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REGISTERED NUMBER: 06577881 (England and Wales)
















ABC Taxis (Stevenage) Limited

Unaudited Financial Statements For The Year Ended 30 April 2017






ABC Taxis (Stevenage) Limited (Registered number: 06577881)







Contents of the Financial Statements

For The Year Ended 30 April 2017





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4




ABC Taxis (Stevenage) Limited


Company Information

For The Year Ended 30 April 2017









DIRECTORS:

Mr P Barrett


Mr J Quinn







REGISTERED OFFICE:

Building 15, Gateway 1000


Arlington Business Park


Stevenage


Hertfordshire


SG1 2FP







REGISTERED NUMBER:

06577881 (England and Wales)


ABC Taxis (Stevenage) Limited (Registered number: 06577881)


Balance Sheet

30 April 2017



2017


2016


Notes

£   

£   


FIXED ASSETS

Tangible assets

3

36,903


26,618




CURRENT ASSETS

Debtors

4

22,151


27,414



Cash at bank and in hand

25,296


31,299



47,447


58,713



CREDITORS

Amounts falling due within one year

5

(23,647

)

(33,846

)


NET CURRENT ASSETS

23,800


24,867



TOTAL ASSETS LESS CURRENT

LIABILITIES

60,703


51,485




CREDITORS

Amounts falling due after more than one

year

6

(1,623

)

(6,342

)



PROVISIONS FOR LIABILITIES

(5,410

)

(2,513

)


NET ASSETS

53,670


42,630




CAPITAL AND RESERVES

Called up share capital

66


66



Capital redemption reserve

36


36



Retained earnings

53,568


42,528



SHAREHOLDERS' FUNDS

53,670


42,630




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.  


The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their 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.


ABC Taxis (Stevenage) Limited (Registered number: 06577881)


Balance Sheet - continued

30 April 2017



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 Board of Directors on 4 January 2018 and were signed on its behalf by:





Mr J Quinn - Director




Mr P T Barrett - Director



ABC Taxis (Stevenage) Limited (Registered number: 06577881)


Notes to the Financial Statements

For The Year Ended 30 April 2017


1.

STATUTORY INFORMATION



ABC Taxis (Stevenage) 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 net invoiced sales of services, excluding value added tax.



In respect of long-term contracts and contracts for ongoing service, turnover represents the value of work done in


the year, including estimates of amounts invoiced. Turnover in respect of long-term contracts and contracts for


ongoing services is recognised by reference to the stage of completion.



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.




Fixtures and fittings

-

25% on reducing balance


Motor vehicles

-

25% on reducing balance


Computer equipment

-

33% on cost



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.


Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.


ABC Taxis (Stevenage) Limited (Registered number: 06577881)


Notes to the Financial Statements - continued

For The Year Ended 30 April 2017



3.

TRANSITION TO FRS 102



These are the first financial statements that comply with FRS102. The company transitioned to FRS 102 on .


1st May 2016.



No transitional adjustments were required in equity or profit or loss for the year.