17
28/02/2023
2023-02-28
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2022-03-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
07952765
2022-03-01
2023-02-28
07952765
2023-02-28
07952765
2022-02-28
07952765
2021-03-01
2022-02-28
07952765
2022-02-28
07952765
core:PlantMachinery
2022-03-01
2023-02-28
07952765
core:MotorVehicles
2022-03-01
2023-02-28
07952765
bus:RegisteredOffice
2022-03-01
2023-02-28
07952765
bus:LeadAgentIfApplicable
2022-03-01
2023-02-28
07952765
bus:Director1
2022-03-01
2023-02-28
07952765
bus:Director3
2022-03-01
2023-02-28
07952765
bus:Director4
2022-03-01
2023-02-28
07952765
bus:CompanySecretary1
2022-03-01
2023-02-28
07952765
core:WithinOneYear
2023-02-28
07952765
core:WithinOneYear
2022-02-28
07952765
core:AfterOneYear
2023-02-28
07952765
core:AfterOneYear
2022-02-28
07952765
core:ShareCapital
2023-02-28
07952765
core:ShareCapital
2022-02-28
07952765
core:RetainedEarningsAccumulatedLosses
2023-02-28
07952765
core:RetainedEarningsAccumulatedLosses
2022-02-28
07952765
core:BetweenOneFiveYears
2022-02-28
07952765
bus:Director1
2022-02-28
07952765
bus:Director1
2023-02-28
07952765
bus:Director1
2021-02-28
07952765
bus:Director1
2022-02-28
07952765
bus:Director1
2021-03-01
2022-02-28
07952765
bus:SmallEntities
2022-03-01
2023-02-28
07952765
bus:AuditExemptWithAccountantsReport
2022-03-01
2023-02-28
07952765
bus:AbridgedAccounts
2022-03-01
2023-02-28
07952765
bus:SmallCompaniesRegimeForAccounts
2022-03-01
2023-02-28
07952765
bus:PrivateLimitedCompanyLtd
2022-03-01
2023-02-28
07952765
1
2022-03-01
2023-02-28
Company registration number:
07952765
Lewis Taxis Cyf
Unaudited filleted abridged financial statements
28 February 2023
Lewis Taxis Cyf
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Lewis Taxis Cyf
Directors and other information
|
|
|
|
Directors |
Mr Gwyn Richard Lewis |
|
|
Mr John Richard Stacey-Lewis |
|
|
Mrs Marie Morfydd Benjamin |
|
|
|
|
|
|
|
Secretary |
Mrs Susan Arch Diamond |
|
|
|
|
|
|
|
Company number |
07952765 |
|
|
|
|
|
|
|
Registered office |
2 Bryneithin |
|
|
Llanrhystud |
|
|
Ceredigion |
|
|
SY23 5DN |
|
|
|
|
|
|
|
Business address |
2 Bryneithin |
|
|
Llanrhystud |
|
|
Ceredigion |
|
|
SY23 5DN |
|
|
|
|
|
|
|
Accountants |
Davies Lewis Baker |
|
|
31 Bridge Street |
|
|
Aberystwyth |
|
|
SY23 1QB |
|
|
|
Lewis Taxis Cyf
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Lewis Taxis Cyf
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lewis Taxis Cyf for the year ended 28 February 2023 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com /gb/en/about-us/regulation/rulebook.html.
This report is made solely to the board of directors of Lewis Taxis Cyf, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lewis Taxis Cyf and state those matters that we have agreed to state to the board of directors of Lewis Taxis Cyf as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lewis Taxis Cyf and its board of directors as a body for our work or for this report.
It is your duty to ensure that Lewis Taxis Cyf has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lewis Taxis Cyf. You consider that Lewis Taxis Cyf is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lewis Taxis Cyf. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Davies Lewis Baker
31 Bridge Street
Aberystwyth
SY23 1QB
22 November 2023
Lewis Taxis Cyf
Abridged statement of financial position
28 February 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
84,654 |
|
|
|
71,995 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
84,654 |
|
|
|
71,995 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
- |
|
|
|
4,000 |
|
|
Debtors |
|
|
102,940 |
|
|
|
51,380 |
|
|
Cash at bank and in hand |
|
|
67,464 |
|
|
|
48,552 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
170,404 |
|
|
|
103,932 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
|
(
100,568) |
|
|
|
(
92,718) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
69,836 |
|
|
|
11,214 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
154,490 |
|
|
|
83,209 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
|
|
|
(
23,333) |
|
|
|
(
36,446) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
14,383) |
|
|
|
(
11,025) |
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income |
|
|
|
|
(
4,885) |
|
|
|
(
3,500) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
111,889 |
|
|
|
32,238 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
2 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
111,887 |
|
|
|
32,236 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
111,889 |
|
|
|
32,238 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
22 November 2023
, and are signed on behalf of the board by:
Mr Gwyn Richard Lewis
Director
Company registration number:
07952765
Lewis Taxis Cyf
Notes to the financial statements
Year ended 28 February 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 2 Bryneithin, Llanrhystud, Ceredigion, SY23 5DN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
15 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
17
(2022:
18
).
5.
Tangible assets
|
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 March 2022 |
225,193 |
|
|
|
|
|
|
|
Additions |
40,500 |
|
|
|
|
|
|
|
Disposals |
(
18,539) |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 28 February 2023 |
247,154 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 March 2022 |
153,198 |
|
|
|
|
|
|
|
Charge for the year |
17,604 |
|
|
|
|
|
|
|
Disposals |
(
8,302) |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 28 February 2023 |
162,500 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 28 February 2023 |
84,654 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 28 February 2022 |
71,995 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Obligations under finance leases
Company lessee
The total future minimum lease payments under finance lease agreements are as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Not later than 1 year |
|
3,112 |
3,795 |
|
Later than 1 year and not later than 5 years |
|
- |
3,112 |
|
|
|
_______ |
_______ |
|
|
|
3,112 |
6,907 |
|
|
|
_______ |
_______ |
|
Present value of minimum lease payments |
|
3,112 |
6,907 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Gwyn Richard Lewis |
40,328 |
(
3,038) |
37,290 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Gwyn Richard Lewis |
24,475 |
15,853 |
40,328 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
8.
Controlling party
The company is controlled by its only shareholder,
Mr JR Stacey-Lewis
.