REGISTERED NUMBER: 06122964 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2017

for

Abbey Taxis (Swindon) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Murray

REGISTERED OFFICE:

38-42 Newport Street

Swindon

Wiltshire

SN1 3DR

REGISTERED NUMBER:

06122964 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

4,200

Tangible assets

5

91,972

84,851

91,972

89,051

CURRENT ASSETS

Debtors

6

6,316

2,824

Cash at bank

68,665

20,685

74,981

23,509

CREDITORS

Amounts falling due within one year

7

36,518

22,805

NET CURRENT ASSETS

38,463

704

TOTAL ASSETS LESS CURRENT LIABILITIES

130,435

89,755

PROVISIONS FOR LIABILITIES

12,778

12,295

NET ASSETS

117,657

77,460

CAPITAL AND RESERVES

Called up share capital

90

90

Capital redemption reserve

10

10

Retained earnings

117,557

77,360

SHAREHOLDERS' FUNDS

117,657

77,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 5 December 2017 and were signed by:

S Murray - Director

1.	STATUTORY INFORMATION

Abbey Taxis (Swindon) Limited 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 represents income due on contract taxi services provided during the period, excluding value added tax. Income

represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded

at the fair value of the consideration received or receivable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten 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.

Improvements to property

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the

original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

The effect of any changes is accounted for prospectively.

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the

difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Taxation

Taxation for the year 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 year 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.

Financial assets and liabilities

Basic financial assets, include trade and other receivables, cash and bank balances. Basic financial liabilities, include trade

and other payables. These items are included in the balance sheet at their transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2016 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2016

and 31 August 2017

72,000

AMORTISATION

At 1 September 2016

67,800

Charge for year

4,200

At 31 August 2017

72,000

NET BOOK VALUE

At 31 August 2017

-

At 31 August 2016

4,200

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 September 2016

600

843

196,264

197,707

Additions

-

-

71,780

71,780

Disposals

-

-

(72,864

)

(72,864

)

At 31 August 2017

600

843

195,180

196,623

DEPRECIATION

At 1 September 2016

90

785

111,981

112,856

Charge for year

77

14

30,501

30,592

Eliminated on disposal

-

-

(38,797

)

(38,797

)

At 31 August 2017

167

799

103,685

104,651

NET BOOK VALUE

At 31 August 2017

433

44

91,495

91,972

At 31 August 2016

510

58

84,283

84,851

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,316

2,824

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Tax

17,410

5,493

Social security and other taxes

16,026

15,312

Accrued expenses

3,082

2,000

36,518

22,805

8.	FIRST YEAR ADOPTION

There are no transitional adjustments arising from the adoption of Financial Reporting Standard 102 Section 1A.