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REGISTERED NUMBER: SC352132 (Scotland)















Financial Statements for the Year Ended 31 December 2022

for

J M Taylor Accountants Limited

J M Taylor Accountants Limited (Registered number: SC352132)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J M Taylor Accountants Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Ms G D Crighton
R C Chalmers
A Benson





REGISTERED OFFICE: Citygate
Blackburn Business Park
Blackburn
Aberdeen
AB21 0PS





REGISTERED NUMBER: SC352132 (Scotland)






J M Taylor Accountants Limited (Registered number: SC352132)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,794 2,841
Investments 6 1,130,478 1,130,478
1,132,272 1,133,319

CURRENT ASSETS
Debtors 7 1,130,306 1,165,690
Cash at bank and in hand 822,982 586,130
1,953,288 1,751,820
CREDITORS
Amounts falling due within one year 8 428,062 440,284
NET CURRENT ASSETS 1,525,226 1,311,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,657,498

2,444,855

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 2,657,495 2,444,852
SHAREHOLDERS' FUNDS 2,657,498 2,444,855

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 30 September 2023 and were signed on its behalf by:



R C Chalmers - Director


J M Taylor Accountants Limited (Registered number: SC352132)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

J M Taylor Accountants Limited is a private company, limited by shares , registered in Scotland. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, 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.
Plant and machinery etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

J M Taylor Accountants Limited (Registered number: SC352132)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 20 (2021 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 500,000
AMORTISATION
At 1 January 2022
and 31 December 2022 500,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 106,468
DEPRECIATION
At 1 January 2022 103,627
Charge for year 1,047
At 31 December 2022 104,674
NET BOOK VALUE
At 31 December 2022 1,794
At 31 December 2021 2,841

J M Taylor Accountants Limited (Registered number: SC352132)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 1,130,478
NET BOOK VALUE
At 31 December 2022 1,130,478
At 31 December 2021 1,130,478

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 440,265 471,628
Other debtors 690,041 694,062
1,130,306 1,165,690

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 65,136 52,363
Taxation and social security 105,642 89,046
Other creditors 257,284 298,875
428,062 440,284

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.