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REGISTERED NUMBER: 13708310 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CHELSEA CAB CO LIMITED

CHELSEA CAB CO LIMITED (REGISTERED NUMBER: 13708310)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHELSEA CAB CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mr J Flynn
Mrs D C Flynn





REGISTERED OFFICE: 1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA





REGISTERED NUMBER: 13708310 (England and Wales)





ACCOUNTANTS: Mackenzies Accountants Limited
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

CHELSEA CAB CO LIMITED (REGISTERED NUMBER: 13708310)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 4,121,783 3,619,477

CURRENT ASSETS
Debtors 5 27,598 147,624
Cash at bank 920,519 738,632
948,117 886,256
CREDITORS
Amounts falling due within one year 6 530,109 348,656
NET CURRENT ASSETS 418,008 537,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,539,791

4,157,077

CREDITORS
Amounts falling due after more than one
year

7

3,903,183

3,531,783
NET ASSETS 636,608 625,294

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 636,508 625,194
SHAREHOLDERS' FUNDS 636,608 625,294

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

CHELSEA CAB CO LIMITED (REGISTERED NUMBER: 13708310)

BALANCE SHEET - continued
31 OCTOBER 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 26 July 2024 and were signed on its behalf by:





Mr J Flynn - Director


CHELSEA CAB CO LIMITED (REGISTERED NUMBER: 13708310)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Chelsea Cab Co 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Computer equipment - 25% 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

CHELSEA CAB CO LIMITED (REGISTERED NUMBER: 13708310)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 November 2022 3,791,933 1,099 3,793,032
Additions 931,563 279 931,842
At 31 October 2023 4,723,496 1,378 4,724,874
DEPRECIATION
At 1 November 2022 173,280 275 173,555
Charge for year 429,260 276 429,536
At 31 October 2023 602,540 551 603,091
NET BOOK VALUE
At 31 October 2023 4,120,956 827 4,121,783
At 31 October 2022 3,618,653 824 3,619,477

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£
COST
At 1 November 2022 3,791,933
Additions 931,563
At 31 October 2023 4,723,496
DEPRECIATION
At 1 November 2022 173,280
Charge for year 429,260
At 31 October 2023 602,540
NET BOOK VALUE
At 31 October 2023 4,120,956
At 31 October 2022 3,618,653

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by associates 11,905 11,905
VAT - 24,588
Deferred tax asset 15,693 111,131
27,598 147,624

Amounts owed by associates is a balance of £11,905 [2022: £11,905] due from Fulham Taxi Repairs Ltd.

CHELSEA CAB CO LIMITED (REGISTERED NUMBER: 13708310)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts 443,807 335,718
Trade creditors 7,099 8,628
Social security and other taxes 169 -
VAT 51,068 -
Accruals and deferred income 24,476 -
Accrued expenses 3,490 4,310
530,109 348,656

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Hire purchase contracts 3,279,039 2,861,615
Directors' loan accounts 624,144 670,168
3,903,183 3,531,783

8. DEFERRED TAX
£
Balance at 1 November 2022 (111,131 )
Provided during year 95,438
Balance at 31 October 2023 (15,693 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Flynn.