Tees Valley Cabs Ltd - Period Ending 2016-07-31

Registration number: 05502635

Tees Valley Cabs Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Moncur Reece Ltd
Chartered Certified Accountants
242 Marton Road
Middlesbrough
Cleveland
TS4 2EZ

Tees Valley Cabs Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tees Valley Cabs Ltd
for the Year Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tees Valley Cabs Ltd for the year ended 31 July 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Tees Valley Cabs Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tees Valley Cabs Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tees Valley Cabs Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tees Valley Cabs Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tees Valley Cabs Ltd. You consider that Tees Valley Cabs Ltd 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 accounts of Tees Valley Cabs Ltd. 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 accounts.

......................................

Moncur Reece Ltd
Chartered Certified Accountants
242 Marton Road
Middlesbrough
Cleveland
TS4 2EZ

16 April 2017

Page 1

Tees Valley Cabs Ltd
(Registration number: 05502635)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					19,785			23,276
Current assets
Cash at bank and in hand					21,112			12,087
Creditors: Amounts falling due within one year					(10,056)			(6,520)
Net current assets					11,056			5,567
Net assets					30,841			28,843
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					30,839			28,841
Shareholders' funds					30,841			28,843

For the year ending 31 July 2016 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 16 April 2017 and signed on its behalf by:

.........................................
Mohammed Maroof
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Tees Valley Cabs Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures Fittings	15% Reducing Balance
Motor Vehicles	15% Reducing Balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		64,600			64,600
At 31 July 2016		64,600			64,600
Depreciation
At 1 August 2015		41,324			41,324
Charge for the year		3,491			3,491
At 31 July 2016		44,815			44,815
Net book value
At 31 July 2016		19,785			19,785
At 31 July 2015		23,276			23,276

Page 3

Tees Valley Cabs Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 4