Registered number
09625533
COALVILLE CABS LIMITED
Filleted Accounts
30 September 2024
COALVILLE CABS LIMITED
Registered number: 09625533
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 77,528 44,391
Current assets
Debtors 4 1,397,509 1,317,582
Cash at bank and in hand 15,413 12,540
1,412,922 1,330,122
Creditors: amounts falling due within one year 5 (1,168,046) (1,086,423)
Net current assets 244,876 243,699
Total assets less current liabilities 322,404 288,090
Creditors: amounts falling due after more than one year 6 (61,510) (73,811)
Net assets 260,894 214,279
Capital and reserves
Called up share capital 2 2
Profit and loss account 260,892 214,277
Shareholders' funds 260,894 214,279
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.
David Underwood
Director
Approved by the board on 27 June 2025
COALVILLE CABS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 15% on reducing balance
Motor vehicles 15% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 28 28
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 12,622 86,510 99,132
Additions - 46,818 46,818
At 30 September 2024 12,622 133,328 145,950
Depreciation
At 1 October 2023 10,014 44,727 54,741
Charge for the year 391 13,290 13,681
At 30 September 2024 10,405 58,017 68,422
Net book value
At 30 September 2024 2,217 75,311 77,528
At 30 September 2023 2,608 41,783 44,391
4 Debtors 2024 2023
£ £
Trade debtors 940,002 863,575
Other debtors 457,507 454,007
1,397,509 1,317,582
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 51,153
Trade creditors 987,396 781,826
Taxation and social security costs 107,616 237,737
Other creditors 73,034 15,707
1,168,046 1,086,423
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 52,347 73,811
Obligations under finance lease and hire purchase contracts 9,163 -
61,510 73,811
7 Controlling party
The company is controlled by D Underwood and the 100% of the called up share capital is owned by DG Private Hire Holdings LTD.
8 Other information
COALVILLE CABS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ
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