Taunton Minibuses Ltd - Filleted accounts

Registered number

06192376

Taunton Minibuses Ltd

Filleted Accounts

31 March 2025

Taunton Minibuses Ltd
Registered number:		06192376
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		165,126			173,636

Current assets
Debtors	5	118,266			106,912
Cash at bank and in hand		21,439			76,322
		139,705			183,234

Creditors: amounts falling due within one year	6	(84,538)			(91,271)

Net current assets			55,167			91,963

Total assets less current liabilities			220,293			265,599

Creditors: amounts falling due after more than one year	7		(2,250)			(11,250)

Provisions for liabilities			(36,285)			(40,315)


Net assets			181,758			214,034

Capital and reserves
Called up share capital			100			100
Profit and loss account			181,658			213,934

Shareholders' funds			181,758			214,034

The director is 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 director acknowledges his 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.




Matthew Armstrong
Director
Approved by the board on 8 December 2025

Taunton Minibuses Ltd
Notes to the Accounts
for the year ended 31 March 2025


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 (as applied to small entities by section 1A of the standard).

	Government Grants
	Government grants are recognised in accordance with the accrual model set out in FRS102.

	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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Plant and machinery			25% written down value
	Motor vehicles			25% written down value
	Leasehold improvements			3% straight line

	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.

	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					2025		2024
Number							Number

	Average number of persons employed by the company					16		18


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2024							25,000
	At 31 March 2025							25,000

	Amortisation
	At 1 April 2024							25,000
	At 31 March 2025							25,000

	Net book value
	At 31 March 2025							-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Leasehold Improvements		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	3,070		16,371		317,551		336,992
	Additions	7,322		3,693		24,500		35,515
	Disposals	-		-		(7,995)		(7,995)
	At 31 March 2025	10,392		20,064		334,056		364,512

	Depreciation
	At 1 April 2024	92		7,182		156,082		163,356
	Charge for the year	308		2,799		33,922		37,029
	On disposals	-		-		(999)		(999)
	At 31 March 2025	400		9,981		189,005		199,386

	Net book value
	At 31 March 2025	9,992		10,083		145,051		165,126
	At 31 March 2024	2,978		9,189		161,469		173,636


5	Debtors					2025		2024
£							£

	Trade debtors					64,282		75,601
	Other debtors					53,984		31,311
						118,266		106,912


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					9,000		9,000
	Trade creditors					31,580		15,818
	Taxation and social security costs					34,690		36,334
	Other creditors					9,268		30,119
						84,538		91,271


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					2,250		11,250


8	Related party transactions

	During the year the company paid a dividend of £114000 to the director Mr Matthew Armstrong. Director’s Loan Account At the balance sheet date, the director’s loan account was overdrawn. The loan was fully repaid within 9 months of the year-end. Interest was charged on the outstanding balance at a rate of 4% per annum, in line with HMRC’s official rate of interest. No Section 455 Corporation Tax liability arose.


9	Controlling party

	The company is under the ultimate control of Mr Matthew Armstrong, the sole director and majority shareholder.

10	All asset debenture

	On 7th November 2011 the company executed an All Assets Debenture with Lloyds TSB Commercial Finance Limited by a fixed and floating charge over the undertaking in respect of all monies due or to become due from the company to Lloyds TSB Commercial Finance Limited on any account whatsoever.

11	Other information

	Taunton Minibuses Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	5a Bath Place
	Taunton
	Somerset
	TA1 1RZ