REGISTERED NUMBER:
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LEEDS TAXI OWNERS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MAY 2021 |
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REGISTERED NUMBER:
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LEEDS TAXI OWNERS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MAY 2021 |
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LEEDS TAXI OWNERS LIMITED (REGISTERED NUMBER: 06067866) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2021 |
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Balance Sheet | 1 | to | 2 |
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Notes to the Financial Statements | 3 | to | 6 |
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LEEDS TAXI OWNERS LIMITED (REGISTERED NUMBER: 06067866) |
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BALANCE SHEET |
31ST MAY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
LEEDS TAXI OWNERS LIMITED (REGISTERED NUMBER: 06067866) |
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BALANCE SHEET - continued |
31ST MAY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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LEEDS TAXI OWNERS LIMITED (REGISTERED NUMBER: 06067866) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2021 |
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1. | STATUTORY INFORMATION |
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Leeds Taxi Owners Limited is a
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Registered number: | 06067866 |
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Registered office: | Unit 15 Ashbrooke Park |
Parkside Lane |
Leeds |
LS11 5SF |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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When the outcome of a transaction can be estimated reliably, turnover from taxi services, rent income and driver subscriptions, is recognised by reference to the number of fares completed at the balance sheet date. |
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Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
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Goodwill |
Goodwill, being amount paid in connection with the acquisition of a business in 2008, has been amortised over its estimated useful life of 10 years, previously 20 years.The directors have chosen to reduce the useful life of goodwill as they believe this provides more reliable and relevant information due to the asset no longer expected to generate future cash flow. Therefore, goodwill was fully amortised at 31st May 2017. |
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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. |
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Tangible fixed assets |
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Freehold property | - |
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Short leasehold | - |
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Fixtures and fittings | - |
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Telecoms equipment | - |
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Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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LEEDS TAXI OWNERS LIMITED (REGISTERED NUMBER: 06067866) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Debtors and creditors receivable / payable within 1 year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1st June 2020 |
and 31st May 2021 |
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AMORTISATION |
At 1st June 2020 |
and 31st May 2021 |
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NET BOOK VALUE |
At 31st May 2021 |
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At 31st May 2020 |
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LEEDS TAXI OWNERS LIMITED (REGISTERED NUMBER: 06067866) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2021 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Short | and | Telecoms |
property | leasehold | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st June 2020 |
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Additions |
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Disposals | ( |
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At 31st May 2021 |
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DEPRECIATION |
At 1st June 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st May 2021 |
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NET BOOK VALUE |
At 31st May 2021 |
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At 31st May 2020 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1st June 2020 |
and 31st May 2021 |
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35,616 |
PROVISIONS |
At 1st June 2020 |
and 31st May 2021 | - | 35,606 | 35,606 |
NET BOOK VALUE |
At 31st May 2021 |
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10 |
At 31st May 2020 |
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10 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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LEEDS TAXI OWNERS LIMITED (REGISTERED NUMBER: 06067866) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2021 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | 1.00 | 158,000 | 158,000 |