Registered number
11310677
Team Taylor Ltd
Filleted Accounts
30 June 2023
Team Taylor Ltd
Registered number: 11310677
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 410,185 301,496
Current assets
Cash at bank and in hand 4,667 6,154
Creditors: amounts falling due within one year 4 (310,377) (303,741)
Net current liabilities (305,710) (297,587)
Net assets 104,475 3,909
Capital and reserves
Called up share capital 100 100
Revaluation reserve 5 144,894 36,095
Profit and loss account (40,519) (32,286)
Shareholders' funds 104,475 3,909
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stuart Taylor
Director
Approved by the board on 25 October 2023
Team Taylor Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
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).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Held at market value
Office Equipment 15% Straight Line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 301,201 734 301,935
Additions 108,799 - 108,799
At 30 June 2023 410,000 734 410,734
Depreciation
At 1 July 2022 - 439 439
Charge for the year - 110 110
At 30 June 2023 - 549 549
Net book value
At 30 June 2023 410,000 185 410,185
At 30 June 2022 301,201 295 301,496
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 105
Other creditors 310,377 303,636
310,377 303,741
5 Revaluation reserve 2023 2022
£ £
At 1 July 2022 36,095 36,095
Gain on revaluation of land and buildings 108,799 -
At 30 June 2023 144,894 36,095
6 Other information
Team Taylor Ltd is a private company limited by shares and incorporated in England. Its registered office is:
21 Aire View Avenue
Bingley
BD16 1NS
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