REGISTERED NUMBER: SC213434 (Scotland)

Unaudited Financial Statements for the Year Ended 31st March 2026

for

Inverness City Taxis Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Directors:

K W Clark

J M Fraser

Registered office:

Unit 2

7 Canal Road

Inverness

IV3 8NF

Registered number:

SC213434 (Scotland)

Accountants:

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

Inverness-shire

IV1 1HT

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Inverness City Taxis Limited for the year ended 31st March 2026 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Inverness City Taxis Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inverness City Taxis Limited and state those matters that we have agreed to state to the Board of Directors of Inverness City Taxis Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Inverness City Taxis Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Inverness City Taxis Limited. You consider that Inverness City Taxis Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Inverness City Taxis Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

Inverness-shire

IV1 1HT

28th July 2026

Fixed assets

Intangible assets

4

-

4,344

Tangible assets

5

19,068

23,055

19,068

27,399

Current assets

Debtors

6

782

3,417

Cash at bank

2,776

7,179

3,558

10,596

Creditors

Amounts falling due within one year

7

97,770

73,588

Net current liabilities

(94,212

)

(62,992

)

Total assets less current liabilities

(75,144

)

(35,593

)

Provisions for liabilities

4,606

5,764

Net liabilities

(79,750

)

(41,357

)

Capital and reserves

Called up share capital

100

100

Retained earnings

(79,850

)

(41,457

)

(79,750

)

(41,357

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 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 28th July 2026 and were signed on its behalf by:

K W Clark - Director

1.	Statutory information

Inverness City 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

Straight line over 5 years

Fixtures and fittings

-

15-33% on reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fair value

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3.	Employees and directors

The average number of employees during the year was 12 (2025 - 11 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st April 2025

and 31st March 2026

43,440

Amortisation

At 1st April 2025

39,096

Charge for year

4,344

At 31st March 2026

43,440

Net book value

At 31st March 2026

-

At 31st March 2025

4,344

5.	Tangible fixed assets

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

Cost

At 1st April 2025

10,673

65,803

76,476

Additions

-

365

365

At 31st March 2026

10,673

66,168

76,841

Depreciation

At 1st April 2025

5,074

48,347

53,421

Charge for year

534

3,818

4,352

At 31st March 2026

5,608

52,165

57,773

Net book value

At 31st March 2026

5,065

14,003

19,068

At 31st March 2025

5,599

17,456

23,055

6.

Debtors: amounts falling due within one year

2026

2025

£

£

Trade debtors

30

3,417

Other debtors

752

-

782

3,417

7.

Creditors: amounts falling due within one year

2026

2025

£

£

Trade creditors

23,724

4,794

Taxation and social security

15,687

16,942

Other creditors

58,359

51,852

97,770

73,588