Durham Cabs Ltd. Filleted Accounts Cover
Durham Cabs Ltd.
Company No. SC268098
Information for Filing with The Registrar
31 May 2024
Durham Cabs Ltd. Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 May 2024.
Principal activities
The principal activity of the company during the year under review was taxi operation.
Director
The Director who served at any time during the year was as follows:
L. Dunn
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
L. Dunn
Director
29 January 2025
Durham Cabs Ltd. Balance Sheet Registrar
at
31 May 2024
Company No.
SC268098
Notes
2024
2023
£
£
Fixed assets
Intangible assets
4
4,7004,700
Tangible assets
5
13,76217,202
18,46221,902
Current assets
Debtors
6
-6,199
Cash at bank and in hand
35891
3586,290
Creditors: Amount falling due within one year
7
(13,664)
(15,660)
Net current liabilities
(13,306)
(9,370)
Total assets less current liabilities
5,15612,532
Creditors: Amounts falling due after more than one year
8
(1,999)
(12,531)
Net assets
3,1571
Capital and reserves
Called up share capital
11
Profit and loss account
10
3,156-
Total equity
3,1571
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 29 January 2025 and signed on its behalf by:
L. Dunn
Director
29 January 2025
Durham Cabs Ltd. Notes to the Accounts Registrar
for the year ended 31 May 2024
1
General information
Durham Cabs Ltd. is a private company limited by shares and incorporated in Scotland.
Its registered number is: SC268098
Its registered office is:
15 Park Avenue
Edinburgh
Scotland
EH15 1JT
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Motor vehicles
20% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Intangible fixed assets
Other
Total
£
£
Cost
At 1 June 2023
4,7004,700
At 31 May 2024
4,7004,700
Amortisation and impairment
Net book values
At 31 May 2024
4,7004,700
At 31 May 2023
4,7004,700
5
Tangible fixed assets
Motor vehicles
Total
£
£
Cost or revaluation
At 1 June 2023
41,99541,995
At 31 May 2024
41,99541,995
Depreciation
At 1 June 2023
24,79324,793
Charge for the year
3,4403,440
At 31 May 2024
28,23328,233
Net book values
At 31 May 2024
13,76213,762
At 31 May 2023
17,202
17,202
6
Debtors
2024
2023
£
£
Loans to directors
-6,199
-6,199
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,1302,130
Obligations under finance lease and hire purchase contracts
8,4549,318
Taxes and social security
2,240
3,613
Accruals and deferred income
840599
13,66415,660
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,9993,990
Obligations under finance lease and hire purchase contracts
-8,541
1,99912,531
9
Share Capital
1 ordinary share fully paid at £1 per share.
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
11
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
2,951
14,077
2,951
14,077
Dividends by type:
Non-equity preference dividends
--
Equity dividends
2,95114,077
2,951
14,077
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