A13 Taxis Limited 31/10/2017 iXBRL
A13 Taxis Limited 31/10/2017 iXBRL
Statement of consent to prepare abridged financial statements
Company registration number:
07795388
Unaudited filleted abridged financial statements
Contents
Directors and other information
Directors report
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Directors and other information
Directors |
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Company number |
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Registered office |
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Business address |
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Accountants |
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We Work | ||
1 Primrose street | ||
City of London | ||
London | ||
EC2A 2EX | ||
Bankers |
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Beckton Branch | ||
15 Mary Rose Mall | ||
Frobisher Road, Beckton | ||
London E6 5ZZ | ||
Directors report
Year ended 31 October 2017
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2017.
Directors
The directors who served the company during the year were as follows:
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Small company provisions
This report was approved by the board of directors on
25 July 2018
and signed on behalf of the board by:
Director
Report to the board of directors on the preparation of the
unaudited statutory financial statements of A13 Taxis Limited
Year ended 31 October 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A13 Taxis Limited for the year ended 31 October 2017 which comprise the abridged statement of financial position, statement of changes in equity and related notes 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 A13 Taxis Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of A13 Taxis Limited and state those matters that we have agreed to state to the board of directors of A13 Taxis Limited 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 A13 Taxis Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that A13 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 A13 Taxis Limited. You consider that A13 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 A13 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.
Chartered Certified Accountants
We Work
1 Primrose street
City of London
London
EC2A 2EX
25 July 2018
Abridged statement of financial position
31 October 2017
2017 | 2016 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year |
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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 |
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Net liabilities |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders deficit |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
25 July 2018
, and are signed on behalf of the board by:
Director
Company registration number:
07795388
Statement of changes in equity
Year ended 31 October 2017
Called up share capital | Profit and loss account | Total | |||
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At 1 November 2015 |
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Loss for the year |
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Total comprehensive income for the year | - |
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At 31 October 2016 and 1 November 2016 |
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Loss for the year |
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Total comprehensive income for the year | - |
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At 31 October 2017 |
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Notes to the financial statements
Year ended 31 October 2017
1.
General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is We Work , Office 44, 1 Primrose street, City of London, London, EC2A 2EX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 November 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
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:
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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2016:
2
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5.
Tangible assets
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Cost | ||
At 1 November 2016 and 31 October 2017 |
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Depreciation | ||
At 1 November 2016 |
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Charge for the year |
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At 31 October 2017 |
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Carrying amount | ||
At 31 October 2017 |
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At 31 October 2016 |
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6.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | ||||
2017 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
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2016 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
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The director has made a further advance to the company of £18,350. The terms of the loan allow the director the right of interest at his discretion. The loan is unsecured and repayment date has been left to the director's discretion.
7.
Controlling party
The company is controlled by Mr. Francois John Magri who is the sole shareholder and director of the company.
8.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 November 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.