2022-04-012023-03-312023-03-31false11242301FARINGDON TAXIS 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FARINGDON TAXIS LIMITED

Registered Number
11242301
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

FARINGDON TAXIS LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

YAQUB, Omar Khokhar

Registered Address

Preservation House
Badger Street
Bury
BL9 6AD

Registered Number

11242301 (England and Wales)
FARINGDON TAXIS LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets52,1812,726
2,1812,726
Current assets
Debtors4,2783,838
Cash at bank and on hand-2
4,2783,840
Creditors amounts falling due within one year8(3,540)(5,730)
Net current assets (liabilities)738(1,890)
Total assets less current liabilities2,919836
Creditors amounts falling due after one year9(5,648)(7,529)
Net assets(2,729)(6,693)
Capital and reserves
Called up share capital11
Profit and loss account(2,730)(6,694)
Shareholders' funds(2,729)(6,693)
The financial statements were approved and authorised for issue by the Director on 4 October 2023, and are signed on its behalf by:
YAQUB, Omar Khokhar
Director
Registered Company No. 11242301
FARINGDON TAXIS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 226,655
At 31 March 236,655
Depreciation and impairment
At 01 April 223,929
Charge for year545
At 31 March 234,474
Net book value
At 31 March 232,181
At 31 March 222,726
6.Debtors within one year

2023

2022

££
Trade debtors / trade receivables955-
Total955-
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Debtors after one year

2023

2022

££
Other debtors3,3233,838
Total3,3233,838
8.Creditors within one year

2023

2022

££
Taxation and social security2,2004,095
Other creditors584614
Accrued liabilities and deferred income7561,021
Total3,5405,730
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts5,6487,529
Total5,6487,529