Registration number:
Star Taxis (Dover) Limited
for the Year Ended 31 May 2024
Star Taxis (Dover) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Star Taxis (Dover) Limited
Company Information
Directors |
Mrs AR Gasking Mr GE Gasking |
Company secretary |
Mrs AR Gasking |
Registered office |
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Accountants |
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Star Taxis (Dover) Limited
(Registration number: 05136785)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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( |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
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Shareholders' deficit |
( |
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For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Star Taxis (Dover) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Office A
First Floor
"The Base", Hollow Wood Road
Dover
Kent
CT17 OUB
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of Company and rounded to the nearest pound.
Going concern
The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company's ability to continue as a going concern.
Star Taxis (Dover) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
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Accounting policies (continued) |
Judgements
No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements. |
No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Government grants
Grants of a revenue nature are recognised in the Profit and Loss Account and Statement of Retained Earnings in the same period as the related expenditure. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Finance income and costs policy
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year they are incurred.
Star Taxis (Dover) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
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Accounting policies (continued) |
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit and loss, except that a change attributable to an item of income or expenses recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
20% Reducing balance |
Motor vehicles |
25% Reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Star Taxis (Dover) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
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Accounting policies (continued) |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Star Taxis (Dover) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 June 2023 |
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At 31 May 2024 |
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Amortisation |
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At 1 June 2023 |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
- |
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Tangible assets |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 June 2023 |
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- |
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Additions |
- |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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- |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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- |
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Star Taxis (Dover) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
Debtors |
2024 |
2023 |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Accruals and deferred income |
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Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank overdrafts |
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Directors current account |
133,936 |
117,674 |
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