Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-312025-05-12Buying and selling motor vehiclesfalsetrue2023-03-03false4falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14704398 2023-03-02 14704398 2023-03-03 2023-12-31 14704398 2022-03-03 2023-03-02 14704398 2023-12-31 14704398 c:Director2 2023-03-03 2023-12-31 14704398 d:CurrentFinancialInstruments 2023-12-31 14704398 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14704398 d:ShareCapital 2023-12-31 14704398 d:RetainedEarningsAccumulatedLosses 2023-12-31 14704398 c:OrdinaryShareClass1 2023-03-03 2023-12-31 14704398 c:OrdinaryShareClass1 2023-12-31 14704398 c:FRS102 2023-03-03 2023-12-31 14704398 c:AuditExempt-NoAccountantsReport 2023-03-03 2023-12-31 14704398 c:FullAccounts 2023-03-03 2023-12-31 14704398 c:PrivateLimitedCompanyLtd 2023-03-03 2023-12-31 14704398 e:PoundSterling 2023-03-03 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14704398














MIDAS TAXIS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

 
MIDAS TAXIS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 3


 
MIDAS TAXIS LIMITED
REGISTERED NUMBER:14704398

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Current assets
  

Debtors: amounts falling due within one year
 4 
54,610

Cash at bank and in hand
  
122,040

Current liabilities
  
176,650

Creditors: amounts falling due within one year
 5 
(140,107)

Net assets
  
36,543


Capital and reserves
  

Called up share capital 
 6 
100

Profit and loss account
  
36,443

  
36,543


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question 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 financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 May 2025.




S S Judah
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
MIDAS TAXIS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Midas Taxis Limited is a private limited liability company incorporated in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The Company was incorporated on 3 March 2023 and commenced trading on the same date.
The principal activity of the Company is the sale of second-hand motor vehicles.
The Company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue is can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Revenue from the sale of motor vehicles is recognised when title passes.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.4

Debtors

Short-term debtors are measured at the transaction price, less any impairment. 

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

Page 2

 
MIDAS TAXIS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Employees

The directors were the only employees of the Company during the current period.



4.


Debtors

2023
£

Trade debtors
32,000

Other debtors
6,610

Prepayments and accrued income
16,000

54,610



5.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
2,292

Taxation and social security
35,311

Other creditors
97,600

Accruals and deferred income
4,904

140,107



6.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1 each
100


On incorporation, 100 Ordinary shares of £1 were allotted and fully paid at par to provide initial capital.

 
Page 3