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Registration number: 07851476

Taxi Services (Plymouth) Limited
Unaudited Filleted Financial Statements
30 November 2025

Taxi Services (Plymouth) Limited

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 9

Taxi Services (Plymouth) Limited

(Registration number: 07851476)
Statement of Financial Position as at 30 November 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 182,998 | 222,196
Tangible assets | 5 | 1,191,249 | 844,732
|  | 1,374,247 | 1,066,928
Current assets |  |  |
Debtors | 6 | 305,830 | 255,269
Cash at bank and in hand |  | 228,187 | 234,555
|  | 534,017 | 489,824
Creditors: Amounts falling due within one year | 7 | (619,101) | (501,009)
Net current liabilities |  | (85,084) | (11,185)
Total assets less current liabilities |  | 1,289,163 | 1,055,743
Creditors: Amounts falling due after more than one year | 7 | (777,907) | (601,386)
Net assets |  | 511,256 | 454,357
Capital and reserves |  |  |
Called up share capital |  | 20 | 20
Profit and loss account |  | 511,236 | 454,337
Shareholders' funds |  | 511,256 | 454,357

Taxi Services (Plymouth) Limited

(Registration number: 07851476)
Statement of Financial Position as at 30 November 2025 (continued)

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 7 May 2026 and signed on its behalf by:

Mr D H McIntosh Director
Mr H D Isaac Director

Taxi Services (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is Needacab247,44a Devonport Rd, Stoke, Plymouth, Devon, PL3 4DH.

Principal activity

The principal activity of the company is is that of the provision of taxi services.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Taxi Services (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

2 | Accounting policies (continued)

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to
the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Taxi Services (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

2 | Accounting policies (continued)

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new
estimates.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 20).

Taxi Services (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 December 2024 | 671,978 | 671,978
Additions | 30,000 | 30,000
At 30 November 2025 | 701,978 | 701,978
Amortisation
At 1 December 2024 | 449,782 | 449,782
Amortisation charge | 69,198 | 69,198
At 30 November 2025 | 518,980 | 518,980
Carrying amount
At 30 November 2025 | 182,998 | 182,998
At 30 November 2024 | 222,196 | 222,196

5 | Tangible assets

| Land and buildings £ | Short leasehold land and buildings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 December 2024 | 199,622 | - | 113,035 | 929,079 | 1,241,736
Additions | - | 5,400 | 8,716 | 688,116 | 702,232
Disposals | - | - | (1,400) | (65,634) | (67,034)
At 30 November 2025 | 199,622 | 5,400 | 120,351 | 1,551,561 | 1,876,934
Depreciation
At 1 December 2024 | - | - | 84,785 | 312,219 | 397,004
Charge for the year | - | 2,250 | 7,755 | 315,041 | 325,046
Eliminated on disposal | - | - | (810) | (35,555) | (36,365)
At 30 November 2025 | - | 2,250 | 91,730 | 591,705 | 685,685
Carrying amount
At 30 November 2025 | 199,622 | 3,150 | 28,621 | 959,856 | 1,191,249
At 30 November 2024 | 199,622 | - | 28,250 | 616,860 | 844,732

Taxi Services (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

5 | Tangible assets (continued)

The net carrying value of tangible fixed assets includes the following in respect of assets held under hire purchase agreements £957,449 (2024: £602,955).

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 250,024 | 219,532
Other debtors | 700 | -
Prepayments | 8,657 | 2,597
Deferred tax assets | 46,449 | 33,140
| 305,830 | 255,269

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Loans and borrowings | 45,987 | 68,315
Taxation and social security | 197,279 | 149,397
Accruals and deferred income | 3,559 | 3,992
Other creditors | 372,276 | 279,305
| 619,101 | 501,009

The bank loans are secured. Other creditors contain hire purchase liabilities of £290,803 (2024: £162,307) which are secured over the assets to which they relate. The CBILS loan benefits from a government guarantee.
The amount owed in respect of factored receivables was £66,865 (2024: £80,921).

Taxi Services (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

7 | Creditors (continued)

Creditors: amounts falling due after more than one year

| 2025 £ | 2024 £
Bank borrowings | 88,476 | 126,567
HP and finance lease liabilities | 689,431 | 474,819
| 777,907 | 601,386

The bank loans are secured. The HP and finance lease liabilities of £689,431 (2024: £474,819) which are secured over the assets to which they relate. The CBILS loan benefits from a government guarantee.
The bank loans are secured and are charged interest at 4.5%. The loan is due to be paid within 8 years.

8 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

9 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 4,900 | -

The amount of non-cancellable operating lease payments recognised as an expense during the year was £3,500 (2024 - £Nil).

Taxi Services (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

10 | Directors advances, credits and guarantees

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.

2025 | At 1 December 2024 £ | Advances to director £ | Repayments by director £ | At 30 November 2025 £
Directors | (28,068) | 22,575 | - | (5,493)

2024 | At 1 December 2023 £ | Advances to director £ | Repayments by director £ | At 30 November 2024 £
Directors | (41,916) | 15,000 | (1,152) | (28,068)