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Registration number: 06735886

NTD Chauffeur Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

NTD Chauffeur Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

NTD Chauffeur Services Limited

Company Information

Directors

Miss Claire Patricia Reynolds

Mr Nicholas John Ian Hopkins

Registered office

31 Moorhouse Way
Leighton Buzzard
Bedfordshire
LU7 4NT

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

NTD Chauffeur Services Limited

(Registration number: 06735886)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

191,983

137,833

Current assets

 

Debtors

5

31,291

33,900

Cash at bank and in hand

 

12,218

10,951

 

43,509

44,851

Creditors: Amounts falling due within one year

6

(88,295)

(79,239)

Net current liabilities

 

(44,786)

(34,388)

Total assets less current liabilities

 

147,197

103,445

Creditors: Amounts falling due after more than one year

6

(118,907)

(103,338)

Net assets

 

28,290

107

Capital and reserves

 

Called up share capital

2

2

Retained earnings

28,288

105

Shareholders' funds

 

28,290

107

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2024 and signed on its behalf by:
 

 

NTD Chauffeur Services Limited

(Registration number: 06735886)
Balance Sheet as at 31 October 2023

.........................................
Miss Claire Patricia Reynolds
Director

.........................................
Mr Nicholas John Ian Hopkins
Director

 

NTD Chauffeur Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
31 Moorhouse Way
Leighton Buzzard
Bedfordshire
LU7 4NT
England

These financial statements were authorised for issue by the Board on 24 January 2024.

The company registration number is 06735886

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

NTD Chauffeur Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

10% reducing balance

Office equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

NTD Chauffeur Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight line basis.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

NTD Chauffeur Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

19,588

319,887

339,475

Additions

-

72,495

72,495

At 31 October 2023

19,588

392,382

411,970

Depreciation

At 1 November 2022

9,164

192,478

201,642

Charge for the year

4,897

13,448

18,345

At 31 October 2023

14,061

205,926

219,987

Carrying amount

At 31 October 2023

5,527

186,456

191,983

At 31 October 2022

10,424

127,409

137,833

5

Debtors

Current

2023
£

2022
£

Trade debtors

21,212

23,004

Prepayments

5,044

5,896

Other debtors

5,035

5,000

 

31,291

33,900

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

45,036

42,471

Trade creditors

 

2,497

2,323

Taxation and social security

 

464

16,026

Accruals and deferred income

 

1,080

1,080

Other creditors

 

39,218

17,339

 

88,295

79,239

 

NTD Chauffeur Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

118,907

103,338

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.50 each

2

1.00

2

1.00

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

63,093

88,048

Hire purchase contracts

55,814

15,290

118,907

103,338

2023
£

2022
£

Current loans and borrowings

Bank borrowings

26,863

30,562

Hire purchase contracts

18,173

11,909

45,036

42,471