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REGISTERED NUMBER: SC596633 (Scotland)















C and H Taxis Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






C and H Taxis Limited (Registered number: SC596633)






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


C and H Taxis Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C Whittle
H W Younger





REGISTERED OFFICE: 15 West Vows Walk
Kirkcaldy
Fife
KY1 1RX





REGISTERED NUMBER: SC596633 (Scotland)





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

C and H Taxis Limited (Registered number: SC596633)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 123,842 120,250

CURRENT ASSETS
Debtors 5 10,340 5,232
Cash at bank 104,450 94,979
114,790 100,211
CREDITORS
Amounts falling due within one year 6 118,340 116,938
NET CURRENT LIABILITIES (3,550 ) (16,727 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,292

103,523

PROVISIONS FOR LIABILITIES 4,150 3,467
NET ASSETS 116,142 100,056

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 116,042 99,956
SHAREHOLDERS' FUNDS 116,142 100,056

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





C Whittle - Director


C and H Taxis Limited (Registered number: SC596633)

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

1. STATUTORY INFORMATION

C and H Taxis Limited 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.

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

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.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

C and H Taxis Limited (Registered number: SC596633)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Taxi Motor
plates vehicles Totals
£    £    £   
COST
At 1 April 2023 102,000 38,000 140,000
Additions - 14,123 14,123
Disposals - (10,000 ) (10,000 )
At 31 March 2024 102,000 42,123 144,123
DEPRECIATION
At 1 April 2023 - 19,750 19,750
Charge for year - 10,531 10,531
Eliminated on disposal - (10,000 ) (10,000 )
At 31 March 2024 - 20,281 20,281
NET BOOK VALUE
At 31 March 2024 102,000 21,842 123,842
At 31 March 2023 102,000 18,250 120,250

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,703 3,908
Other debtors 5,637 1,324
10,340 5,232

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporation tax 3,561 4,138
Directors' current accounts 112,859 111,000
Accruals and deferred income 1,920 1,800
118,340 116,938

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the directors .

C and H Taxis Limited (Registered number: SC596633)

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

7. RELATED PARTY DISCLOSURES - continued

The company was under the control of C Whittle and H W Younger throughout the current and previous years. C Whittle and H W Younger are the only directors and shareholders.

At 31 March 2024, the company was due £5,637 from Treble Twenty Taxis Ltd (31 March 2023 - £1,324). H W Younger is a director of Treble Twenty Taxis Ltd.

At 31 March 2024, the company was due £5,500 to C Whittle (31 March 2023 - £4,500) and £107,359 to H W Younger (31 March 2023 - £106,500). These loans are interest free with no fixed terms for repayment.