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REGISTERED NUMBER: 00812293 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Sleaford Taxi Company Limited

Sleaford Taxi Company Limited (Registered number: 00812293)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sleaford Taxi Company Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mrs J P Broughton
M J Broughton
Mrs L J Broughton
Mrs H Mountcastle
T Broughton
D P Mountcastle





REGISTERED OFFICE: Pride Parkway
East Road
Sleaford
Lincolnshire
NG34 8GL





REGISTERED NUMBER: 00812293 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Sleaford Taxi Company Limited (Registered number: 00812293)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,037,031 1,480,231

CURRENT ASSETS
Stocks 8,170 29,402
Debtors 5 341,427 246,519
Cash at bank and in hand 203,354 232,789
552,951 508,710
CREDITORS
Amounts falling due within one year 6 637,666 580,031
NET CURRENT LIABILITIES (84,715 ) (71,321 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,952,316

1,408,910

CREDITORS
Amounts falling due after more than one
year

7

(1,098,410

)

(748,444

)

PROVISIONS FOR LIABILITIES (252,944 ) (190,352 )
NET ASSETS 600,962 470,114

CAPITAL AND RESERVES
Called up share capital 9 1,500 1,500
Retained earnings 599,462 468,614
SHAREHOLDERS' FUNDS 600,962 470,114

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sleaford Taxi Company Limited (Registered number: 00812293)

Balance Sheet - continued
31 July 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:




M J Broughton - Director



Mrs L J Broughton - Director


Sleaford Taxi Company Limited (Registered number: 00812293)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Sleaford Taxi Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - not provided
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase
Amounts payable in respect of hire of equipment or operating leases are charged to the profit and loss account.

Sleaford Taxi Company Limited (Registered number: 00812293)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Going concern
At 31 July 2023 the Company's current liabilities exceeded its current assets by £84,715 (2022: £71,321).

There are no material uncertainties that may cast significant doubt about the company's abilities to continue as a going concern.

On the basis described above, the director considers it appropriate to prepare these financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 36 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 August 2022 436,350 135,258 178,178
Additions - - 8,020
Disposals - - -
At 31 July 2023 436,350 135,258 186,198
DEPRECIATION
At 1 August 2022 - 66,590 94,121
Charge for year - 10,300 20,813
Eliminated on disposal - - -
At 31 July 2023 - 76,890 114,934
NET BOOK VALUE
At 31 July 2023 436,350 58,368 71,264
At 31 July 2022 436,350 68,668 84,057

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 38,118 1,941,649 53,775 2,783,328
Additions 1,189 950,063 9,184 968,456
Disposals - (257,463 ) - (257,463 )
At 31 July 2023 39,307 2,634,249 62,959 3,494,321
DEPRECIATION
At 1 August 2022 25,962 1,065,822 50,602 1,303,097
Charge for year 1,891 228,183 2,254 263,441
Eliminated on disposal - (109,248 ) - (109,248 )
At 31 July 2023 27,853 1,184,757 52,856 1,457,290
NET BOOK VALUE
At 31 July 2023 11,454 1,449,492 10,103 2,037,031
At 31 July 2022 12,156 875,827 3,173 1,480,231

Sleaford Taxi Company Limited (Registered number: 00812293)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022 990,823
Additions 893,608
Disposals (209,823 )
Transfer to ownership (67,000 )
At 31 July 2023 1,607,608
DEPRECIATION
At 1 August 2022 361,452
Charge for year 167,327
Eliminated on disposal (68,409 )
Transfer to ownership (43,673 )
At 31 July 2023 416,697
NET BOOK VALUE
At 31 July 2023 1,190,911
At 31 July 2022 629,371

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 116,203 64,926
Other debtors 225,224 181,593
341,427 246,519

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,700 29,700
Hire purchase contracts 272,593 140,445
Trade creditors 103,346 149,175
Taxation and social security 27,613 29,077
Other creditors 204,414 231,634
637,666 580,031

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 184,262 212,975
Hire purchase contracts 914,148 535,469
1,098,410 748,444

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 102,130 110,842

Sleaford Taxi Company Limited (Registered number: 00812293)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 213,962 242,675
Hire purchase contracts 1,186,741 675,914
1,400,703 918,589

The bank overdraft and loan is secured by a first fixed charge over all book and other debts and first floating charge over all assets, including freehold land and buildings at Sleaford Enterprise Park, East Road, Sleaford.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,500 Ordinary £1 1,500 1,500

10. ULTIMATE CONTROLLING PARTY

M Broughton is the controlling party as he owns more than 50% of the issued share capital.