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Registered number: 04280314
1st Choice Taxis Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Brendan P Byrne & Co Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 04280314
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 66,488 61,382
66,488 61,382
CURRENT ASSETS
Debtors 6 13,835 8,875
Cash at bank and in hand 953 3,413
14,788 12,288
Creditors: Amounts Falling Due Within One Year 7 (72,755 ) (42,862 )
NET CURRENT ASSETS (LIABILITIES) (57,967 ) (30,574 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,521 30,808
NET ASSETS 8,521 30,808
CAPITAL AND RESERVES
Called up share capital 8 12 12
Profit and Loss Account 8,509 30,796
SHAREHOLDERS' FUNDS 8,521 30,808
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Louis Ripley
Director
30th December 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
1st Choice Taxis Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04280314 . The registered office is The Coach House Shipley Hills Road, Meopham, Gravesend, Kent, DA13 0JP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation applied
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 15,550
As at 31 March 2025 15,550
Amortisation
As at 1 April 2024 15,550
As at 31 March 2025 15,550
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
Page 2
Page 3
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2024 39,268 1,682 228,041 11,615 280,606
Additions - - 10,495 - 10,495
As at 31 March 2025 39,268 1,682 238,536 11,615 291,101
Depreciation
As at 1 April 2024 - 1,682 207,331 10,211 219,224
Provided during the period - - 5,178 211 5,389
As at 31 March 2025 - 1,682 212,509 10,422 224,613
Net Book Value
As at 31 March 2025 39,268 - 26,027 1,193 66,488
As at 1 April 2024 39,268 - 20,710 1,404 61,382
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 13,530 8,559
Other debtors 305 316
13,835 8,875
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 16,141 16,814
Other creditors 46,904 19,207
Taxation and social security 9,710 6,841
72,755 42,862
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 12 12
Page 3