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Registered Number: 11450912


 

 

 

MUKTAR TAXI SERVICE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3   8,575 
  8,575 
Current assets      
Debtors 4 844    5,497 
Cash at bank and in hand 8,801    1,282 
9,645    6,779 
Creditors: amount falling due within one year 5 (7,542)   (4,557)
Net current assets 2,103    2,222 
 
Total assets less current liabilities 2,103    10,797 
Provisions for liabilities 6 (37)   (29)
Net assets 2,066    10,768 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 1,966    10,668 
Shareholder's funds 2,066    10,768 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 08 March 2024 and were signed by:


-------------------------------
MUKTAR ALI
Director
1
General Information
MUKTAR TAXI SERVICE LTD is a private company, limited by shares, registered in , registration number 11450912, registration address UNIT 2-3, 88 MILE END ROAD LONDON, E1 4UN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 18% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 July 2022 18,848    18,848 
Additions  
Disposals (18,848)   (18,848)
At 30 June 2023  
Depreciation
At 01 July 2022 10,273    10,273 
Charge for year  
On disposals (10,273)   (10,273)
At 30 June 2023  
Net book values
Closing balance as at 30 June 2023  
Opening balance as at 01 July 2022 8,575    8,575 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
PAYE & Social Security 844    377 
Directors' Current Accounts   5,120 
844    5,497 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Car Loan   635 
Corporation Tax 5,693    2,554 
Accrued Expenses   1,368 
Other Creditors 1,468   
Directors' Current Accounts 381   
7,542    4,557 

6.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 37    29 
37    29 

2