Registered number
05573981
iChauffeur Limited
Report and Accounts
31 December 2024
iChauffeur Limited
Registered number: 05573981
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 36,784 40,909
Current assets
Debtors 4 175,383 164,116
Cash at bank and in hand 189,975 271,600
365,358 435,716
Creditors: amounts falling due within one year 5 (227,917) (290,021)
Net current assets 137,441 145,695
Total assets less current liabilities 174,225 186,604
Creditors: amounts falling due after more than one year 6 - (22,871)
Net assets 174,225 163,733
Capital and reserves
Called up share capital 70 70
Share premium 30 30
Profit and loss account 174,125 163,633
Shareholders' funds 174,225 163,733
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.
W Senior
Director
Approved by the board on 5 November 2025
iChauffeur Limited
Notes to the Accounts
for the year ended 31 December 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.
Going concern
We have paid particular attention to the likely effects on the business of the current Covid-19 outbreak and the directors remain confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the forseeable future.
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 rendering of services. 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:
Leasehold property improvements over the lease term
Motor vehicles over 3 years
Fixtures, fittings and equipment 25% p.a. Reducing balance basis
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Leasehold property Fixtures, fittings & equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 13,244 96,691 48,075 158,010
Additions - 2,136 - 2,136
At 31 December 2024 13,244 98,827 48,075 160,146
Depreciation
At 1 January 2024 13,244 77,781 26,076 117,101
Charge for the year - 5,261 1,000 6,261
At 31 December 2024 13,244 83,042 27,076 123,362
Net book value
At 31 December 2024 - 15,785 20,999 36,784
At 31 December 2023 - 18,910 21,999 40,909
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
4 Debtors 2024 2023
£ £
Trade debtors 124,554 150,049
Amounts due from related parties 27,962 5,304
Deferred tax asset 2,661 2,258
Other debtors 20,206 6,505
175,383 164,116
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 16,363
Trade creditors 65,553 59,918
Payments received on account - 27,800
Corporation tax 35,000 61,000
Other taxes and social security costs 82,939 86,557
Other creditors 44,425 38,383
227,917 290,021
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 22,871
7 Other information
iChauffeur Limited is a private company limited by shares and incorporated in England. Its registered office is:
137 Station Road
Hampton
Middlesex
TW12 2AL
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