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Company No: 01685923 (England and Wales)

ALANSWAY TAXIS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

ALANSWAY TAXIS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

ALANSWAY TAXIS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
ALANSWAY TAXIS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTORS Mrs A L Ellison
Mr L S Ellison
Mrs S L Madeley
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 01685923 (England and Wales)
ACCOUNTANT Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
ALANSWAY TAXIS LIMITED

BALANCE SHEET

As at 31 October 2023
ALANSWAY TAXIS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 143,846 178,334
143,846 178,334
Current assets
Stocks 4 1,000 1,000
Debtors 5 35,459 19,682
Cash at bank and in hand 85,703 89,095
122,162 109,777
Creditors: amounts falling due within one year 6 ( 35,591) ( 50,969)
Net current assets 86,571 58,808
Total assets less current liabilities 230,417 237,142
Provision for liabilities ( 20,963) ( 26,725)
Net assets 209,454 210,417
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 209,354 210,317
Total shareholders' funds 209,454 210,417

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 financial statements of Alansway Taxis Limited (registered number: 01685923) were approved and authorised for issue by the Board of Directors on 16 April 2024. They were signed on its behalf by:

Mrs A L Ellison
Director
ALANSWAY TAXIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
ALANSWAY TAXIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alansway Taxis Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when services are provided.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/ reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 3 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 21 21

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 November 2022 17,474 311,908 329,382
Additions 2,015 0 2,015
Disposals 0 ( 37,500) ( 37,500)
At 31 October 2023 19,489 274,408 293,897
Accumulated depreciation
At 01 November 2022 11,769 139,279 151,048
Charge for the financial year 1,169 27,475 28,644
Disposals 0 ( 29,641) ( 29,641)
At 31 October 2023 12,938 137,113 150,051
Net book value
At 31 October 2023 6,551 137,295 143,846
At 31 October 2022 5,705 172,629 178,334

4. Stocks

2023 2022
£ £
Stocks 1,000 1,000

5. Debtors

2023 2022
£ £
Trade debtors 34,389 18,682
Other debtors 1,070 1,000
35,459 19,682

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 8,303
Accruals 7,444 1,750
Corporation tax 12,985 11,531
Other taxation and social security 12,937 11,842
Obligations under finance leases and hire purchase contracts 0 14,748
Other creditors 2,225 2,795
35,591 50,969

Hire purchase borrowings are secured on individual assets taken out on hire purchase.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 A ordinary shares of £ 1.00 each 10 10
5 B ordinary shares of £ 1.00 each 5 5
75 C ordinary shares of £ 1.00 each 75 75
10 D ordinary shares of £ 1.00 each 10 10
100 100

8. Related party transactions

Other related party transactions

2023 2022
£ £
Management fees chargeable to associated companies 21,723 23,623