Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseprivate taxi hire34truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08384407 2022-03-01 2023-02-28 08384407 2021-03-01 2022-02-28 08384407 2023-02-28 08384407 2022-02-28 08384407 c:Director1 2022-03-01 2023-02-28 08384407 d:OfficeEquipment 2022-03-01 2023-02-28 08384407 d:OfficeEquipment 2023-02-28 08384407 d:OfficeEquipment 2022-02-28 08384407 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 08384407 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 08384407 d:CurrentFinancialInstruments 2023-02-28 08384407 d:CurrentFinancialInstruments 2022-02-28 08384407 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08384407 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 08384407 d:ShareCapital 2023-02-28 08384407 d:ShareCapital 2022-02-28 08384407 d:RetainedEarningsAccumulatedLosses 2023-02-28 08384407 d:RetainedEarningsAccumulatedLosses 2022-02-28 08384407 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 08384407 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 08384407 c:FRS102 2022-03-01 2023-02-28 08384407 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 08384407 c:FullAccounts 2022-03-01 2023-02-28 08384407 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08384407 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 08384407






PRO AUTO CARRIAGE SERVICE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










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PRO AUTO CARRIAGE SERVICE LIMITED
REGISTERED NUMBER:08384407

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,451
439

  
1,451
439

Current assets
  

Debtors: amounts falling due within one year
 5 
156,263
169,774

Cash at bank and in hand
 6 
57,809
36,377

  
214,072
206,151

Creditors: amounts falling due within one year
 7 
(179,159)
(201,002)

Net current assets
  
 
 
34,913
 
 
5,149

Total assets less current liabilities
  
36,364
5,588

Provisions for liabilities
  

Deferred tax
 8 
(63)
(84)

  
 
 
(63)
 
 
(84)

Net assets
  
36,301
5,504


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
36,300
5,503

  
36,301
5,504


Page 1

 
PRO AUTO CARRIAGE SERVICE LIMITED
REGISTERED NUMBER:08384407
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 November 2023.




................................................
L Champion
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PRO AUTO CARRIAGE SERVICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Pro Auto Carriage Service Limited is a private limited company, incorporated in England and Wales. Its
registered office is C/O Venthams Limited Unit 8, Phoenix House, Redhill Aerodrome, Kings Mill Lane, Redhill, RH1 5JY.
The principal activity was that of private taxi hire.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PRO AUTO CARRIAGE SERVICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
PRO AUTO CARRIAGE SERVICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Page 5

 
PRO AUTO CARRIAGE SERVICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 -4).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 March 2022
3,000


Additions
1,451


Disposals
(1,000)



At 28 February 2023

3,451



Depreciation


At 1 March 2022
2,561


Charge for the year on owned assets
322


Charge for the year on financed assets
(883)



At 28 February 2023

2,000



Net book value



At 28 February 2023
1,451



At 28 February 2022
439

Page 6

 
PRO AUTO CARRIAGE SERVICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
3,750
59,749

Other debtors
148,583
109,124

Prepayments and accrued income
3,930
901

156,263
169,774



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
57,809
36,377

57,809
36,377



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
20,945
22,716

Other taxation and social security
25,591
42,267

Other creditors
123,235
123,701

Accruals and deferred income
9,388
12,318

179,159
201,002



8.


Deferred taxation




2023


£






At beginning of year
(84)


Charged to profit or loss
21



At end of year
(63)

Page 7

 
PRO AUTO CARRIAGE SERVICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(63)
(84)

(63)
(84)


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £525 (2022:£625).
Contributions totalling £Nil (2022:£94) are payable to the fund at the balance sheet date.

 
Page 8