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Company registration number:
06002963
Swan Taxis Clacton Ltd
Unaudited Financial Statements for the year ended
30 November 2024
Swan Taxis Clacton Ltd
Officers and Professional Advisers
Year ended
30 November 2024
Director
Mr Micheal Shelley
Registered office
11 Rosemary Road
Clacton on Sea
Essex
CO15 1NZ
United Kingdom
Accountant
Barrie Ingram Accounts Ltd
20 Wenlock Road
London
N1 7GU
United Kingdom
Swan Taxis Clacton Ltd
Director's Report
Year ended
30 November 2024
The director presents the report and the unaudited financial statements of the company for the year ended
30 November 2024
.
Principle Activities
Principle activity of the company during the financial year was of Taxis Operational Services.

Directors

The director who served the company during the year was as follows:
Mr Micheal Shelley

Statement of director's responsibilities

The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently
- make judgements and accounting estimates that are reasonable and prudent
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and,
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.
The company is actively pursuing measures to improve its liquidity position including reduction of time given to customers to pay along with the suspension of distributions to shareholders until the negative liquidity position can be reversed. The directors are confident that these measures along with stable trading conditions will enable the company to continue trading as a going concern.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
9 July 2025
and signed on behalf of the board by:
Mr Micheal Shelley
Director
Swan Taxis Clacton Ltd
Report of the Accountant to the director of Swan Taxis Clacton Ltd
Year ended
30 November 2024
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
30 November 2024
.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Note 10 Operating Leases
This refers to, and are in fact, Finance leases.
Going Concern.
The company has experienced a period of negative liquidity, with current liabilities exceeding current assets. This creates a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. Although we offer no opinion, the director has been made aware of this position, and he addresses this further in his report.
Barrie Ingram Accounts Ltd
20 Wenlock Road
London
N1 7GU
United Kingdom
Date:
9 July 2025
Swan Taxis Clacton Ltd
Income Statement
Year ended
30 November 2024
20242023
££
Turnover
132,589
 
113,006
 
Cost of sales
(69,550
) (109,080 )
Gross profit
63,039
 
3,926
 
Distribution costs
(58,927
)
(35,047
)
Administrative expenses
(40,493
)
(26,730
)
Other operating income
63,373
 
60,424
 
Operating profit
26,992
 
2,573
 
Interest payable and similar expenses
(3,097
)
(2,284
)
Profit before tax
23,895
 
289
 
Tax on profit
(691
)
(6,263
)
Profit/(loss) for the financial year
23,204
 
(5,974
)
The company has no other recognised items of income or expense other than the results for the year as set out above.
Swan Taxis Clacton Ltd
Statement of Income and Retained Earnings
Year ended
30 November 2024
20242023
££
Retained earnings at the start of the year
(49,881
)
(43,907
)
Profit/(loss) for the financial year
23,204
 
(5,974
)
Dividends declared and paid or payable during the year
(1,500
) -  
Retained earnings at the end of the year
(28,177
)
(49,881
)
Swan Taxis Clacton Ltd
Statement of Financial Position
30 November 2024
20242023
Note££
Fixed assets    
Tangible assets 6
5,787
 
4,272
 
Current assets    
Debtors 7
3,136
 
3,500
 
Cash at bank and in hand
23,778
 
26,115
 
26,914
 
29,615
 
Creditors: amounts falling due within one year 8
(40,737
)
(59,654
)
Net current liabilities
(13,823
)
(30,039
)
Total assets less current liabilities (8,036 ) (25,767 )
Creditors: amounts falling due after more than one year 9
(20,121
)
(18,145
)
Provisions for liabilities -  
(5,949
)
Net liabilities
(28,157
)
(49,861
)
Capital and reserves    
Called up share capital
20
 
20
 
Profit and loss account
(28,177
)
(49,881
)
Shareholders deficit
(28,157
)
(49,861
)
For the 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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
9 July 2025
, and are signed on behalf of the board by:
Mr Micheal Shelley
Director
Company registration number:
06002963
Swan Taxis Clacton Ltd
Notes to the Financial Statements
Year ended
30 November 2024

1 General information

Swan Taxis Clacton Limited is a private company, limited by shares, registered in England and Wales with its registration number being 06002963. The address of the registered office is
11 Rosemary Road
,
Clacton on Sea
,
Essex
,
CO15 1NZ
, United Kingdom.
The presentation currency is £ UK sterling.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis, which assumes the company will be able to realize its assets and discharge its liabilities in the normal course of business. However, the company has experienced a period of negative liquidity, with current liabilities exceeding current assets. This creates a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. The company is actively pursuing measures to improve its liquidity position, including reduction of time given for customers to pay and the suspension of distributions to shareholders until the negative liquidity position is reversed. The directors are confident that these measures along with stable trading conditions will enable the company to continue trading as a going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% Reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Liabilities under finance leases are shown in note 10 headed Operating Leases

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
No operating leases were held by the company.

4 Profit/loss before tax

Profit/loss before tax is stated after charging/(crediting):
20242023
££
Depreciation of tangible fixed assed 1,930   52,022  
Loss on disposal of tangible fixed asset 11,500   -  

5 Average number of employees

The average number of persons employed by the company during the year was
4
(2023:
4
).

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 December 2023
402,700
 
Additions
22,995
 
Disposals
(39,570
)
At
30 November 2024
386,125
 
Depreciation  
At
1 December 2023
398,428
 
Charge
1,930
 
Disposals
(20,020
)
At
30 November 2024
380,338
 
Carrying amount  
At
30 November 2024
5,787
 
At 30 November 2023
4,272
 

7 Debtors

20242023
££
Other debtors
3,136
 
3,500
 

8 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
12,900
 
6,650
 
Other creditors
27,837
 
53,004
 
40,737
 
59,654
 

9 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
20,121
 
18,145
 

10 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
13,137
 
17,112
 
Later than 1 year and not later than 5 years
20,121
 
18,145
 
33,258
 
35,257
 
These are in fact finance leases held by the company.