S & L TAYLOR LTD 12483991 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Letting of residential properties Digita Accounts Production Advanced 6.30.9574.0 true true 12483991 2022-03-01 2023-02-28 12483991 2023-02-28 12483991 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-02-28 12483991 bus:Original 2023-02-28 12483991 core:CurrentFinancialInstruments 2023-02-28 12483991 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 12483991 core:Non-currentFinancialInstruments 2023-02-28 12483991 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 12483991 1 2023-02-28 12483991 bus:SmallEntities 2022-03-01 2023-02-28 12483991 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12483991 bus:FullAccounts 2022-03-01 2023-02-28 12483991 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12483991 bus:RegisteredOffice 2022-03-01 2023-02-28 12483991 bus:Director1 2022-03-01 2023-02-28 12483991 bus:Director2 2022-03-01 2023-02-28 12483991 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-03-01 2023-02-28 12483991 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12483991 1 2022-03-01 2023-02-28 12483991 countries:EnglandWales 2022-03-01 2023-02-28 12483991 2022-02-28 12483991 2021-03-01 2022-02-28 12483991 2022-02-28 12483991 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-02-28 12483991 core:CurrentFinancialInstruments 2022-02-28 12483991 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 12483991 core:Non-currentFinancialInstruments 2022-02-28 12483991 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 12483991 1 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12483991

S & L TAYLOR LTD

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

S & L TAYLOR LTD

Company Information

Directors

Lee Taylor

Sandra Taylor

Registered office

21 Sessile Close
Mossley Hill
Liverpool
L18 8ED

Accountants

Beans Accountants Ltd
Chartered Accountant
Suite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

 

S & L TAYLOR LTD

(Registration number: 12483991)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

97,096

97,096

Current assets

 

Debtors

5

40

36

Cash at bank and in hand

 

832

2,591

 

872

2,627

Creditors: Amounts falling due within one year

6

(38,460)

(40,294)

Net current liabilities

 

(37,588)

(37,667)

Total assets less current liabilities

 

59,508

59,429

Creditors: Amounts falling due after more than one year

6

(58,794)

(58,794)

Net assets

 

714

635

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

614

535

Shareholders' funds

 

714

635

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2023 and signed on its behalf by:
 

 

S & L TAYLOR LTD

(Registration number: 12483991)
Balance Sheet as at 28 February 2023 (continued)

.........................................
Lee Taylor
Director

.........................................
Sandra Taylor
Director

 

S & L TAYLOR LTD

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Sessile Close
Mossley Hill
Liverpool
L18 8ED

These financial statements were authorised for issue by the Board on 26 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

S & L TAYLOR LTD

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, as determined by management, derived from the current market prices for comparable real estate. Properties are formally revalued every three years by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

S & L TAYLOR LTD

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 March

97,096

At 28 February

97,096

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Prepayments

40

36

 

40

36

 

S & L TAYLOR LTD

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

722

178

Accruals and deferred income

600

600

Other creditors

37,138

39,516

38,460

40,294

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

58,794

58,794

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

£1 Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

58,794

58,794

Bank borrowings

 

S & L TAYLOR LTD

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

8

Loans and borrowings (continued)

Long Term Loan is denominated in £ with a nominal interest rate of 3.9%, and the final instalment is due on 31 August 2040. The carrying amount at year end is £58,794 (2022 - £58,794).

The loan is secured against the Company's property at 21 West Avenue, Warrington, WA2 8BG.

9

Related party transactions

As at 28 February 2023 the Directors advanced £37,138 (28 February 2022: £39,516) to the Company. The advance is interest free and repayable on demand.

 

S & L TAYLOR LTD

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

9

Related party transactions (continued)

Dividends paid to directors

   

2023
£

 

2022
£

Lee Taylor

       

28 February 2023

 

1,500

 

-

         

Sandra Taylor

       

28 February 2023

 

1,500

 

-