APPLE CENTRAL TAXIS (SW) LIMITED

APPLE CENTRAL TAXIS (SW) LIMITED

APPLE CENTRAL TAXIS (SW) LIMITED - Company Information

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APPLE CENTRAL TAXIS (SW) LIMITED

Company Registration Number:
09018290 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2018

Period of accounts

Start date: 01 May 2017

End date: 30 April 2018

APPLE CENTRAL TAXIS (SW) LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2018

Balance sheet
Notes

APPLE CENTRAL TAXIS (SW) LIMITED

Balance sheet

As at 30 April 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 3 51,400 102,800
Tangible assets: 4 99,349 100,917
Investments: 5 15,000 15,000
Total fixed assets: 165,749 218,717
Current assets
Debtors:   229,110 111,863
Cash at bank and in hand: 1,380 1,195
Total current assets: 230,490 113,058
Creditors: amounts falling due within one year:   (109,351) (90,196)
Net current assets (liabilities): 121,139 22,862
Total assets less current liabilities: 286,888 241,579
Creditors: amounts falling due after more than one year:   (162,699) (169,949)
Provision for liabilities: (5,472) (8,251)
Total net assets (liabilities): 118,717 63,379
Capital and reserves
Called up share capital: 1,002 1,002
Profit and loss account: 117,715 62,377
Shareholders funds: 118,717 63,379

The notes form part of these financial statements

APPLE CENTRAL TAXIS (SW) LIMITED

Balance sheet statements

For the year ending 30 April 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 January 2019
and signed on behalf of the board by:

Name: Iftikhar Ul-Haq
Status: Director

The notes form part of these financial statements

APPLE CENTRAL TAXIS (SW) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets and depreciation policy

Tangible fixed assets held for the company's own use are stated at cost less accumulateddepreciation and accumulated impairment losses. Depreciation is provided at rates calculatedto write off the cost of fixed assets, less their estimated residual value, over their expecteduseful lives on a reducing balance basis at 25% per annum.At each balance sheet date, the company reviews the carrying amount of its tangible fixed assetsto determine whether there is any indication that any items have suffered an impairment loss.If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Other accounting policies

GoodwillGoodwill is the difference between the fair value of the consideration given on the acquisition ofa business and the aggregate fair value of the separable net assets acquired. Amortisation is calculated to write off the cost of goodwill, over its expected useful life of 20 years.Leasing and hire purchase contractsRentals applicable to operating leases where substantially all of the benefits and risks of owner-ship remain with the lessor are charged to the profit and loss account on a straight line basis.TaxationTaxation represents the sum of tax currently payable and deferred tax. The company's liability forcurrent tax is calculated using tax rates that have been enacted or substantively enacted by the endof the reporting period. Deferred tax is recognised on all timing differences between the carryingamounts of assets and liabilities in the accounts and the corresponding tax bases used in thecomputation of taxable profit. Deferred tax assets & liabilities are measured at the tax rates that areexpected to apply in the period in which the liability is settled or asset realised, based on tax rates(and tax laws) that have been enacted or substantively enacted by the end of the reporting period.PensionsThe company operates a defined contribution pension scheme. The pension charge representsthe amounts payable by the company to the fund in respect of the year.

APPLE CENTRAL TAXIS (SW) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2018

2. Employees

2018 2017
Average number of employees during the period 22 24

APPLE CENTRAL TAXIS (SW) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2018

3. Intangible Assets

Total
Cost £
At 01 May 2017 257,000
At 30 April 2018 257,000
Amortisation
At 01 May 2017 154,200
Charge for year 51,400
At 30 April 2018 205,600
Net book value
At 30 April 2018 51,400
At 30 April 2017 102,800

APPLE CENTRAL TAXIS (SW) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2018

4. Tangible Assets

Total
Cost £
At 01 May 2017 231,201
Additions 28,362
At 30 April 2018 259,563
Depreciation
At 01 May 2017 130,284
Charge for year 29,930
At 30 April 2018 160,214
Net book value
At 30 April 2018 99,349
At 30 April 2017 100,917

APPLE CENTRAL TAXIS (SW) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2018

5. Fixed investments

The investment comprises a 50% ownership of the Gemini Taxis partnership. At 30th April 2018 the aggregate of 50% of Gemini's net assets is not believed to be less than the current balance sheet value.

APPLE CENTRAL TAXIS (SW) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2018

6. Financial commitments

At 30 April 2018 the company had total commitments under non-cancellable operatingleases over the remaining life of those leases of £73656 (2017 - £85656).