Registered number
15165058
Hi Town Transport Ltd
Filleted Accounts
31 March 2025
Hi Town Transport Ltd
Registered number: 15165058
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 19,130 22,546
Current assets
Debtors 4 288,379 208,831
Cash at bank and in hand 149,263 76,715
437,642 285,546
Creditors: amounts falling due within one year 5 (308,571) (223,328)
Net current assets 129,071 62,218
Total assets less current liabilities 148,201 84,764
Provisions for liabilities - (495)
Net assets 148,201 84,269
Capital and reserves
Called up share capital 1 1
Profit and loss account 148,200 84,268
Shareholders' funds 148,201 84,269
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
GH Olds
Director
Approved by the board on 8 May 2025
Hi Town Transport Ltd
Notes to the Accounts
for the period from 1 October 2024 to 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2024 8,365 21,696 30,061
Additions 390 - 390
At 31 March 2025 8,755 21,696 30,451
Depreciation
At 1 October 2024 2,091 5,424 7,515
Charge for the period 1,094 2,712 3,806
At 31 March 2025 3,185 8,136 11,321
Net book value
At 31 March 2025 5,570 13,560 19,130
At 30 September 2024 6,274 16,272 22,546
4 Debtors 2025 2024
£ £
Trade debtors 288,215 208,830
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1 1
Deferred tax asset 163 -
288,379 208,831
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 164,007 146,922
Taxation and social security costs 142,614 75,156
Other creditors 1,950 1,250
308,571 223,328
6 Related party transactions
The following table provides the intercompany balances with other entities in the Hi Town group.
2025 2024
£ £
From/(to) From/(to)
Hi Town Taxis Ltd (800) (3,104)
During the year, the company was charged by Hi Town Taxis Ltd for office administrative expenses
of £72,000 (2024: £136,000) and transport provisions of £4,810 (2024: £2,587).
7 Controlling party
The ultimate controlling party is Hi Town Holdings Ltd, a company registered in England and Wales with the company registration number 15162970. Its registered office is:
Unit 1a Imperial Business Park
Mortimer Road
Hereford
HR4 9SP
8 Other information
Hi Town Transport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1a Imperial Business Park
Mortimer Road
Hereford
HR4 9SP
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