MAINLINE PRIVATE HIRE LTD. | |
UNAUDITED FINANCIAL STATEMENTS | |
FOR THE YEAR ENDED 31 MAY 2023 | |
Company registered number: |
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BALANCE SHEET AT |
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Note | 2023 | 2022 | |||
£ | £ | £ | |||
FIXED ASSETS | |||||
Intangible assets | |||||
Land, property, plant and equipment | |||||
Investments held as fixed assets | |||||
CURRENT ASSETS | |||||
Debtors | |||||
Cash at bank and in hand | |||||
CREDITORS: Amounts falling due within one year | 4 | ||||
NET CURRENT LIABILITIES | ( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | |||||
CREDITORS: Amounts falling due after more than one year | 5 | ( |
( |
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PROVISIONS FOR LIABILITIES | |||||
NET ASSETS | £ |
£ |
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CAPITAL AND RESERVES | |||||
Called up share capital | |||||
Share premium account | |||||
Retained earnings | |||||
SHAREHOLDERS' FUNDS | £ |
£ |
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page 1 | |
Company registered number: |
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BALANCE SHEET AT |
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In approving these financial statements as directors of the company we hereby confirm the following: | |||
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 |
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The financial statements were approved and authorised for issue by the board of directors on |
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Signed on behalf of the board of directors | |||
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 |
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Registered office: | ||||
1b. | Basis of accounting | |||
1c. | Fixed asset investments | ||
1d. | Revenue recognition | |||
- 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 | |||
1f. | Intangible assets | |||
Goodwill is amortised over 5 years straight line. | ||||
1g. | Property, plant and equipment | |
Improvements to rented premises | Reducing balance 10% | |
Fixtures, fittings and equipment | ||
Motor vehicles |
1h. | Consolidation | |||
1i. | Leased assets | |||
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 | |||
2. | DIRECTORS AND EMPLOYEES | ||
The average weekly number of employees during the year were as follows: | |||
2023 | 2022 | ||
No. | No. | ||
Management and administration | |||
Telephone staff and drivers | |||
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 | 3,639,617 | ||||
Additions | 534,121 | ||||
At 31 May 2023 | 4,173,738 | ||||
Provision for depreciation, | |||||
amortisation and impairment | |||||
At 1 June 2022 | 2,557,015 | ||||
For the year | 93,518 | ||||
At 31 May 2023 | 2,650,533 | ||||
Net Book Value | |||||
At 31 May 2023 | |||||
At 31 May 2022 | |||||
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) | |||
Sundry loans (secured) | |||
Trade creditors | |||
Corporation tax | |||
Other taxes and social security | |||
Other creditors | |||
Amounts owed to undertakings in which the company has | |||
a participating interest | |||
£ |
£ |
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The borrowings are secured on the company's vehicle fleet. |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR | ||
2023 | 2022 | ||
£ | £ | ||
Bank loans and overdrafts | |||
Sundry loans (secured) | |||
Finance leases and hire purchase contracts (secured) | |||
£ |
£ |
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Analysis of borrowings: | |||
Due within five years: | |||
within 1 year | |||
bank | |||
hire purchase or leases | |||
Sundry loans | |||
within 2-5 years | |||
bank | |||
hire purchase or leases | |||
Sundry loans | |||
£747,791 | £284,706 | ||
page 6 |