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REGISTERED NUMBER: 01460186 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

F.T. TAYLOR (WATFORD) LIMITED

F.T. TAYLOR (WATFORD) LIMITED (REGISTERED NUMBER: 01460186)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F.T. TAYLOR (WATFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: Mrs P Barchha





REGISTERED OFFICE: 137 Courtlands Drive
Watford
Hertfordshire
WD24 5LL





REGISTERED NUMBER: 01460186 (England and Wales)





ACCOUNTANTS: Prestons
Chartered Accountants
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

F.T. TAYLOR (WATFORD) LIMITED (REGISTERED NUMBER: 01460186)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 121,557 37,928

CURRENT ASSETS
Stocks 50,832 60,451
Debtors 5 433,373 86,741
Cash at bank 37,064 503,338
521,269 650,530
CREDITORS
Amounts falling due within one year 6 187,879 219,376
NET CURRENT ASSETS 333,390 431,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

454,947

469,082

CREDITORS
Amounts falling due after more than one
year

7

367,462

405,472
NET ASSETS 87,485 63,610

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 87,385 63,510
87,485 63,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

F.T. TAYLOR (WATFORD) LIMITED (REGISTERED NUMBER: 01460186)

BALANCE SHEET - continued
31 JANUARY 2023


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 director and authorised for issue on 13 October 2023 and were signed by:





Mrs P Barchha - Director


F.T. TAYLOR (WATFORD) LIMITED (REGISTERED NUMBER: 01460186)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

F.T. Taylor (Watford) 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 represents net income receivable from sale of goods and services in the year, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.
Depreciation is provided on the following basis:

Fixtures & Fittings - 20% Straight Line basis

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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 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.


F.T. TAYLOR (WATFORD) LIMITED (REGISTERED NUMBER: 01460186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the suture payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 9 ) .

F.T. TAYLOR (WATFORD) LIMITED (REGISTERED NUMBER: 01460186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 - 50,475 50,475
Additions 70,892 23,150 94,042
At 31 January 2023 70,892 73,625 144,517
DEPRECIATION
At 1 February 2022 - 12,547 12,547
Charge for year - 10,413 10,413
At 31 January 2023 - 22,960 22,960
NET BOOK VALUE
At 31 January 2023 70,892 50,665 121,557
At 31 January 2022 - 37,928 37,928

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 118,886 73,997
Other debtors 314,487 12,744
433,373 86,741

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 51,001 43,333
Trade creditors 100,979 111,831
Taxation and social security 7,939 36,385
Other creditors 27,960 27,827
187,879 219,376

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 367,462 405,472