NET ASSETS 542,384 504,279

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 542,284 504,179
SHAREHOLDERS' FUNDS 542,384 504,279

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

FYLDE COAST REPLACEMENT TAXIS LTD (REGISTERED NUMBER: 07394826)

BALANCE SHEET - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:





Mr D J Wright - Director


FYLDE COAST REPLACEMENT TAXIS LTD (REGISTERED NUMBER: 07394826)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2022

1. STATUTORY INFORMATION

Fylde Coast Replacement Taxis Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
During the reporting period, management decided to review the estimated useful lives of its assets, paying particular attention to motor vehicles. This has resulted in a reduction of motor vehicle depreciation of £39,020 when compared to the previous estimate.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Government grants
During the year the company received government support in the form of the Coronavirus Job Retention Scheme. This has been recognised under the accruals model and included within the Income statement.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

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

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.

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.

FYLDE COAST REPLACEMENT TAXIS LTD (REGISTERED NUMBER: 07394826)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2022

2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors have considered the risks of Covid-19 and the potential impact on the financial position of the company. The directors are satisfied at the time of approving the financial statements that the company has adequate resources to continue to operate for the foreseeable future and as such, continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2021 50,238 791,415 3,689 845,342
Additions 11,842 390,203 - 402,045
Disposals - (148,945 ) - (148,945 )
At 31 March 2022 62,080 1,032,673 3,689 1,098,442
DEPRECIATION
At 1 April 2021 25,265 611,148 3,130 639,543
Charge for year 5,522 142,508 275 148,305
Eliminated on disposal - (112,749 ) - (112,749 )
At 31 March 2022 30,787 640,907 3,405 675,099
NET BOOK VALUE
At 31 March 2022 31,293 391,766 284 423,343
At 31 March 2021 24,973 180,267 559 205,799

FYLDE COAST REPLACEMENT TAXIS LTD (REGISTERED NUMBER: 07394826)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2022

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2021 279,528
Additions 236,239
Disposals (68,062 )
At 31 March 2022 447,705
DEPRECIATION
At 1 April 2021 161,703
Charge for year 84,895
Eliminated on disposal (49,566 )
At 31 March 2022 197,032
NET BOOK VALUE
At 31 March 2022 250,673
At 31 March 2021 117,825

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 527,121 359,121
Tax 32,343 -
559,464 359,121

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 55,868 10,610
Hire purchase contracts (see note 8) 103,596 69,478
Trade creditors 2,350 2,150
Tax 36,809 73,025
Social security and other taxes 2,635 2,603
VAT 16,720 23,037
Accruals and deferred income 3,885 3,700
221,863 184,603

FYLDE COAST REPLACEMENT TAXIS LTD (REGISTERED NUMBER: 07394826)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 214,657 265,390
Hire purchase contracts (see note 8) 202,024 117,094
416,681 382,484

Bank loans outstanding at the year end amounted to £270,524 (2021- £276,000) and include instalments due after more than five years of £21,333 (2021 - £44,087).

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2022 2021
£    £   
Net obligations repayable:
Within one year 103,596 69,478
Between one and five years 202,024 117,094
305,620 186,572

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 305,620 186,572

The hire purchase is secured over the assets to which it relates.