Company Registration No. 03778330 (England and Wales)
GOLD LINE TAXIS LIMITED
Unaudited accounts
for the year ended 31 May 2024
GOLD LINE TAXIS LIMITED
Company Information
for the year ended 31 May 2024
Directors
Aneel Ahmed
Wahid Hussain
Company Number
03778330 (England and Wales)
Registered Office
2 FOUNTAIN COURT
VICTORIA STREET
ST. ALBANS
HERTFORDSHIRE
AL1 3TF
ENGLAND
Accountants
IAB Accountants Limited
200 Selbourne Road
Luton
Bedfordshire
LU4 8LT
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
GOLD LINE TAXIS LIMITED
for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
GOLD LINE TAXIS LIMITED for the year ended
31 May 2024 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of GOLD LINE TAXIS LIMITED, as a body, in accordance with the terms of our engagement letter dated 1 October 2021. Our work has been undertaken solely to prepare for your approval the accounts of GOLD LINE TAXIS LIMITED and state those matters that we have agreed to state to the Board of Directors of GOLD LINE TAXIS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GOLD LINE TAXIS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that GOLD LINE TAXIS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of GOLD LINE TAXIS LIMITED. You consider that GOLD LINE TAXIS LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of GOLD LINE TAXIS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
IAB Accountants Limited
Chartered Certified Accountants
200 Selbourne Road
Luton
Bedfordshire
LU4 8LT
19 February 2025
GOLD LINE TAXIS LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
2,633
3,510
Cash at bank and in hand
18,520
4,460
Creditors: amounts falling due within one year
(36,059)
(17,660)
Net current assets
23,101
4,910
Total assets less current liabilities
25,734
8,420
Creditors: amounts falling due after more than one year
(21,597)
(31,567)
Provisions for liabilities
Other provisions
(58)
(225)
Net assets/(liabilities)
4,079
(23,372)
Called up share capital
1,002
1,002
Profit and loss account
3,077
(24,374)
Shareholders' funds
4,079
(23,372)
For the year ending 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by
Aneel Ahmed
Director
Company Registration No. 03778330
GOLD LINE TAXIS LIMITED
Notes to the Accounts
for the year ended 31 May 2024
GOLD LINE TAXIS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03778330. The registered office is 2 FOUNTAIN COURT, VICTORIA STREET, ST. ALBANS, HERTFORDSHIRE, AL1 3TF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets (including goodwill)
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 and depreciation
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.
Motor vehicles
- 25% on reducing balance
Fixtures & fittings
- 25% on reducing balance
The accounts are presented in £ sterling.
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.
GOLD LINE TAXIS LIMITED
Notes to the Accounts
for the year ended 31 May 2024
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.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
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.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2023
23,471
129,759
153,230
At 31 May 2024
23,471
129,759
153,230
At 1 June 2023
22,149
127,571
149,720
Charge for the year
330
547
877
At 31 May 2024
22,479
128,118
150,597
At 31 May 2024
992
1,641
2,633
At 31 May 2023
1,322
2,188
3,510
GOLD LINE TAXIS LIMITED
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Trade debtors
39,348
13,241
Accrued income and prepayments
420
420
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,251
1,839
Taxes and social security
7,650
3,321
8
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
1,000 Ordinary of £1 each
1,000
1,000
1 Ordinary B of £1 each
1
1
1 Ordinary C of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 14 (2023: 14).