Apple Central Taxis (SW) Limited
Apple Central Taxis (SW) Limited
Registered number: 09018290
Financial Statements
For The Year Ended
30 April 2022
Apple Central Taxis (SW) Limited
Financial Statements
For The Year Ended
30 April 2022
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Apple Central Taxis (SW) Limited
Balance Sheet
As at
30 April 2022
Balance Sheet
Registered number:
09018290
For the year ending 30 April 2022 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.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 539,387 | 572,733 | |||
Apple Central Taxis (SW) Limited
Balance Sheet (continued)
As at
30 April 2022
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
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Director
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Apple Central Taxis (SW) Limited
Notes to the Financial Statements
For The Year Ended
30 April 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below and in accordance with the Companies Act 2006.
1.2.
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.
1.3.
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 profit and loss account over its estimated economic life of 10 years.
1.4.
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:
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| Plant & Machinery |
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| Motor Vehicles |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Apple Central Taxis (SW) Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2022
1.6.
Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 42 (2021: 34)
3.
Intangible Assets
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| Net Book Value | |||
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Apple Central Taxis (SW) Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2022
4.
Tangible Assets
| Land & Property | ||||
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| Leasehold | Plant & Machinery | Motor Vehicles | Total | |
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| Depreciation | ||||
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5.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Amounts owed by related parties |
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Apple Central Taxis (SW) Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2022
6.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| Other creditors |
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| Amounts owed to related parties |
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The bank loan is secured by a fixed and floating charge on the assets of the company.
7.
Creditors: Amounts Falling Due After More Than One Year
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| Net obligations under finance lease and hire purchase contracts |
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| Other creditors |
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Finance leases are secured on the assets concerned.
9.
Other Commitments
At 30 April 2022 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £75000 (2021 - £75000).
10.
General Information
Apple Central Taxis (SW) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
09018290
. The registered office is 3-4 Isambard Parade St. Davids Hill, Exeter, EX4 4DX.