Prestige Taxis Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07812537 (England and Wales)

Unaudited Financial Statements

for the Period 1 November 2016 to 30 April 2018

for

Prestige Taxis Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Dunn

REGISTERED OFFICE:

4A Victoria Road

Concord

Washington

Tyne and Wear

NE37 2SY

REGISTERED NUMBER:

07812537 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

25,961

-

25,961

CURRENT ASSETS

Cash at bank and in hand

-

76,097

CREDITORS

Amounts falling due within one year

6

77,266

150,270

NET CURRENT LIABILITIES

(77,266

)

(74,173

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(77,266

)

(48,212

)

CREDITORS

Amounts falling due after more than one year

7

-

27,931

NET LIABILITIES

(77,266

)

(76,143

)

CAPITAL AND RESERVES

Called up share capital

40

40

Retained earnings

(77,306

)

(76,183

)

SHAREHOLDERS' FUNDS

(77,266

)

(76,143

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 January 2019 and were signed by:

S Dunn - Director

1.	STATUTORY INFORMATION

Prestige Taxis Ltd is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 2011, is being amortised evenly over its estimated useful life of five 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.

Plant and machinery etc

-

25% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 30 April 2018

160,000

AMORTISATION

At 1 November 2016

and 30 April 2018

160,000

NET BOOK VALUE

At 30 April 2018

-

At 31 October 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

36,998

Disposals

(12,261

)

At 30 April 2018

24,737

DEPRECIATION

At 1 November 2016

11,037

Charge for period

13,700

At 30 April 2018

24,737

NET BOOK VALUE

At 30 April 2018

-

At 31 October 2016

25,961

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

31.10.16

£

£

Bank loans and overdrafts

-

6,087

Taxation and social security

-

22,626

Other creditors

77,266

121,557

77,266

150,270

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

31.10.16

£

£

Bank loans

-

27,931

30.4.18

31.10.16

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

(5,216

)