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Registration number: 04264858

AB Taxis Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

J S Weeks & Co
41 St John's Street
Devizes
Wiltshire
SN10 1BL

 

AB Taxis Limited
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 Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AB Taxis Limited
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AB Taxis Limited for the year ended 31 August 2016 set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of AB Taxis Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of AB Taxis Limited and state those matters that we have agreed to state to them, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AB Taxis Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AB Taxis Limited 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 AB Taxis Limited. You consider that AB 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 accounts of AB 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 accounts.

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

J S Weeks & Co
41 St John's Street
Devizes
Wiltshire
SN10 1BL

11 May 2017

 

AB Taxis Limited
(Registration number: 04264858)
Abbreviated Balance Sheet at 31 August 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

7,235

   

9,645

 

Current assets

 

             

Debtors

 

   

1,292

   

1,294

 

Cash at bank and in hand

 

   

166

   

3,177

 
   

   

1,458

   

4,471

 

Creditors: Amounts falling due within one year

 

   

(23,711)

   

(28,261)

 

Net current liabilities

 

   

(22,253)

   

(23,790)

 

Net liabilities

 

   

(15,018)

   

(14,145)

 

Capital and reserves

 

             

Called up share capital

 

3

   

2

   

2

 

Profit and loss account

 

   

(14,068)

   

(14,147)

 

Balance sheet suspense

 

   

(952)

   

-

 

Shareholders' deficit

 

   

(15,018)

   

(14,145)

 

For the year ending 31 August 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 11 May 2017 and signed on its behalf by:

.........................................
Mrs L Charlesworth
Director

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

 

AB Taxis Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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 and fittings

25% Reducing balance

Motor vehicles

25% 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 September 2015

 

61,776

   

61,776

 

At 31 August 2016

 

61,776

   

61,776

 

Depreciation

           

At 1 September 2015

 

52,131

   

52,131

 

Charge for the year

 

2,410

   

2,410

 

At 31 August 2016

 

54,541

   

54,541

 

Net book value

           

At 31 August 2016

 

7,235

   

7,235

 

At 31 August 2015

 

9,645

   

9,645

 
 

AB Taxis Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary share of £1 each

 

2

   

2

   

2

   

2