Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-311trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.hiring of taxi cabs2022-08-31falsefalsefalse 14326882 2022-08-30 14326882 2022-08-31 2023-12-31 14326882 2021-08-31 2022-08-30 14326882 2023-12-31 14326882 c:Director1 2022-08-31 2023-12-31 14326882 d:MotorVehicles 2022-08-31 2023-12-31 14326882 d:MotorVehicles 2023-12-31 14326882 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-31 2023-12-31 14326882 d:CurrentFinancialInstruments 2023-12-31 14326882 d:Non-currentFinancialInstruments 2023-12-31 14326882 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14326882 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 14326882 d:ShareCapital 2023-12-31 14326882 d:RetainedEarningsAccumulatedLosses 2023-12-31 14326882 c:OrdinaryShareClass1 2022-08-31 2023-12-31 14326882 c:OrdinaryShareClass1 2023-12-31 14326882 c:FRS102 2022-08-31 2023-12-31 14326882 c:AuditExempt-NoAccountantsReport 2022-08-31 2023-12-31 14326882 c:FullAccounts 2022-08-31 2023-12-31 14326882 c:PrivateLimitedCompanyLtd 2022-08-31 2023-12-31 14326882 e:PoundSterling 2022-08-31 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 14326882














EV CARRIAGES LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

 
EV CARRIAGES LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
EV CARRIAGES LTD
REGISTERED NUMBER:14326882

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
6,436,237

Current assets
  

Debtors: amounts falling due within one year
 5 
547,683

Cash at bank and in hand
  
681

  
548,364

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(862,803)

Net current liabilities
  
 
 
(314,439)

Total assets less current liabilities
  
6,121,798

Creditors: amounts falling due after more than one year
 7 
(5,987,517)

Net assets
  
134,281


Capital and reserves
  

Called up share capital 
 8 
1

Profit and loss account
  
134,280

  
134,281


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 period 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 comprehensive income 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 28 August 2024.

M Glassman
Director

The notes on pages 2 to 5 form part of these financial statements.
 
Page 1

 
EV CARRIAGES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

EV Carriages Ltd is a private limited liability company incorporated in England and Wales, with its principal place of business at 100 Dunbridge Street, London, E3 6JG and registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The Company was incorporated on 31 August 2022 and commenced its activities on 17th February 2023.
The principal activity of the Company is that of hiring of taxi cabs.
The Company's functional and presentational currency is £ Sterling.

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

Going concern

The director has prepared cash flow projections based on current and anticipated future trading and taking this into account, together with a commitment from the parent undertaking to provide sufficient financial support to the Company to enable it to meet its financial obligations for at least twelve months from the date these financial statements are approved, he is satisfied that the going concern basis continues to be appropriate.

 
2.3

Turnover

Turnover 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 for services is recognised in the period in which the services are provided.

 
2.4

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 2

 
EV CARRIAGES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

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.


 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
10% - 15% reducing balance

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.

 
2.7

Debtors

Short-term debtors are measured at the transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
2.9

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.

Page 3

 
EV CARRIAGES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Employees

The director was the only employee of the Company during the current period.



4.


Tangible fixed assets





Motor vehicles

£



Cost


Additions
7,355,700



At 31 December 2023

7,355,700



Depreciation


Charge for the period on owned assets
919,463



At 31 December 2023

919,463



Net book value



At 31 December 2023
6,436,237


5.


Debtors

2023
£


Amounts owed by group undertakings
542,881

Other debtors
4,802

547,683


Page 4

 
EV CARRIAGES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
£

Other loans
760,457

Trade creditors
8,357

Accruals and deferred income
93,989

862,803


Other loans are secured by fixed charges on the Company's assets.


7.


Creditors: Amounts falling due after more than one year

2023
£

Other loans
5,987,517


Other loans are secured by fixed charges on the Company's assets.


8.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1
1


On incorporation, 1 Ordinary share of £1 was allotted and fully paid at par to provide initial capital.


9.


Related party transactions

The Company has taken advantage of the exemptions available under section 33.1A of FRS102 not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.


10.


Controlling party

The Company is a wholly owned subsidiary of Colts Cabs Limited, a company registered in England and Wales. 

 
Page 5