1 January 2024 v2025.63.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC4136022024-01-012024-12-31SC4136022024-12-31SC4136022023-12-31SC413602core:WithinOneYear2024-12-31SC413602core:WithinOneYear2023-12-31SC413602core:AfterOneYear2024-12-31SC413602core:AfterOneYear2023-12-31SC413602core:ShareCapital2024-12-31SC413602core:ShareCapital2023-12-31SC413602core:RetainedEarningsAccumulatedLosses2024-12-31SC413602core:RetainedEarningsAccumulatedLosses2023-12-31SC413602bus:Director12024-01-012024-12-31SC413602bus:RegisteredOffice2024-01-012024-12-31SC413602core:NetGoodwill2024-01-012024-12-31SC413602core:Goodwill2024-01-012024-12-31SC413602core:PlantMachinery2024-01-012024-12-31SC413602core:OfficeEquipment2024-01-012024-12-31SC413602core:MotorVehicles2024-01-012024-12-31SC413602core:FurnitureFittings2024-01-012024-12-31SC4136022023-01-012023-12-31SC413602core:NetGoodwill2024-12-31SC413602core:NetGoodwill2024-01-01SC413602core:NetGoodwill2023-12-31SC413602core:LandBuildings2024-01-01SC413602core:PlantMachinery2024-01-01SC4136022024-01-01SC413602core:LandBuildings2024-12-31SC413602core:PlantMachinery2024-12-31SC413602core:LandBuildings2023-12-31SC413602core:PlantMachinery2023-12-31SC41360212024-01-012024-12-31SC413602countries:Scotland2024-01-012024-12-31SC413602bus:AuditExemptWithAccountantsReport2024-01-012024-12-31SC413602bus:PrivateLimitedCompanyLtd2024-01-012024-12-31SC413602bus:SmallEntities2024-01-012024-12-31SC413602bus:FullAccounts2024-01-012024-12-31
Company registration number:
SC413602
Central Taxis (North East) Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Central Taxis (North East) Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Central Taxis (North East) Limited
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
Central Taxis (North East) Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
ASG Business Services Ltd
8 School Lane
Cruden Bay
Peterhead
Aberdeenshire
AB42 0LU
United Kingdom
Date:
26 September 2025
Central Taxis (North East) Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Intangible assets 5
14,700
 
16,800
 
Tangible assets 6
1,328,337
 
1,143,711
 
1,343,037
 
1,160,511
 
Current assets    
Debtors 7
268,158
 
209,137
 
Cash at bank and in hand
14,062
 
73,266
 
282,220
 
282,403
 
Creditors: amounts falling due within one year 8
(188,191
 )
(856,821
 )
Net current assets/(liabilities)
94,029
 
(574,418
 )
Total assets less current liabilities 1,437,066   586,093  
Creditors: amounts falling due after more than one year 9
(1,577,627
 )
(737,284
 )
Net liabilities
(140,561
 )
(151,191
 )
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
(140,563
 )
(151,193
 )
Shareholders deficit
(140,561
 )
(151,191
 )
For the year ending
31 December 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 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.
These
financial statements
were approved by the board of directors and authorised for issue on
26 September 2025
, and are signed on behalf of the board by:
P Anderson
Director
Company registration number:
SC413602
Central Taxis (North East) Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
Millbank
,
Boddam
,
Peterhead
,
AB42 3AN
, Scotland.

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.

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.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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.
Amortisation 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:
Goodwill
5% straight line

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
10% - 25% straight line
Office equipment
25% straight line
Motor vehicles
25% straight line
Fixtures and fittings
25% straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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.

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.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
97
(2023:
112.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 January 2024
and
31 December 2024
42,000
 
Amortisation  
At
1 January 2024
25,200
 
Charge
2,100
 
At
31 December 2024
27,300
 
Carrying amount  
At
31 December 2024
14,700
 
At 31 December 2023
16,800
 

Intangible assets held at valuation

In respect of intangible assets other than goodwill held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
20242023
££
Aggregate historical cost 42,000   42,000  
Aggregate amortisation 27,300   25,200  
Carrying amount
14,700
 
16,800
 

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2024
95,000
 
1,992,824
 
2,087,824
 
Additions -  
508,722
 
508,722
 
Disposals -  
(245,177
 )
(245,177
 )
At
31 December 2024
95,000
 
2,256,369
 
2,351,369
 
Depreciation      
At
1 January 2024
 -  
944,113
 
944,113
 
Charge -  
234,729
 
234,729
 
Disposals -  
(155,810
 )
(155,810
 )
At
31 December 2024
 -  
1,023,032
 
1,023,032
 
Carrying amount      
At
31 December 2024
95,000
 
1,233,337
 
1,328,337
 
At 31 December 2023
95,000
 
1,048,711
 
1,143,711
 

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2024
£
Carrying value at
1 January 2024
and
31 December 2024
95,000
 

7 Debtors

20242023
££
Trade debtors
285,236
 
249,078
 
Other debtors
(17,078
 )
(39,941
 )
268,158
 
209,137
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
14,167
 
16,931
 
Trade creditors
91,354
 
42,650
 
Taxation and social security
66,752
 
790,805
 
Other creditors
15,918
 
6,435
 
188,191
 
856,821
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
660,312
 
661,170
 
Other creditors
917,315
 
76,114
 
1,577,627
 
737,284
 

10 Other Creditors: Loan from Director £917k no interest charges, no time limit for repayment