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COMPANY REGISTRATION NUMBER: 09866610
THE BK TAXI COMPANY LTD
Unaudited Financial Statements
For the year ended
30 November 2023
THE BK TAXI COMPANY LTD
Financial Statements
Year ended 30 November 2023
Contents
Page
Officers and professional advisers
1
Director's report
2
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
6
THE BK TAXI COMPANY LTD
Officers and Professional Advisers
Director
Mr P. B. Chrisostomou
Registered office
111a George Lane
London
U.K
E18 1AN
Accountants
OMG
Chartered Certified Accountants
111a, George Lane
London
E18 1AN
THE BK TAXI COMPANY LTD
Director's Report
Year ended 30 November 2023
The director presents his report and the unaudited financial statements of the company for the year ended 30 November 2023 .
Principal activities
The principal activity of the company during the year was that of providing a taxi service.
Director
The director who served the company during the year was as follows:
Mr P. B. Chrisostomou
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 29 August 2024 and signed on behalf of the board by:
Mr P. B. Chrisostomou
Director
Registered office:
111a George Lane
London
U.K
E18 1AN
THE BK TAXI COMPANY LTD
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of THE BK TAXI COMPANY LTD
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of THE BK TAXI COMPANY LTD for the year ended 30 November 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of THE BK TAXI COMPANY LTD in accordance with the terms of our engagement letter dated 10 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of THE BK TAXI COMPANY LTD and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than THE BK TAXI COMPANY LTD and its director for our work or for this report.
It is your duty to ensure that THE BK TAXI COMPANY LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of THE BK TAXI COMPANY LTD. You consider that THE BK TAXI COMPANY LTD is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of THE BK TAXI COMPANY LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
OMG Chartered Certified Accountants
111a, George Lane London E18 1AN
29 August 2024
THE BK TAXI COMPANY LTD
Statement of Income and Retained Earnings
Year ended 30 November 2023
2023
2022
Note
£
£
Administrative expenses
584
216
----
----
Operating loss
( 584)
( 216)
----
----
Loss before taxation
( 584)
( 216)
Tax on loss
----
----
Loss for the financial year and total comprehensive income
( 584)
( 216)
----
----
Dividends paid and payable
( 5,449)
Retained earnings at the start of the year
5,033
5,249
-------
-------
Retained (losses)/earnings at the end of the year
( 1,000)
5,033
-------
-------
All the activities of the company are from continuing operations.
THE BK TAXI COMPANY LTD
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
13,000
Cash at bank and in hand
1,987
----
--------
14,987
Creditors: amounts falling due within one year
6
8,954
----
--------
Net current assets
6,033
----
-------
Total assets less current liabilities
6,033
----
-------
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss account
( 1,000)
5,033
-------
-------
Shareholders funds
6,033
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
Mr P. B. Chrisostomou
Director
Company registration number: 09866610
THE BK TAXI COMPANY LTD
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 111a George Lane, London, E18 1AN, U.K.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 December 2022 and 30 November 2023
598
598
----
----
Depreciation
At 1 December 2022 and 30 November 2023
598
598
----
----
Carrying amount
At 30 November 2023
----
----
At 30 November 2022
----
----
5. Debtors
2023
2022
£
£
Other debtors
13,000
----
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,103
Other creditors
6,851
----
-------
8,954
----
-------
The amount due to the director is repayable on demand, unsecured and interest free.
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
8. Controlling party
The company was under the control of Mr P. B. Chrisostomou , the managing director and sole shareholder