REGISTERED NUMBER: SC062108 (Scotland)

Financial Statements

for the Year Ended 31 December 2024

for

Clydebank and District Taxi Owners

Association Radio System Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

G Campbell

REGISTERED OFFICE:

Unit 7 Telford Court

Clydebank Business Park

9 South Avenue

Clydebank

G81 2NR

REGISTERED NUMBER:

SC062108 (Scotland)

ACCOUNTANTS:

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

FIXED ASSETS

Intangible assets

4

38,531

8,400

Tangible assets

5

174,891

213,318

213,422

221,718

CURRENT ASSETS

Debtors

6

523,393

466,062

Cash at bank

43,008

48,549

566,401

514,611

CREDITORS

Amounts falling due within one year

7

574,640

523,489

NET CURRENT LIABILITIES

(8,239

)

(8,878

)

TOTAL ASSETS LESS CURRENT LIABILITIES

205,183

212,840

CREDITORS

Amounts falling due after more than one year

8

4,409

29,362

NET ASSETS

200,774

183,478

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Retained earnings

185,774

168,478

SHAREHOLDERS' FUNDS

200,774

183,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2025 and were signed by:

G Campbell - Director

1.	STATUTORY INFORMATION

Clydebank and District Taxi Owners Association Radio System Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.

Revenue is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on use of the service; 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.

Intangible assets

Licence expenditure is capitalised where there is expected to be a benefit to future periods; the company able to demonstrate revenue from the licence; and the expenditure attributable can be reliably measured.

Capitalised licence expenditure is stated at cost less accumulated amortisation and impairment losses and amortised over its useful economic life. The assessment of useful economic life is 7 years.

Tangible fixed assets

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over their expected useful lives as follows:

Land and buildings - 10% reducing balance

Plant and machinery - 10% reducing balance

Motor Vehicles - 20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of significant change since the last reporting date.

Taxation

The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Hire purchase and leasing commitments

Assets held under finance lease and hire purchase contracts 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. 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.

Operating lease payments are recognised as an expense on a straightline basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. The assets of the plan are held separately from the company in independently administered funds.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

205,350

Additions

35,000

At 31 December 2024

240,350

AMORTISATION

At 1 January 2024

196,950

Charge for year

4,869

At 31 December 2024

201,819

NET BOOK VALUE

At 31 December 2024

38,531

At 31 December 2023

8,400

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

95,248

689,564

784,812

Additions

950

-

950

At 31 December 2024

96,198

689,564

785,762

DEPRECIATION

At 1 January 2024

61,757

509,737

571,494

Charge for year

3,412

35,965

39,377

At 31 December 2024

65,169

545,702

610,871

NET BOOK VALUE

At 31 December 2024

31,029

143,862

174,891

At 31 December 2023

33,491

179,827

213,318

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

189,219

Transfer to ownership

(38,014

)

At 31 December 2024

151,205

DEPRECIATION

At 1 January 2024

110,382

Charge for year

13,153

Transfer to ownership

(24,941

)

At 31 December 2024

98,594

NET BOOK VALUE

At 31 December 2024

52,611

At 31 December 2023

78,837

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

132,389

78,374

Other debtors

391,004

387,688

523,393

466,062

Included within other debtors is a deferred tax asset of £19,803 which is due in more than one year (2023 - £18,612).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,397

10,140

Hire purchase contracts

14,564

33,494

Trade creditors

23,143

10,505

Taxation and social security

32,064

28,428

Other creditors

494,472

440,922

574,640

523,489

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,409

14,806

Hire purchase contracts

-

14,556

4,409

29,362

9.	SECURED DEBTS

The bank has a bond and floating charge over the assets of the company.

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of Bayfleet Limited who own 100% of the issued share capital. Bayfleet Limited is under the control of Mr J. Easdale who is therefore the ultimate controlling party.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clydebank and District Taxi Owners Association Radio System Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Clydebank and District Taxi Owners Association Radio System Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Clydebank and District Taxi Owners Association Radio System Limited and state those matters that we have agreed to state to the director of Clydebank and District Taxi Owners Association Radio System Limited in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Clydebank and District Taxi Owners Association Radio System Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Clydebank and District Taxi Owners Association Radio System Limited. You consider that Clydebank and District Taxi Owners Association Radio System 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 financial statements of Clydebank and District Taxi Owners Association Radio System 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 financial statements.

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

17 September 2025