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REGISTERED NUMBER: SC443655 (Scotland)















Treble Twenty Taxis Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Treble Twenty Taxis Ltd (Registered number: SC443655)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Treble Twenty Taxis Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: H W Younger





SECRETARY: C Whittle





REGISTERED OFFICE: 31 Pentland Place
Kirkcaldy
Fife
KY2 6AG





REGISTERED NUMBER: SC443655 (Scotland)





ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW

Treble Twenty Taxis Ltd (Registered number: SC443655)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,358 17,560

CURRENT ASSETS
Debtors 5 10,533 13,554
Cash at bank 164,217 137,729
174,750 151,283
CREDITORS
Amounts falling due within one year 6 53,306 46,735
NET CURRENT ASSETS 121,444 104,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,802

122,108

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 132,702 122,008
132,802 122,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 January 2025 and were signed by:





H W Younger - Director


Treble Twenty Taxis Ltd (Registered number: SC443655)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Treble Twenty Taxis Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition
Turnover shown in the profit and loss account represents amounts derived from the provision of services to customers during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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:

Goodwill - 10% straight line

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.

Tangible fixed 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.

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:

Motor vehicles - 25% straight line
Equipment - 25% straight line
Taxi plates - 25% straight line

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Treble Twenty Taxis Ltd (Registered number: SC443655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Taxi Motor
plates vehicles Equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 19,500 37,185 3,120 59,805
DEPRECIATION
At 1 April 2023 19,500 19,625 3,120 42,245
Charge for year - 6,202 - 6,202
At 31 March 2024 19,500 25,827 3,120 48,447
NET BOOK VALUE
At 31 March 2024 - 11,358 - 11,358
At 31 March 2023 - 17,560 - 17,560

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 10,533 13,554

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporation tax 3,964 1,826
CH Taxis 5,637 1,324
Directors' current accounts 41,785 41,785
Accruals and deferred income 1,920 1,800
53,306 46,735

Treble Twenty Taxis Ltd (Registered number: SC443655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RELATED PARTY TRANSACTIONS

The company was under the control of H W Younger throughout the current and previous years. H W Younger is the sole director and shareholder.

At 31 March 2024, the company was due £5,637 to C and H Taxis Limited (2023 - £1,324). H W Younger is a director of C and H Taxis Limited.

At 31 March 2024 the company was due £41,785 to H W Younger (2023 - £41,785). This loan is interest free with no fixed terms for repayment.