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REGISTERED NUMBER: 10300730 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MASTER CABS LIMITED

MASTER CABS LIMITED (REGISTERED NUMBER: 10300730)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MASTER CABS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: A P Roberts





SECRETARY:





REGISTERED OFFICE: 3 Murray Street
Llanelli
Carmarthenshire
SA15 1AQ





REGISTERED NUMBER: 10300730 (England and Wales)





ACCOUNTANTS: Charles & Co
Chartered Certified Accountants
3 Murray Street
Llanelli
Carmarthenshire
SA15 1AQ

MASTER CABS LIMITED (REGISTERED NUMBER: 10300730)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 326 42,577

CURRENT ASSETS
Debtors 5 450 450
Cash in hand 739 1,502
1,189 1,952
CREDITORS
Amounts falling due within one year 6 52,399 67,632
NET CURRENT LIABILITIES (51,210 ) (65,680 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(50,884

)

(23,103

)

CREDITORS
Amounts falling due after more than one
year

7

43,333

43,333
NET LIABILITIES (94,217 ) (66,436 )

RESERVES
Retained earnings (94,217 ) (66,436 )
(94,217 ) (66,436 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 1 March 2024 and were signed by:



A P Roberts - Director


MASTER CABS LIMITED (REGISTERED NUMBER: 10300730)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Master Cabs 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 7 ) .

MASTER CABS LIMITED (REGISTERED NUMBER: 10300730)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 30,000 1,556 45,260 155 76,971
Disposals (30,000 ) - (45,260 ) - (75,260 )
At 30 November 2023 - 1,556 - 155 1,711
DEPRECIATION
At 1 December 2022 - 1,148 33,091 155 34,394
Charge for year - 82 3,042 - 3,124
Charge written back - - (36,133 ) - (36,133 )
At 30 November 2023 - 1,230 - 155 1,385
NET BOOK VALUE
At 30 November 2023 - 326 - - 326
At 30 November 2022 30,000 408 12,169 - 42,577

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 450 450

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,958 13,039
Amounts owed to associates 11,221 29,620
Social security and other taxes 89 16
VAT 24,395 21,703
Directors' loan accounts 504 5
Accrued expenses 2,232 3,249
52,399 67,632

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 43,333 43,333