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REGISTERED NUMBER: 04130123 (England and Wales)















Able Taxis Limited

Unaudited Financial Statements

for the year ended

31 August 2024






Able Taxis Limited (Registered number: 04130123)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Able Taxis Limited

Company Information
for the year ended 31 August 2024







DIRECTOR: C D B Churchyard





REGISTERED OFFICE: Unit 8 Hopper Way
Diss Business Park
Diss
Norfolk
IP22 4GT





REGISTERED NUMBER: 04130123 (England and Wales)

Able Taxis Limited (Registered number: 04130123)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 792 1,292
Tangible assets 5 190,502 158,118
191,294 159,410

CURRENT ASSETS
Debtors 6 19,084 16,591
Cash at bank and in hand 14,057 52,417
33,141 69,008
CREDITORS
Amounts falling due within one year 7 (79,691 ) (84,474 )
NET CURRENT LIABILITIES (46,550 ) (15,466 )
TOTAL ASSETS LESS CURRENT LIABILITIES 144,744 143,944

CREDITORS
Amounts falling due after more than one year 8 (39,374 ) (66,104 )

PROVISIONS FOR LIABILITIES (9,418 ) (9,551 )
NET ASSETS 95,952 68,289

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 95,951 68,288
SHAREHOLDERS' FUNDS 95,952 68,289

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 2 January 2025 and were signed by:





C D B Churchyard - Director


Able Taxis Limited (Registered number: 04130123)

Notes to the Financial Statements
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Able Taxis Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery- 15% on reducing balance

Vehicles are depreciated annually based upon a review of their values at the year end by the director.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Able Taxis Limited (Registered number: 04130123)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 48,000
AMORTISATION
At 1 September 2023 46,708
Amortisation for year 500
At 31 August 2024 47,208
NET BOOK VALUE
At 31 August 2024 792
At 31 August 2023 1,292

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2023 9,370 176,903 186,273
Additions - 47,158 47,158
Disposals - (2,600 ) (2,600 )
At 31 August 2024 9,370 221,461 230,831
DEPRECIATION
At 1 September 2023 8,102 20,053 28,155
Charge for year 190 11,984 12,174
At 31 August 2024 8,292 32,037 40,329
NET BOOK VALUE
At 31 August 2024 1,078 189,424 190,502
At 31 August 2023 1,268 156,850 158,118

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 72,975
NET BOOK VALUE
At 31 August 2024 72,975
At 31 August 2023 72,975

Able Taxis Limited (Registered number: 04130123)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,084 16,591

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,311 10,056
Hire purchase contracts 16,419 16,419
Trade creditors 13,625 10,935
Taxation and social security 35,070 38,464
Other creditors 4,266 8,600
79,691 84,474

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 7,904 18,214
Hire purchase contracts 31,470 47,890
39,374 66,104

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. RELATED PARTY DISCLOSURES

At the year end the director was owed £312 (2023 - £936) relating to an interest free loan with no set repayment terms.

At the year end an employee was owed £624 (2023 - £4,624) relating to an interest free loan with no set repayment terms.