ACCOUNTS - Final Accounts

Commitments under operating leases

At 30 June 2020 the Company had future minimum lease payments under non-cancellable operating leases as follows:

Company registration number: 08087456

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 JUNE 2020

	DSA TAXIS LIMITED


DSA TAXIS LIMITED REGISTERED NUMBER:08087456

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2020

		2020		2019
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	93,127		122,862
Cash at bank and in hand		346,965		266,110
		440,092		388,972
Creditors: amounts falling due within one year	5	(126,450)		(125,449)
Net current assets			313,642		263,523
Total assets less current liabilities			313,642		263,523

Net assets			313,642		263,523

Capital and reserves
Called up share capital	100	100
Profit and loss account	313,542	263,423
	313,642	263,523

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2020.

................................................ Mrs T M Olivere	................................................ Mr H J Olivere
Director	Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1


DSA TAXIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

1.	General information

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
DSA Taxis Limited is a private company, limited by shares, registered in England and Wales, company registration number 08087456. The registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 2


DSA TAXIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

2.Accounting policies (continued)

2.5

Financial instruments (continued)

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 3 (2019 - 4).

Debtors

					2020	2019
					£	£


Trade debtors	3,422	42,765
Other debtors	3,081	1,459
Prepayments and accrued income	86,624	78,638
	93,127	122,862

Included within other debtors is an amount of £3,081 (2019 - £1,459) due from the director. This was repaid on 28 September 2020.

5.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Other loans	50,000	-
Corporation tax	51,927	68,873
Other taxation and social security	8,580	35,502
Accruals and deferred income	15,943	21,074
	126,450	125,449

Page 3


DSA TAXIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

	Not later than 1 year	36,900	-
		36,900	-

Page 4