01 June 2022 31 May 2023 No principle activity is included 02216645 2022-06-01 02216645 2023-05-31 02216645 2022-06-01 2023-05-31 02216645 2022-05-31 02216645 2016-06-01 2022-05-31 02216645 uk-core:WithinOneYear 2023-05-31 02216645 uk-core:WithinOneYear 2022-05-31 02216645 uk-core:AfterOneYear 2023-05-31 02216645 uk-core:AfterOneYear 2022-05-31 02216645 uk-core:ShareCapital 2023-05-31 02216645 uk-core:ShareCapital 2022-05-31 02216645 uk-core:SharePremium 2023-05-31 02216645 uk-core:SharePremium 2022-05-31 02216645 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 02216645 uk-core:RetainedEarningsAccumulatedLosses 2022-05-31 02216645 uk-bus:RegisteredOffice 2022-06-01 2023-05-31 02216645 uk-curr:PoundSterling 2022-06-01 2023-05-31 02216645 uk-core:OfficeEquipment 2022-06-01 2023-05-31 02216645 uk-core:MotorCars 2022-06-01 2023-05-31 02216645 uk-core:Non-currentFinancialInstruments uk-core:CostValuation 2022-05-31 02216645 uk-core:Non-currentFinancialInstruments uk-core:AdditionsToInvestments 2023-05-31 02216645 uk-core:Non-currentFinancialInstruments uk-core:CostValuation 2023-05-31 02216645 uk-core:Non-currentFinancialInstruments uk-core:ProvisionsForImpairmentInvestments 2022-05-31 02216645 uk-core:Non-currentFinancialInstruments uk-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2023-05-31 02216645 uk-core:Non-currentFinancialInstruments uk-core:ProvisionsForImpairmentInvestments 2023-05-31 02216645 uk-core:Non-currentFinancialInstruments 2023-05-31 02216645 uk-core:Non-currentFinancialInstruments 2022-05-31 02216645 uk-core:WithinOneYear 2022-06-01 2023-05-31 02216645 uk-core:BetweenTwoFiveYears 2023-05-31 02216645 uk-core:BetweenTwoFiveYears 2022-05-31 02216645 uk-bus:FRS102 2022-06-01 2023-05-31 02216645 uk-bus:FullAccounts 2022-06-01 2023-05-31 02216645 uk-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 02216645 uk-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  MAINLINE PRIVATE HIRE LTD.
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 MAY 2023
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  MAINLINE PRIVATE HIRE LTD.
  Company registered number: 02216645
  BALANCE SHEET AT 31 May 2023
           
    Note 2023 2022
      £ £ £
  FIXED ASSETS
  Intangible assets   3,105 3,105
  Land, property, plant and equipment 848,733 498,130
  Investments held as fixed assets   671,367 581,367
      1,523,205 1,082,602
  CURRENT ASSETS    
  Debtors   59,581 56,282
  Cash at bank and in hand   86,411 5,849
      145,992 62,131
  CREDITORS: Amounts falling due within one year 4 851,259 638,231
  NET CURRENT LIABILITIES   (705,267) (576,100)
  TOTAL ASSETS LESS CURRENT LIABILITIES   817,938 506,502
           
  CREDITORS: Amounts falling due after more than one year 5 (532,736) (198,841)
           
  PROVISIONS FOR LIABILITIES   20,598 11,660
  NET ASSETS   £305,800 £319,321
       
  CAPITAL AND RESERVES
  Called up share capital   140 140
  Share premium account   39,960 39,960
  Retained earnings   265,700 279,221
  SHAREHOLDERS' FUNDS   £305,800 £319,321
       
  page 1
  MAINLINE PRIVATE HIRE LTD.
  Company registered number: 02216645
  BALANCE SHEET AT 31 May 2023 (CONT.)
           
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records, and for the preparation of accounts.
       
  These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies
       
  All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2023 in accordance with Section 444 (2A) of the Companies Act 2006
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered
  The financial statements were approved and authorised for issue by the board of directors on 20 February 2024
 
  Signed on behalf of the board of directors
 
 
       
       
  G Glover, Director
       
       
  page 2
  MAINLINE PRIVATE HIRE LTD.
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Mainline Private Hire Ltd. is a private company limited by shares incorporated in England.
         
  Registered office:
  Cumberland House, Lissadel Street, Salford, M6 6GG
         
1b. Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
       
1c. Fixed asset investments
       
  Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
       
         
1d. Revenue recognition
         
  Revenue, which excludes value added tax ("VAT"), constitutes the value of services undertaken by the company from its principle activities, which are the provision of ground transportation activities namely operating private mini-cab hire services, and other ancilliary services.
         
  - revenue from account bookings represent amounts billed for the provision of private mini-cab hire services to account customers. The company acts as a principle as it retains exposure to all significant benefits and risks associated with account bookings in accordance with the principal versus agent criteria as defined in FRS5 'Reporting the Substance of Transactions'. This revenue is recognised when the service has been provided.
         
  - with reference to revenue from cash bookings, the company acts as an agent as the driver retains exposure to all significant benefits and risks associated with cash bookings in accordance with the principal versus agent criteria as defined in FRS5.
  page 3
  MAINLINE PRIVATE HIRE LTD.
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1e. Taxation
         
  Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
 
         
 
         
1f. Intangible assets
         
  Goodwill is amortised over 5 years straight line.
         
     
1g. Property, plant and equipment
     
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
     
  Improvements to rented premises Reducing balance 10%
  Fixtures, fittings and equipment Reducing balance 15%
  Motor vehicles Reducing balance 25%
         
1h. Consolidation
         
  The company is a parent company subject to the small companies regime. The company and its subsidiaries comprise a small group. The company is therefore not required to and has chosen not to prepare group accounts.
         
         
1i. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
  page 4
  MAINLINE PRIVATE HIRE LTD.
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1j. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2023 2022
    No. No.
  Management and administration 5 5
  Telephone staff and drivers 39 40
    44 45
   
           
3. FIXED ASSETS
      Land,    
      improvements, Shares in group  
    Intangible fixtures, undertakings Total
    assets plant & and other fixed  
      equipment asset investments  
    £ £ £ £
  Cost or valuation
  At 1 June 2022 183,571 2,424,679 1,031,367 3,639,617
  Additions - 444,121 90,000 534,121
  At 31 May 2023 183,571 2,868,800 1,121,367 4,173,738
   
  Provision for depreciation,
  amortisation and impairment
  At 1 June 2022 180,466 1,926,549 450,000 2,557,015
  For the year - 93,518 - 93,518
  At 31 May 2023 180,466 2,020,067 450,000 2,650,533
   
  Net Book Value
           
  At 31 May 2023 3,105 848,733 671,367 1,523,205
  At 31 May 2022 3,105 498,130 581,367 1,082,602
   
  page 5
  MAINLINE PRIVATE HIRE LTD.
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
       
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts 9,938 9,724
  Finance leases and hire purchase contracts (secured) 107,262 -
  Sundry loans (secured) 97,855 76,141
  Trade creditors 19,159 34,226
  Corporation tax 39,248 62,547
  Other taxes and social security 183,875 112,006
  Other creditors 393,922 257,700
  Amounts owed to undertakings in which the company has
  a participating interest - 85,887
    £851,259 £638,231
   
 
The borrowings are secured on the company's vehicle fleet.
       
       
       
5. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts 21,504 31,587
  Sundry loans (secured) 234,399 167,254
  Finance leases and hire purchase contracts (secured) 276,833 -
    £532,736 £198,841
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 9,938 9,724
  hire purchase or leases 107,262 -
  Sundry loans 97,855 76,141
  within 2-5 years
  bank 21,504 31,587
  hire purchase or leases 276,833 -
  Sundry loans 234,399 167,254
    £747,791 £284,706
   
  page 6