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COMPANY REGISTRATION NUMBER: 07089258
Academy Mini Cabs Limited
Filleted Unaudited Abridged Financial Statements
30 September 2024
Academy Mini Cabs Limited
Abridged Financial Statements
Period from 1 December 2023 to 30 September 2024
Contents
Page
Abridged statement of financial position
1
Accounting policies
2
Notes to the abridged financial statements
4
Academy Mini Cabs Limited
Abridged Statement of Financial Position
30 September 2024
30 Sep 24
30 Nov 23
Note
£
£
£
Creditors: amounts falling due within one year
64,942
63,833
--------
--------
Net current liabilities
64,942
63,833
--------
--------
Total assets less current liabilities
( 64,942)
( 63,833)
--------
--------
Net liabilities
( 64,942)
( 63,833)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 64,944)
( 63,835)
--------
--------
Shareholders deficit
( 64,942)
( 63,833)
--------
--------
These abridged financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the period ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Mrs T Ali-Khan
Director
Company registration number: 07089258
Academy Mini Cabs Limited
Accounting Policies
Period from 1 December 2023 to 30 September 2024
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Academy Mini Cabs Limited
Notes to the Abridged Financial Statements
Period from 1 December 2023 to 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 90 Craven Park Road, Harlesden, London, Brent, NW10 4AG.
2. Statement of compliance
These abridged 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. Employee numbers
The average number of persons employed by the company during the period amounted to Nil (2023: Nil).
4. Intangible assets
£
Cost
At 1 December 2023 and 30 September 2024
35,000
--------
Amortisation
At 1 December 2023 and 30 September 2024
35,000
--------
Carrying amount
At 30 September 2024
--------
At 30 November 2023
--------
5. Directors' advances, credits and guarantees
At the year end company owed Mrs T Ali-Khan £64,462 (2023: 63,353).
6. Related party transactions
The company was under the control of Mrs T Ali-Khan throughout the current and previous year. Mrs T Ali-Khan is the managing director and majority shareholder.