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Registered Number: 04981859


 

 

 

PEOPLE EXPRESS TAXIS RUGBY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Cathryn Mason
Phillip Mason
Registered Number 04981859
Registered Office Unit2, 25 Somers Road
Rugby
Warwickshire
CV22 7DG
Accountants Beagle Accounting Limited
23a High Street
Welford
Northants
NN6 6HT
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023.
Principal activities
Principal activity of the company during the financial year was of the provision of taxi services.
Directors
The directors who served the company throughout the year were as follows:
Cathryn Mason
Phillip Mason
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Phillip Mason
Director

Date approved: 19 July 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise 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 accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Beagle Accounting Limited
30 November 2023



....................................................
Beagle Accounting Limited
23a High Street
Welford
Northants
NN6 6HT
19 July 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3   21,340 
Tangible fixed assets 4 161,994    143,692 
161,994    165,032 
Current assets      
Stocks 5 1,250    1,250 
Debtors 6 87,229    105,399 
Cash at bank and in hand 82,985    30,330 
171,464    136,979 
Creditors: amount falling due within one year 7 (72,002)   (91,141)
Net current assets 99,462    45,838 
 
Total assets less current liabilities 261,456    210,870 
Creditors: amount falling due after more than one year 8 (29,654)   (35,833)
Provisions for liabilities 9 (91)   (91)
Net assets 231,711    174,946 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 231,709    174,944 
Shareholders' funds 231,711    174,946 
 


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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 19 July 2024 and were signed on its behalf by:


-------------------------------
Phillip Mason
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 December 2021 2  99,381  99,383 
Profit for the year 79,135  79,135 
Total comprehensive income for the year 79,135  79,135 
Dividends (3,572) (3,572)
Total investments by and distributions to owners (3,572) (3,572)
At 30 November 2022 2  174,944  174,946 
At 01 December 2022 2  174,944  174,946 
Profit for the year 68,089  68,089 
Total comprehensive income for the year 68,089  68,089 
Dividends (11,324) (11,324)
Total investments by and distributions to owners (11,324) (11,324)
At 30 November 2023 2  231,709  231,711 
5
General Information
People Express Taxis Rugby Limited is a private company, limited by shares, registered in , registration number 04981859, registration address Unit2, 25 Somers Road, Rugby, Warwickshire, CV22 7DG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – 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 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.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
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:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 8 (2022 : 8).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 23,711    23,711 
Additions  
Disposals (23,711)   (23,711)
At 30 November 2023  
Amortisation
At 01 December 2022 2,371    2,371 
Charge for year  
On disposals (2,371)   (2,371)
At 30 November 2023  
Net book values
At 30 November 2023  
At 30 November 2022 21,340    21,340 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 December 2022 108,764    135,292    30,028    274,084 
Additions 21,278    42,694    1,205    65,177 
Disposals (21,487)   (15,994)     (37,481)
At 30 November 2023 108,555    161,992    31,233    301,780 
Depreciation
At 01 December 2022 35,845    69,153    25,394    130,392 
Charge for year 1,463    15,591    1,168    18,222 
On disposals   (8,828)     (8,828)
At 30 November 2023 37,308    75,916    26,562    139,786 
Net book values
Closing balance as at 30 November 2023 71,247    86,076    4,671    161,994 
Opening balance as at 01 December 2022 72,919    66,139    4,634    143,692 


5.

Stocks

2023
£
  2022
£
Spare parts 1,250    1,250 
1,250    1,250 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 82,726    81,542 
Prepayments & Accrued Income   23,857 
Advance Received  
82,726    105,399 

6.

Debtors: amounts falling due after one year

2023
£
  2022
£
Prepayments 4,503   
4,503   

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 5,510    25,154 
Credit Card Account 229   
Bounce Back Loan 10,590   
Close Brothers Finance 6,176   
Corporation Tax 17,342    21,141 
PAYE & Social Security 1,046    697 
Advance Paid 413   
Other Creditors   2 
Wages & Salaries Control Account (10)   (10)
Directors' Current Accounts   17,260 
VAT 30,706    26,897 
72,002    91,141 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bounce Back Loan 15,243    35,833 
Close Brothers Finance 14,411   
29,654    35,833 

9.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 91    91 
91    91 

6