REGISTERED NUMBER: SC286801 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Classy Taxis Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs F M Simpson

Mr J L Ferguson

REGISTERED OFFICE:

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

REGISTERED NUMBER:

SC286801 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Tangible assets

4

402,364

391,020

CURRENT ASSETS

Stocks

8,000

5,000

Debtors

5

87,678

82,136

Cash at bank

95,872

81,626

191,550

168,762

CREDITORS

Amounts falling due within one year

6

83,435

59,362

NET CURRENT ASSETS

108,115

109,400

TOTAL ASSETS LESS CURRENT LIABILITIES

510,479

500,420

CREDITORS

Amounts falling due after more than one year

7

(2,083

)

(20,301

)

PROVISIONS FOR LIABILITIES

(49,127

)

(52,131

)

NET ASSETS

459,269

427,988

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

449,269

417,988

SHAREHOLDERS' FUNDS

459,269

427,988

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

Mrs F M Simpson - Director

1.	STATUTORY INFORMATION

Classy Taxis Ltd. 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 represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Office log cabin

-

10% on cost

Plant and machinery

-

25% on reducing balance and 25% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Plant and machinery is depreciated at a rate of 25% reducing balance and straight line dependent upon the nature of the item.

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Capital grants

Funding received by way of grants provided for the purpose of the acquisition of fixed assets is deferred in the Balance Sheet and released to the profit & loss account at the same rate as the depreciation charged on the related asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Office

Plant and

property

log cabin

machinery

£

£

£

COST

At 1 April 2024

126,356

-

71,977

Additions

-

7,687

6,427

Disposals

-

-

(9,152

)

At 31 March 2025

126,356

7,687

69,252

DEPRECIATION

At 1 April 2024

12,636

-

45,821

Charge for year

2,527

769

7,647

Eliminated on disposal

-

-

(6,699

)

At 31 March 2025

15,163

769

46,769

NET BOOK VALUE

At 31 March 2025

111,193

6,918

22,483

At 31 March 2024

113,720

-

26,156

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

-

519,177

1,263

718,773

Additions

3,751

91,150

137

109,152

Disposals

-

(41,050

)

-

(50,202

)

At 31 March 2025

3,751

569,277

1,400

777,723

DEPRECIATION

At 1 April 2024

-

268,980

316

327,753

Charge for year

750

79,012

350

91,055

Eliminated on disposal

-

(36,750

)

-

(43,449

)

At 31 March 2025

750

311,242

666

375,359

NET BOOK VALUE

At 31 March 2025

3,001

258,035

734

402,364

At 31 March 2024

-

250,197

947

391,020

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

70,000

DEPRECIATION

At 1 April 2024

25,188

Charge for year

11,203

At 31 March 2025

36,391

NET BOOK VALUE

At 31 March 2025

33,609

At 31 March 2024

44,812

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

70,481

66,732

Other debtors

-

126

VAT

9,261

8,325

Prepayments

7,936

6,953

87,678

82,136

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

17,500

17,500

Trade creditors

7,348

5,380

Tax

9,685

15,110

Social security and other taxes

2,627

4,867

Other creditors

377

145

Directors' current accounts

6,141

12,940

Directors' loan accounts

36,528

-

Accrued expenses

3,229

3,420

83,435

59,362

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

2,083

18,750

Deferred government grants

-

1,551

2,083

20,301

8.	SECURED DEBTS

The Bank of Scotland hold a bond and floating charge in respect of credit facilities provided.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who between them own 100% of the issued share capital.