Registration number:
Radio Taxis (Southampton) Limited
for the Year Ended 30 November 2023
Radio Taxis (Southampton) Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Radio Taxis (Southampton) Limited
Company Information
Directors |
Anthony Lee Ireland Barry Doyle Paul Smith Kevin James Leggett Timothy Odell Jacqueline Anne Tomaszewski |
Company secretary |
Christine Anne Fry |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Radio Taxis (Southampton) Limited
for the Year Ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Radio Taxis (Southampton) Limited for the year ended 30 November 2023 as set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Radio Taxis (Southampton) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Radio Taxis (Southampton) Limited and state those matters that we have agreed to state to the Board of Directors of Radio Taxis (Southampton) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Radio Taxis (Southampton) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Radio Taxis (Southampton) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Radio Taxis (Southampton) Limited. You consider that Radio Taxis (Southampton) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Radio Taxis (Southampton) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Otterbourne
Winchester
Hampshire
SO21 2DZ
Radio Taxis (Southampton) Limited
(Registration number: 01867707)
Balance Sheet as at 30 November 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
8,600 |
8,600 |
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Share premium reserve |
208,500 |
165,600 |
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Capital redemption reserve |
6,349 |
5,749 |
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Revaluation reserve |
101,910 |
101,910 |
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Retained earnings |
331,027 |
409,646 |
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Shareholders' funds |
656,386 |
691,505 |
Radio Taxis (Southampton) Limited
(Registration number: 01867707)
Balance Sheet as at 30 November 2023
For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
Directors' responsibilities:
• |
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• |
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 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
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Radio Taxis (Southampton) Limited
Statement of Changes in Equity for the Year Ended 30 November 2023
Share capital |
Share premium |
Capital redemption reserve |
Revaluation reserve |
Retained earnings |
Total |
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At 1 December 2022 |
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Loss for the year |
- |
- |
- |
- |
( |
( |
New share capital subscribed |
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- |
- |
- |
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Purchase of own share capital |
(600) |
- |
- |
- |
(43,500) |
(44,100) |
Other capital redemption reserve movements |
- |
- |
600 |
- |
- |
600 |
At 30 November 2023 |
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|
|
|
|
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Share capital |
Share premium |
Capital redemption reserve |
Revaluation reserve |
Retained earnings |
Total |
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At 1 December 2021 |
|
|
|
|
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Profit for the year |
- |
- |
- |
- |
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Purchase of own share capital |
(400) |
- |
- |
- |
(28,600) |
(29,000) |
At 30 November 2022 |
8,600 |
165,600 |
5,749 |
101,910 |
409,646 |
691,505 |
Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
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.
The presentation currency of the financial statements is the Pound Sterling (£).
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax, and other sales taxes.
Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tax
The tax expense for the period comprises current 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.
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 |
Fixtures & Fittings |
25% on reducing balance |
Computer Equipment |
25% on cost |
Motor Vehicles |
25% on cost |
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Computer software |
10% on cost |
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 profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Other intangible assets |
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Cost or valuation |
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At 1 December 2022 |
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At 30 November 2023 |
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Amortisation |
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At 1 December 2022 |
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Amortisation charge |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 December 2022 |
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Additions |
- |
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- |
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Disposals |
- |
- |
( |
( |
At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
- |
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Charge for the year |
- |
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Eliminated on disposal |
- |
- |
( |
( |
At 30 November 2023 |
- |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Included within the net book value of land and buildings above is £430,000 (2022 - £430,000) in respect of freehold land and buildings.
Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Revaluation
The fair value of the company's freehold property was revalued on
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 December 2022 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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158 Millbrook Road East
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158 Millbrook Road East
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Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Debtors |
Current |
Note |
2023 |
2022 |
Trade debtors |
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Amounts owed by related parties |
- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £94,647 (2022 - £131,666). The bank loan is secured on the freehold property, and the hire purchase contracts are secured on the assets to which they relate.
Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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2023 |
2022 |
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Due after more than five years |
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After more than five years by instalments |
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- |
- |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £186,170 (2022 - £229,250).
Creditors include bank loans repayable by instalments of £49,715 (2022 - £70,853) due after more than five years.
Radio Taxis (Southampton) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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6,000 |
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6,600 |
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2,600 |
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2,000 |
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Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
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2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
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