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Registration number: 05633846

Heaton Cab Company Limited

Unaudited Financial Statements

for the Year Ended 30 March 2024

 

Heaton Cab Company Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Financial Statements

3 to 7

 

Heaton Cab Company Limited

(Registration number: 05633846)
Statement of Financial Position as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

96,257

109,118

Current assets

 

Stocks

5

3,852

5,673

Debtors

6

50

-

Cash at bank and in hand

 

464

167

 

4,366

5,840

Creditors: Amounts falling due within one year

7

(438,809)

(391,132)

Net current liabilities

 

(434,443)

(385,292)

Total assets less current liabilities

 

(338,186)

(276,174)

Creditors: Amounts falling due after more than one year

7

(13,388)

(26,494)

Provisions for liabilities

(1,463)

(4,641)

Net liabilities

 

(353,037)

(307,309)

Capital and reserves

 

Called up share capital

4,601

4,601

Retained earnings

(357,638)

(311,910)

Shareholders' deficit

 

(353,037)

(307,309)

 

Heaton Cab Company Limited

(Registration number: 05633846)
Statement of Financial Position as at 30 March 2024

For the financial year ending 30 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 23 December 2024 and signed on its behalf by:
 

Mr B Stanley
Director

Mrs L Stanley
Director

 
     
 

Heaton Cab Company Limited

Notes to the Financial Statements for the Year Ended 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
C/o Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
England

These financial statements were authorised for issue by the Board on 23 December 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

At the balance sheet date, the company had net liabilities. The company continues to rely on the financial support of its creditors. The company sees no reason why the continued support of the creditors would not be forthcoming for the foreseeable future and for a period not less than 12 months from the date of approval of these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

Heaton Cab Company Limited

Notes to the Financial Statements for the Year Ended 30 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% Straight line

Fixtures and fittings

15% Straight line

Motor vehicles

20% Straight line

Computer equipment

25% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

 

Heaton Cab Company Limited

Notes to the Financial Statements for the Year Ended 30 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Cab Plates
£

Motor vehicles
 £

Total
£

Cost or valuation

At 31 March 2023

592

22,706

45,000

248,679

316,977

At 30 March 2024

592

22,706

45,000

248,679

316,977

Depreciation

At 31 March 2023

38

22,706

-

185,115

207,859

Charge for the year

147

-

-

12,714

12,861

At 30 March 2024

185

22,706

-

197,829

220,720

Carrying amount

At 30 March 2024

407

-

45,000

50,850

96,257

At 30 March 2023

554

-

45,000

63,564

109,118

5

Stocks

2024
£

2023
£

Other inventories

3,852

5,673

 

Heaton Cab Company Limited

Notes to the Financial Statements for the Year Ended 30 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

50

-

 

50

-

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

8,193

34,812

Trade creditors

 

1,535

4,161

Taxation and social security

 

59

221

Other creditors

 

429,022

351,938

 

438,809

391,132

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

13,388

26,494

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,388

26,494

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,193

13,885

Hire purchase contracts

-

20,927

8,193

34,812

 

Heaton Cab Company Limited

Notes to the Financial Statements for the Year Ended 30 March 2024

Secured creditors

The bank loan is secured by a personal guarantee from the directors and a fixed and floating charge over the assets of the company in favour of the bank.

The hire purchase agreements are secured on the assets to which they relate.