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REGISTERED NUMBER: 08357904 (England and Wales)


UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

LONDON TAXI FLEET SERVICES LIMITED

LONDON TAXI FLEET SERVICES LIMITED (REGISTERED NUMBER: 08357904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

LONDON TAXI FLEET SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: G Mauro
L Mauro





REGISTERED OFFICE: Independence House
14a Nelson Street
Southend-on-Sea
Essex
SS1 1EF





REGISTERED NUMBER: 08357904 (England and Wales)





ACCOUNTANTS: Ashton Wallace
Chartered Certified Accountants
Independence House
14a Nelson Street
Southend-on-Sea
Essex
SS1 1EF

LONDON TAXI FLEET SERVICES LIMITED (REGISTERED NUMBER: 08357904)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 167,645 83,615

CURRENT ASSETS
Debtors 5 39,648 13,248
Cash at bank and in hand 12,515 31,520
52,163 44,768
CREDITORS
Amounts falling due within one year 6 154,624 111,003
NET CURRENT LIABILITIES (102,461 ) (66,235 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,184

17,380

CREDITORS
Amounts falling due after more than one
year

7

(65,213

)

(16,820

)

PROVISIONS FOR LIABILITIES (2,753 ) (3,428 )
NET LIABILITIES (2,782 ) (2,868 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,882 ) (2,968 )
SHAREHOLDERS' FUNDS (2,782 ) (2,868 )

LONDON TAXI FLEET SERVICES LIMITED (REGISTERED NUMBER: 08357904)

BALANCE SHEET - continued
31ST MAY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 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.

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 11th August 2024 and were signed on its behalf by:




G Mauro - Director



L Mauro - Director


LONDON TAXI FLEET SERVICES LIMITED (REGISTERED NUMBER: 08357904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

London Taxi Fleet Services 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 goods and 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.
Motor vehicles - Over 15 years from registration
Computer equipment - 33% on cost

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.

LONDON TAXI FLEET SERVICES LIMITED (REGISTERED NUMBER: 08357904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

2. ACCOUNTING POLICIES - continued

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.

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st June 2023 298,958 514 299,472
Additions 126,658 730 127,388
Disposals (40,667 ) - (40,667 )
At 31st May 2024 384,949 1,244 386,193
DEPRECIATION
At 1st June 2023 215,343 514 215,857
Charge for year 30,360 243 30,603
Eliminated on disposal (27,912 ) - (27,912 )
At 31st May 2024 217,791 757 218,548
NET BOOK VALUE
At 31st May 2024 167,158 487 167,645
At 31st May 2023 83,615 - 83,615

LONDON TAXI FLEET SERVICES LIMITED (REGISTERED NUMBER: 08357904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 105,000
At 31st May 2024 105,000
DEPRECIATION
Charge for year 8,750
At 31st May 2024 8,750
NET BOOK VALUE
At 31st May 2024 96,250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,084 2,844
Other debtors 36,564 10,404
39,648 13,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,680 7,680
Hire purchase contracts 40,472 -
Trade creditors 36,177 38,366
Amounts owed to associates 41,492 53,585
Taxation and social security 3,790 8,090
Other creditors 25,013 3,282
154,624 111,003

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 9,820 16,820
Hire purchase contracts 55,393 -
65,213 16,820

LONDON TAXI FLEET SERVICES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
LONDON TAXI FLEET SERVICES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st May 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Ashton Wallace
Chartered Certified Accountants
Independence House
14a Nelson Street
Southend-on-Sea
Essex
SS1 1EF


Date: .............................................