REGISTERED NUMBER: 06067866 (England and Wales)

LEEDS TAXI OWNERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2026

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

6

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,689

9,047

Investments

6

10

10

7,699

9,057

CURRENT ASSETS

Debtors

7

248,941

227,306

Cash at bank and in hand

370,747

515,516

619,688

742,822

CREDITORS

Amounts falling due within one year

8

453,356

541,927

NET CURRENT ASSETS

166,332

200,895

TOTAL ASSETS LESS CURRENT LIABILITIES

174,031

209,952

CREDITORS

Amounts falling due after more than one year

9

-

833

NET ASSETS

174,031

209,119

CAPITAL AND RESERVES

Called up share capital

10

158,000

158,000

Retained earnings

16,031

51,119

SHAREHOLDERS' FUNDS

174,031

209,119

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 25th August 2026 and were signed on its behalf by:

A P Howard - Director

M J Utting - Director

R Clarkson - Director

1.	STATUTORY INFORMATION

Leeds Taxi Owners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06067866

Registered office:

Unit 15 Ashbrooke Park

Parkside Lane

Leeds

LS11 5SF

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.

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

When the outcome of a transaction can be estimated reliably, turnover from taxi services, rent income and driver subscriptions, is recognised by reference to the number of fares completed at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill

Goodwill, being amount paid in connection with the acquisition of a business in 2008, has been amortised over its estimated useful life of 10 years, previously 20 years.The directors have chosen to reduce the useful life of goodwill as they believe this provides more reliable and relevant information due to the asset no longer expected to generate future cash flow. Therefore, goodwill was fully amortised at 31st May 2017.

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

-

over the unexpired period of the lease

Fixtures and fittings

-

15% on reducing balance

Telecoms equipment

-

15% on reducing balance and 3 years

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments

The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st June 2025

and 31st May 2026

4,340

AMORTISATION

At 1st June 2025

and 31st May 2026

4,340

NET BOOK VALUE

At 31st May 2026

-

At 31st May 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Telecoms

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1st June 2025

and 31st May 2026

16,575

47,071

193,942

257,588

DEPRECIATION

At 1st June 2025

16,575

38,024

193,942

248,541

Charge for year

-

1,358

-

1,358

At 31st May 2026

16,575

39,382

193,942

249,899

NET BOOK VALUE

At 31st May 2026

-

7,689

-

7,689

At 31st May 2025

-

9,047

-

9,047

6.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1st June 2025

and 31st May 2026

10

35,606

35,616

PROVISIONS

At 1st June 2025

and 31st May 2026

-

35,606

35,606

NET BOOK VALUE

At 31st May 2026

10

-

10

At 31st May 2025

10

-

10

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

239,912

217,694

Other debtors

9,029

9,612

248,941

227,306

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

1,474

10,000

Trade creditors

428,132

428,064

Taxation and social security

15,055

35,775

Other creditors

8,695

68,088

453,356

541,927

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

833

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

158,000

Ordinary

1.00

158,000

158,000