Registered number
06031773
Hereford Pedicabs Ltd
Filleted Accounts
31 March 2024
Hereford Pedicabs Ltd
Registered number: 06031773
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 99,780 93,041
Current assets
Debtors 4 10,253 9,380
Cash at bank and in hand 52,513 43,885
62,766 53,265
Creditors: amounts falling due within one year 5 (23,681) (5,520)
Net current assets 39,085 47,745
Total assets less current liabilities 138,865 140,786
Creditors: amounts falling due after more than one year 6 (3,769) (13,280)
Provisions for liabilities (18,135) (17,678)
Net assets 116,961 109,828
Capital and reserves
Called up share capital 100 100
Profit and loss account 116,861 109,728
Shareholders' funds 116,961 109,828
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
William Vaughan
Director
Approved by the board on 30 August 2024
Hereford Pedicabs Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 15% straight line
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 3,228 16,631 145,305 165,164
Additions - 1,549 22,128 23,677
Disposals - - (16,897) (16,897)
At 31 March 2024 3,228 18,180 150,536 171,944
Depreciation
At 1 April 2023 3,228 15,310 53,585 72,123
Charge for the year - 586 16,352 16,938
On disposals - - (16,897) (16,897)
At 31 March 2024 3,228 15,896 53,040 72,164
Net book value
At 31 March 2024 - 2,284 97,496 99,780
At 31 March 2023 - 1,321 91,720 93,041
4 Debtors 2024 2023
£ £
Trade debtors 10,253 9,380
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,755 -
Trade creditors 7,682 3,005
Taxation and social security costs 6,700 (1,716)
Director's Loan Account 4,544 4,231
23,681 5,520
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,769 13,280
7 Controlling party
The ultimate controlling party during the period; William Vaughan
William Vaughan holds 100% of the issued share capital and is deemed the ultimte controlling party.
8 Other information
Hereford Pedicabs Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bankside, Portway
Burghill
Hereford
HR4 8NG
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