REGISTERED NUMBER: SC329663 (Scotland)

Lossie Taxis Limited

Financial Statements For The Year Ended 31 August 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Devine

REGISTERED OFFICE:

4 North Guildry Street

Elgin

Moray

IV30 1JR

REGISTERED NUMBER:

SC329663 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Royal Bank of Scotland

209 High Street

Elgin

Moray

IV30 1DL

FIXED ASSETS

Tangible assets

4

76,931

43,013

CURRENT ASSETS

Debtors

5

11,301

12,005

Cash at bank

5,956

5,447

17,257

17,452

CREDITORS

Amounts falling due within one year

6

29,591

27,510

NET CURRENT LIABILITIES

(12,334

)

(10,058

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,597

32,955

CREDITORS

Amounts falling due after more than one year

7

(60,206

)

(30,626

)

PROVISIONS FOR LIABILITIES

8

(4,080

)

(2,165

)

NET ASSETS

311

164

CAPITAL AND RESERVES

Called up share capital

9

102

102

Retained earnings

10

209

62

SHAREHOLDERS' FUNDS

311

164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 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 11 November 2025 and were signed by:

Mr A Devine - Director

1.	STATUTORY INFORMATION

Lossie Taxis 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 September 2024

84,438

Additions

49,312

Disposals

(18,000

)

At 31 August 2025

115,750

DEPRECIATION

At 1 September 2024

41,425

Charge for year

12,190

Eliminated on disposal

(14,796

)

At 31 August 2025

38,819

NET BOOK VALUE

At 31 August 2025

76,931

At 31 August 2024

43,013

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

106

461

Other debtors

11,195

11,544

11,301

12,005

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

1,650

2,166

Hire purchase contracts

14,139

5,571

Trade creditors

2,245

4,662

Taxation and social security

5,862

8,527

Other creditors

5,695

6,584

29,591

27,510

Hire purchase contracts include amounts totalling £14,139 (2024 - £5,571) under hire purchase agreements which are secured against the assets to which they relate.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans

-

1,639

Hire purchase contracts

60,206

28,987

60,206

30,626

Hire purchase contracts include amounts totalling £60,206 (2024 - £28,987) under hire purchase agreements which are secured against the assets to which they relate to.

8.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

£

Deferred tax

4,080

2,165

Deferred

tax

£

Balance at 1 September 2024

2,165

Provided during year

1,915

Balance at 31 August 2025

4,080

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.25

31.8.24

value:

£

£

102

Ordinary

1

102

102

10.

RESERVES

Retained

earnings

£

At 1 September 2024

62

Profit for the year

6,647

Dividends

(6,500

)

At 31 August 2025

209

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £6,500 (2024 - £19,500) were paid to the director .

At 31 August 2024 the director owed the company £6,036. During the year the company met expenses on behalf of the director totalling £2,367. At 31 August 2025 the director owed the company £8,403. This loan is interest free and has no fixed repayment terms.