2022-02-012023-01-312023-01-31false06045982TAYLOR & TAYLOR BUILDING SERVICES 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TAYLOR & TAYLOR BUILDING SERVICES LIMITED

Registered Number
06045982
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

TAYLOR & TAYLOR BUILDING SERVICES LIMITED
Company Information
for the year from 1 February 2022 to 31 January 2023

Directors

S Taylor
V Taylor

Registered Address

3 Ashbourne Road
Hazel Grove
Stockport
SK7 6DX

Registered Number

06045982 (England and Wales)
TAYLOR & TAYLOR BUILDING SERVICES LIMITED
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets867245
67245
Current assets
Debtors106081,042
Cash at bank and on hand39,27828,515
39,88629,557
Creditors amounts falling due within one year11(18,472)(18,611)
Net current assets (liabilities)21,41410,946
Total assets less current liabilities21,48111,191
Provisions for liabilities12(13)(46)
Net assets21,46811,145
Capital and reserves
Called up share capital22
Profit and loss account21,46611,143
Shareholders' funds21,46811,145
The financial statements were approved and authorised for issue by the Board of Directors on 25 October 2023, and are signed on its behalf by:
S Taylor
Director
Registered Company No. 06045982
TAYLOR & TAYLOR BUILDING SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings3
Vehicles4
Office Equipment3
Intangible assets policy
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Stocks policy
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Critical estimates and judgements
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
6.Employee information

20232022
Average number of employees during the year33
7.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 February 225,0005,000
At 31 January 235,0005,000
Amortisation and impairment
At 01 February 225,0005,000
At 31 January 235,0005,000
Net book value
At 31 January 23--
At 31 January 22--
8.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 February 223,89413,33054556418,333
At 31 January 233,89413,33054556418,333
Depreciation and impairment
At 01 February 223,64913,33054556418,088
Charge for year178---178
At 31 January 233,82713,33054556418,266
Net book value
At 31 January 2367---67
At 31 January 22245---245
9.Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises direct materials, and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
10.Debtors

2023

2022

££
Trade debtors / trade receivables-204
Other debtors608838
Total6081,042
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables2,6925,414
Bank borrowings and overdrafts3,3771,446
Taxation and social security12,0869,461
Other creditors317790
Accrued liabilities and deferred income-1,500
Total18,47218,611
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
12.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

2023

2022

££
Net deferred tax liability (asset)1346
Total1346