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Registered number: 04724820
Pateman Taxis Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Tony R Pomfret & Associates
37a High Street
Hoddesdon
EN11 8TA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04724820
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,968 176
47,968 176
CURRENT ASSETS
Debtors 5 2,558 769
Cash at bank and in hand 4,064 10,067
6,622 10,836
Creditors: Amounts Falling Due Within One Year 6 (50,107 ) (9,577 )
NET CURRENT ASSETS (LIABILITIES) (43,485 ) 1,259
TOTAL ASSETS LESS CURRENT LIABILITIES 4,483 1,435
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,826 ) (44 )
NET ASSETS 1,657 1,391
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 1,655 1,389
SHAREHOLDERS' FUNDS 1,657 1,391
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Pateman
Director
03/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Pateman Taxis Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04724820 . The registered office is 37A High Street, Hoddesdon, Herts, EN11 8TA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 - 1,511 1,511
Additions 63,782 - 63,782
As at 30 April 2024 63,782 1,511 65,293
Depreciation
As at 1 May 2023 - 1,335 1,335
Provided during the period 15,946 44 15,990
As at 30 April 2024 15,946 1,379 17,325
Net Book Value
As at 30 April 2024 47,836 132 47,968
As at 1 May 2023 - 176 176
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,178 769
Other debtors 1,380 -
2,558 769
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 50,107 4,600
Taxation and social security - 4,977
50,107 9,577
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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8. Related Party Transactions
Directors' Loan Accounts

Directors' Loan Accounts

At balance sheet date, the company owed £48,229 (2023 £3,006) to Mr P Pateman and Mrs L Pateman who are directors and shareholders of the company
9. Ultimate Controlling Party
The company is controlled by Mr Mr P Pateman and Mrs L Pateman by virtue of their ownership of 100% of the issued share capital in the company.
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