Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity112falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11677210 2023-04-01 2024-03-31 11677210 2022-04-01 2023-03-31 11677210 2024-03-31 11677210 2023-03-31 11677210 c:Director1 2023-04-01 2024-03-31 11677210 d:MotorVehicles 2023-04-01 2024-03-31 11677210 d:MotorVehicles 2024-03-31 11677210 d:MotorVehicles 2023-03-31 11677210 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11677210 d:OfficeEquipment 2023-04-01 2024-03-31 11677210 d:OfficeEquipment 2024-03-31 11677210 d:OfficeEquipment 2023-03-31 11677210 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11677210 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11677210 d:Goodwill 2023-04-01 2024-03-31 11677210 d:Goodwill 2024-03-31 11677210 d:Goodwill 2023-03-31 11677210 d:CurrentFinancialInstruments 2024-03-31 11677210 d:CurrentFinancialInstruments 2023-03-31 11677210 d:Non-currentFinancialInstruments 2024-03-31 11677210 d:Non-currentFinancialInstruments 2023-03-31 11677210 d:Non-currentFinancialInstruments 1 2024-03-31 11677210 d:Non-currentFinancialInstruments 1 2023-03-31 11677210 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 11677210 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 11677210 c:FRS102 2023-04-01 2024-03-31 11677210 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11677210 c:FullAccounts 2023-04-01 2024-03-31 11677210 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11677210 2 2023-04-01 2024-03-31 11677210 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 11677210 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11677210









TUNBRIDGE WELLS 888 TAXIS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
  
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TUNBRIDGE WELLS 888 TAXIS LTD
FOR THE YEAR ENDED 31 MARCH 2024

You consider that the Company is exempt from an audit for the year ended 31 March 2024. You have acknowledged, on the Statement of financial position, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the financial statements on pages 10 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 financial statements.

  



Witton Metcalfe
 
77 High Street
Sevenoaks
Kent
TN13 1LD
27 August 2024
Page 1

 
TUNBRIDGE WELLS 888 TAXIS LTD
REGISTERED NUMBER: 11677210

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£


Fixed assets
314,408
279,155

Current assets
240,372
234,121

Creditors: amounts falling due within one year
(299,017)
(250,241)

Net current liabilities
 
 
(58,645)
 
 
(16,120)

Total assets less current liabilities
255,763
263,035

Creditors: amounts falling due after more than one year
(114,167)
(150,000)

Provisions for liabilities

Deferred taxation
(60,311)
-

 
 
(60,311)
 
 
-

Net assets
81,285
113,035



Capital and reserves
81,285
113,035


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2024.




Said Bouamra
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Tunbridge Wells 888 Taxis Ltd is a private company limited by shares, registered in England and Wales, company number 11677210. Its registered office is situated at David Salomons Estate, Broomhill Road, Tunbridge Wells, Kent, TN3 0TG. The company's principal activity is as a private hire coach and Hackney carriage operator. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 6

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 2).

Page 7

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
55,000



At 31 March 2024

55,000



Amortisation


At 1 April 2023
10,950


Charge for the year on owned assets
3,667



At 31 March 2024

14,617



Net book value



At 31 March 2024
40,383



At 31 March 2023
44,050



Page 8

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
337,304
3,275
340,579


Additions
117,310
1,095
118,405



At 31 March 2024

454,614
4,370
458,984



Depreciation


At 1 April 2023
103,982
1,492
105,474


Charge for the year on owned assets
78,222
1,263
79,485



At 31 March 2024

182,204
2,755
184,959



Net book value



At 31 March 2024
272,410
1,615
274,025



At 31 March 2023
233,322
1,783
235,105


6.


Debtors

2024
2023
£
£


Trade debtors
219,780
212,856

Other debtors
12,507
18,001

Prepayments and accrued income
4,107
546

236,394
231,403



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,977
2,718

3,977
2,718


Page 9

 
TUNBRIDGE WELLS 888 TAXIS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
16,400
16,400

Trade creditors
25,295
27,925

Amounts owed to connected entities
40,687
51,417

Corporation tax
6,334
3,448

Other taxation and social security
110,448
84,988

Other creditors
91,961
61,526

Accruals and deferred income
7,892
4,537

299,017
250,241



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
114,167
-

Share capital treated as debt
-
150,000

114,167
150,000



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
3,977
2,718




Financial assets measured at fair value through profit or loss comprise...


11.


Pension commitments

The company has a workplace pension scheme, the contributions to which amounted to £1,442 in the year. The annual financial commitment is £1,442. 

 
Page 10