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Registration number: 01867707

Radio Taxis (Southampton) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Radio Taxis (Southampton) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 14

 

Radio Taxis (Southampton) Limited

Company Information




 

Directors

Anthony Lee Ireland

Barry Doyle

Paul Smith

Kevin James Leggett

Timothy Odell

Simon Andrew May



 

Company secretary

Christine Anne Fry

Registered office

158 Millbrook Road East
Millbrook
Southampton
SO15 1JR

 

Accountants

Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Radio Taxis (Southampton) Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Radio Taxis (Southampton) Limited for the year ended 30 November 2024 as set out on pages 3 to 14 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/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Radio Taxis (Southampton) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Radio Taxis (Southampton) Limited and state those matters that we have agreed to state to the Board of Directors of Radio Taxis (Southampton) 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/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Radio Taxis (Southampton) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Radio Taxis (Southampton) 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 Radio Taxis (Southampton) Limited. You consider that Radio Taxis (Southampton) 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 Radio Taxis (Southampton) 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.




Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ


 

6 May 2025

 

Radio Taxis (Southampton) Limited

(Registration number: 01867707)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

66,839

 

1,025

Tangible assets

5

 

561,831

 

601,141

Investments

6

 

2

 

2

   

628,672

 

602,168

Current assets

   

 

Stocks

5,542

 

-

 

Debtors

7

896,374

 

985,608

 

Cash at bank and in hand

 

264,252

 

193,917

 

 

1,166,168

 

1,179,525

 

Creditors: Amounts falling due within one year

8

(903,431)

 

(916,893)

 

Net current assets

   

262,737

 

262,632

Total assets less current liabilities

   

891,409

 

864,800

Creditors: Amounts falling due after more than one year

8

 

(169,955)

 

(208,414)

Net assets

   

721,454

 

656,386

Capital and reserves

   

 

Called up share capital

9

8,200

 

8,600

 

Share premium reserve

208,500

 

208,500

 

Capital redemption reserve

6,749

 

6,349

 

Revaluation reserve

71,910

 

101,910

 

Retained earnings

426,095

 

331,027

 

Shareholders' funds

   

721,454

 

656,386

 

Radio Taxis (Southampton) Limited

(Registration number: 01867707)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 16 April 2025 and signed on its behalf by:
 

.........................................
Anthony Lee Ireland
Director

 

Radio Taxis (Southampton) Limited

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Share premium
£

Capital redemption reserve
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 December 2023

8,600

208,500

6,349

101,910

331,027

656,386

Profit for the year

-

-

-

-

124,068

124,068

Other comprehensive income

-

-

-

(30,000)

-

(30,000)

Total comprehensive income

-

-

-

(30,000)

124,068

94,068

Purchase of own share capital

(400)

-

-

-

(29,000)

(29,400)

Other capital redemption reserve movements

-

-

400

-

-

400

At 30 November 2024

8,200

208,500

6,749

71,910

426,095

721,454

Share capital
£

Share premium
£

Capital redemption reserve
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 December 2022

8,600

165,600

5,749

101,910

409,646

691,505

Loss for the year

-

-

-

-

(35,119)

(35,119)

New share capital subscribed

600

42,900

-

-

-

43,500

Purchase of own share capital

(600)

-

-

-

(43,500)

(44,100)

Other capital redemption reserve movements

-

-

600

-

-

600

At 30 November 2023

8,600

208,500

6,349

101,910

331,027

656,386

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
158 Millbrook Road East
Millbrook
Southampton
SO15 1JR

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 presentation currency of the financial statements is the Pound Sterling (£).

Group accounts not prepared

The financial statements contain information about Radio Taxis (Southampton) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% on reducing balance

Computer Equipment

25% on cost

Motor Vehicles

25% on cost

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.

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

10% on cost

Goodwill

10% on cost

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2023 - 53).

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 December 2023

-

1,843

1,843

Additions acquired separately

70,000

-

70,000

At 30 November 2024

70,000

1,843

71,843

Amortisation

At 1 December 2023

-

818

818

Amortisation charge

4,083

103

4,186

At 30 November 2024

4,083

921

5,004

Carrying amount

At 30 November 2024

65,917

922

66,839

At 30 November 2023

-

1,025

1,025

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

430,000

367,330

240,499

1,037,829

Revaluations

(30,000)

-

-

(30,000)

Additions

-

-

93,792

93,792

Disposals

-

(225,110)

(64,035)

(289,145)

At 30 November 2024

400,000

142,220

270,256

812,476

Depreciation

At 1 December 2023

-

305,855

130,834

436,689

Charge for the year

-

12,527

39,030

51,557

Eliminated on disposal

-

(202,183)

(35,418)

(237,601)

At 30 November 2024

-

116,199

134,446

250,645

Carrying amount

At 30 November 2024

400,000

26,021

135,810

561,831

At 30 November 2023

430,000

61,476

109,665

601,141

Included within the net book value of land and buildings above is £400,000 (2023 - £430,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's freehold property was revalued on 24 July 2024 by an independent valuer. The name and qualification of the independent valuer are Primmer Olds, Chartered Surveyors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £328,090 (2023 - £328,090).

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 December 2023

2

Carrying amount

At 30 November 2024

2

At 30 November 2023

2

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Taxi Shack Limited

158 Millbrook Road East
Southampton
SO15 1JR

Ordinary shares

100%

100%

Radio Taxis Limited

158 Millbrook Road East
Southampton
SO15 1JR

Ordinary shares

100%

100%

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

664,473

744,795

Prepayments

137,802

198,763

Other debtors

94,099

42,050

 

896,374

985,608

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

88,838

104,869

Trade creditors

 

120,920

201,539

Amounts owed to group undertakings and undertakings in which the company has a participating interest

91,192

-

Taxation and social security

 

394,485

410,009

Accruals and deferred income

 

131,807

121,637

Other creditors

 

76,189

78,839

 

903,431

916,893

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £78,616 (2023 - £94,647). The bank loan is secured on the freehold property, and the hire purchase contracts are secured on the assets to which they relate.

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

169,955

208,414

2024
£

2023
£

Due after more than five years

After more than five years by instalments

29,813

49,715

-

-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £157,175 (2023- £186,170)

Creditors include bank loans repayable by instalments of £29,813 (2023 - £49,715) due after more than five years.

 

Radio Taxis (Southampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

5,600

5,600

6,000

6,000

Ordinary B of £1 each

2,600

2,600

2,600

2,600

8,200

8,200

8,600

8,600

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/(deficit) on property, plant and equipment revaluation

(30,000)

(30,000)

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

143,210

188,402

Hire purchase contracts

26,745

20,012

169,955

208,414

Current loans and borrowings

2024
£

2023
£

Bank borrowings

47,640

65,791

Hire purchase contracts

41,198

39,078

88,838

104,869