Silverfin false 28/02/2023 01/03/2022 28/02/2023 C C Perryman 23/09/2020 D P Perryman 23/09/2020 J E Perryman 07/08/2020 P Perryman 07/08/2020 28 November 2023 The principal activity of the company is taxi operation. 09434153 2023-02-28 09434153 bus:Director1 2023-02-28 09434153 bus:Director2 2023-02-28 09434153 bus:Director3 2023-02-28 09434153 bus:Director4 2023-02-28 09434153 2022-02-28 09434153 core:CurrentFinancialInstruments 2023-02-28 09434153 core:CurrentFinancialInstruments 2022-02-28 09434153 core:Non-currentFinancialInstruments 2023-02-28 09434153 core:Non-currentFinancialInstruments 2022-02-28 09434153 core:ShareCapital 2023-02-28 09434153 core:ShareCapital 2022-02-28 09434153 core:RetainedEarningsAccumulatedLosses 2023-02-28 09434153 core:RetainedEarningsAccumulatedLosses 2022-02-28 09434153 core:Goodwill 2022-02-28 09434153 core:Goodwill 2023-02-28 09434153 core:Vehicles 2022-02-28 09434153 core:FurnitureFittings 2022-02-28 09434153 core:Vehicles 2023-02-28 09434153 core:FurnitureFittings 2023-02-28 09434153 bus:OrdinaryShareClass1 2023-02-28 09434153 2022-03-01 2023-02-28 09434153 bus:FullAccounts 2022-03-01 2023-02-28 09434153 bus:SmallEntities 2022-03-01 2023-02-28 09434153 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 09434153 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09434153 bus:Director1 2022-03-01 2023-02-28 09434153 bus:Director2 2022-03-01 2023-02-28 09434153 bus:Director3 2022-03-01 2023-02-28 09434153 bus:Director4 2022-03-01 2023-02-28 09434153 core:Goodwill core:TopRangeValue 2022-03-01 2023-02-28 09434153 core:Vehicles core:TopRangeValue 2022-03-01 2023-02-28 09434153 core:FurnitureFittings 2022-03-01 2023-02-28 09434153 2021-03-01 2022-02-28 09434153 core:Vehicles 2022-03-01 2023-02-28 09434153 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 09434153 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09434153 (England and Wales)

NEWQUAY AIRPORT TAXIS LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

NEWQUAY AIRPORT TAXIS LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

NEWQUAY AIRPORT TAXIS LIMITED

COMPANY INFORMATION

For the financial year ended 28 February 2023
NEWQUAY AIRPORT TAXIS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2023
DIRECTORS C C Perryman
D P Perryman
J E Perryman
P Perryman
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
England
United Kingdom
COMPANY NUMBER 09434153 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
NEWQUAY AIRPORT TAXIS LIMITED

BALANCE SHEET

As at 28 February 2023
NEWQUAY AIRPORT TAXIS LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 26,700 37,872
26,700 37,872
Current assets
Debtors 5 186,100 186,336
Cash at bank and in hand 423 1,923
186,523 188,259
Creditors: amounts falling due within one year 6 ( 41,828) ( 48,025)
Net current assets 144,695 140,234
Total assets less current liabilities 171,395 178,106
Creditors: amounts falling due after more than one year 7 ( 92,848) ( 122,284)
Provision for liabilities 6,458 4,942
Net assets 85,005 60,764
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 85,003 60,762
Total shareholder's funds 85,005 60,764

For the financial 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 financial statements of Newquay Airport Taxis Limited (registered number: 09434153) were approved and authorised for issue by the Board of Directors on 28 November 2023. They were signed on its behalf by:

J E Perryman
Director
NEWQUAY AIRPORT TAXIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
NEWQUAY AIRPORT TAXIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Newquay Airport Taxis Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from taxi services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 4 years straight line
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 March 2022 1,350 1,350
At 28 February 2023 1,350 1,350
Accumulated amortisation
At 01 March 2022 1,350 1,350
At 28 February 2023 1,350 1,350
Net book value
At 28 February 2023 0 0
At 28 February 2022 0 0

4. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 March 2022 144,953 13,100 158,053
Disposals ( 13,500) 0 ( 13,500)
At 28 February 2023 131,453 13,100 144,553
Accumulated depreciation
At 01 March 2022 114,148 6,033 120,181
Charge for the financial year 9,405 1,767 11,172
Disposals ( 13,500) 0 ( 13,500)
At 28 February 2023 110,053 7,800 117,853
Net book value
At 28 February 2023 21,400 5,300 26,700
At 28 February 2022 30,805 7,067 37,872

5. Debtors

2023 2022
£ £
Trade debtors 6,744 15,103
Prepayments 1,968 1,598
Other debtors 177,388 169,635
186,100 186,336

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 29,043 25,650
Trade creditors 1,497 3,758
Accruals 3,270 2,850
Corporation tax 6,752 4,261
Other taxation and social security 1,052 11,127
Obligations under finance leases and hire purchase contracts 0 379
Other creditors 214 0
41,828 48,025

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 92,848 122,284

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
A2B (Taxis) Truro Limited 29,133 44,753

The other debtor of £29,133 (2022: £44,753) is in relation to A2B Taxis (Truro) Limited. This company owns 100% of the shareholding in Newquay Airport Taxis Ltd and is managed by the same directors.