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TAYLORED LIFE COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2020 TO 31 MARCH 2022






TAYLORED LIFE COMPANY LIMITED (REGISTERED NUMBER: 07008251)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2020 TO 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAYLORED LIFE COMPANY LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2020 TO 31 MARCH 2022







DIRECTORS: Mrs N Taylor
M A Taylor





REGISTERED OFFICE: Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE





REGISTERED NUMBER: 07008251 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

TAYLORED LIFE COMPANY LIMITED (REGISTERED NUMBER: 07008251)

BALANCE SHEET
31 MARCH 2022

2022 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,186 157

CURRENT ASSETS
Stocks 367 333
Debtors 5 178,066 143,382
Prepayments and accrued income 137 -
Cash at bank and in hand 122,709 155,865
301,279 299,580
CREDITORS
Amounts falling due within one year 6 118,086 125,889
NET CURRENT ASSETS 183,193 173,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,379

173,848

CREDITORS
Amounts falling due after more than one year 7 (31,667 ) (45,833 )

PROVISIONS FOR LIABILITIES (415 ) -

ACCRUALS AND DEFERRED INCOME (1,682 ) (1,115 )
NET ASSETS 151,615 126,900

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 151,515 126,800
151,615 126,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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.

TAYLORED LIFE COMPANY LIMITED (REGISTERED NUMBER: 07008251)

BALANCE SHEET - continued
31 MARCH 2022


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

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 and authorised for issue on 25 August 2022 and were signed on its behalf by:





M A Taylor - Director


TAYLORED LIFE COMPANY LIMITED (REGISTERED NUMBER: 07008251)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2020 TO 31 MARCH 2022

1. STATUTORY INFORMATION

Taylored Life Company 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, Straight line over 3 years and Straight line over 5 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2020 - 2 ) .

TAYLORED LIFE COMPANY LIMITED (REGISTERED NUMBER: 07008251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2020 TO 31 MARCH 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2020 8,896
Additions 2,802
At 31 March 2022 11,698
DEPRECIATION
At 1 October 2020 8,739
Charge for period 773
At 31 March 2022 9,512
NET BOOK VALUE
At 31 March 2022 2,186
At 30 September 2020 157

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2020
£    £   
Trade debtors 170,858 126,572
Other debtors 7,208 16,810
178,066 143,382

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2020
£    £   
Bank loans and overdrafts 10,000 4,167
Trade creditors 7,586 24,388
Taxation and social security 57,528 39,256
Other creditors 42,972 58,078
118,086 125,889

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2020
£    £   
Bank loans 31,667 45,833

TAYLORED LIFE COMPANY LIMITED (REGISTERED NUMBER: 07008251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2020 TO 31 MARCH 2022

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2022 and the year ended 30 September 2020:

2022 2020
£    £   
Mrs N Taylor
Balance outstanding at start of period 9,446 -
Amounts advanced 35,981 50,351
Amounts repaid (45,389 ) (40,905 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 38 9,446

M A Taylor
Balance outstanding at start of period 4,929 -
Amounts advanced 11,058 36,429
Amounts repaid (13,901 ) (31,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 2,086 4,929

There are no fixed repayment terms, interest on loans greater than £10,000 has been charged at the official rate of interest.