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REGISTERED NUMBER: NC000025 (Northern Ireland)















Financial Statements

for the Year Ended 30 April 2023

for

Taylor and Boyd LLP

Taylor and Boyd LLP (Registered number: NC000025)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Taylor and Boyd LLP

General Information
for the Year Ended 30 April 2023







DESIGNATED MEMBERS: Mr Paul Taylor
Mr R Glenn Kerr





REGISTERED OFFICE: 107 Malone Avenue
Belfast
Co. Antrim
BT9 6EQ





REGISTERED NUMBER: NC000025 (Northern Ireland)





ACCOUNTANTS: McCleary & Company Ltd
Chartered Accountants
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP

Taylor and Boyd LLP (Registered number: NC000025)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 21,773 19,108

CURRENT ASSETS
Debtors 5 1,002,901 991,922
Cash at bank 85,943 105,249
1,088,844 1,097,171
CREDITORS
Amounts falling due within one year 6 (193,401 ) (165,592 )
NET CURRENT ASSETS 895,443 931,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

917,216

950,687

CREDITORS
Amounts falling due after more than one
year

7

(25,892

)

(35,520

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

891,324

915,167

LOANS AND OTHER DEBTS DUE
TO MEMBERS

8

891,324

915,167

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 891,324 915,167

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 April 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Taylor and Boyd LLP (Registered number: NC000025)

Balance Sheet - continued
30 April 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 2 October 2023 and were signed by:




Mr Paul Taylor - Designated member




Mr R Glenn Kerr - Designated member


Taylor and Boyd LLP (Registered number: NC000025)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Taylor and Boyd LLP is registered in Northern Ireland. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

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 and 25% on reducing balance

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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 32 (2022 - 32 ) .

Taylor and Boyd LLP (Registered number: NC000025)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 131,196
Additions 16,773
At 30 April 2023 147,969
DEPRECIATION
At 1 May 2022 112,088
Charge for year 14,108
At 30 April 2023 126,196
NET BOOK VALUE
At 30 April 2023 21,773
At 30 April 2022 19,108

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 412,841 411,365
Amounts recoverable on contract 161,475 123,950
Other debtors 428,585 456,607
1,002,901 991,922

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 10,651 11,018
Trade creditors 15,835 13,531
Taxation and social security 155,345 123,905
Other creditors 11,570 17,138
193,401 165,592

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans 25,892 35,520

Taylor and Boyd LLP (Registered number: NC000025)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

2023 2022
£    £   
Loans from members 951,367 744,569
Profits less drawings (60,043 ) 170,598
Loans due to members at 30 April 2023 891,324 915,167