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Registered Number: 08309475
England and Wales

 

 

 

ACE CABS STAMFORD LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Director Allah Ditta
Registered Number 08309475
Registered Office Carlton House, Unit 2
Ryhall Road
Stamford
PE9 1XP
Accountants aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
1
Director's report and financial statements
The director presents his/her/their report and accounts for the year ended 30 November 2023.
Principal activities
Principal activity of the company during the financial year was the provision of taxi and private hire service.
Director
The director who served the company throughout the year was as follows:
Allah Ditta

On behalf of the board.


----------------------------------
Allah Ditta
Director

Date approved: 11 March 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Ace Cabs Stamford Ltd 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 accounts of Ace Cabs Stamford Ltd for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Ace Cabs Stamford Ltd, as a body, in accordance with the terms of our engagement letter dated 11 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of Ace Cabs Stamford Ltd and state those matters that we have agreed to state to the Board of Directors of Ace Cabs Stamford Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ace Cabs Stamford Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ace Cabs Stamford Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ace Cabs Stamford Ltd. You consider that Ace Cabs Stamford Ltd 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 Ace Cabs Stamford Ltd. 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
30 November 2023



....................................................
aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
11 March 2024
3
  2023   2022
    £ £   £ £
Fixed assets   92,923      79,389 
Current assets 24,861      39,872   
Prepayments and accrued income 42,524      32,963   
Creditors: amount falling due within one year (67,904)     (57,540)  
Net current liabilities   (519)     15,295 
Total assets less current liabilities   92,404      94,684 
Creditors: amount falling due after more than one year   (47,293)     (50,334)
Accruals and deferred income       (666)
Net assets   45,111      43,684 
 

         
Capital and reserves   45,111      43,684 
 
NOTES TO THE ACCOUNTS

General Information
Ace Cabs Stamford Ltd is a private company, limited by shares, registered in England and Wales, registration number 08309475, registration address Carlton House, Unit 2, Ryhall Road, Stamford, PE9 1XP.
1.

Accounting policies

Significant accounting policies
Statement of compliance
 These financial statements have been prepared in compliance with FRS 105 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 on the going concern basis and 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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
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:
Computer Equipment 33% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 December 2022 2,270    117,647    3,769    6,539    130,225 
Additions   43,154    117    1,547    44,818 
Disposals        
At 30 November 2023 2,270    160,801    3,886    8,086    175,043 
Depreciation
At 01 December 2022 1,878    42,867    2,138    3,953    50,836 
Charge for year 87    29,483    350    1,364    31,284 
On disposals        
At 30 November 2023 1,965    72,350    2,488    5,317    82,120 
Net book values
Closing balance as at 30 November 2023 305    88,451    1,398    2,769    92,923 
Opening balance as at 01 December 2022 392    74,780    1,631    2,586    79,389 


3.

Average number of employees

Average number of employees during the year was 7 (2022 : 4).

4.

Director loan

As at the balance sheet date the company owed the directors £195 (2022: £301). This loan is interest free and repayable on demand.
5.

Bank Loans

Included within bank loans and overdrafts due over one year is £23,975 (2022: £27,940) which is due after more than 1 year.


6.

Hire Purchases loan

Included within other creditors due over one year is £23,314 (2022: £22,394) which is due after more than 1 year.

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

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

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 accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 11 March 2024 and were signed by:


--------------------------------
Allah Ditta
Director
4