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REGISTERED NUMBER: 05825007 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

M J Taylor & Son Ltd.

M J Taylor & Son Ltd. (Registered number: 05825007)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M J Taylor & Son Ltd.

Company Information
for the year ended 31 May 2023







DIRECTORS: M J Taylor
A Taylor





REGISTERED OFFICE: Adelphi Chambers
30 Hoghton Street
Southport
Merseyside
PR9 0NZ





REGISTERED NUMBER: 05825007 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Adelphi Chambers
30 Hoghton Street
Southport
Merseyside
PR9 0NZ

M J Taylor & Son Ltd. (Registered number: 05825007)

Balance Sheet
31 May 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 9,000 9,000
Tangible assets 5 2,041 2,549
11,041 11,549

CURRENT ASSETS
Stocks 900 900
Debtors 6 1,200 18,500
Cash at bank 11,995 11,337
14,095 30,737
CREDITORS
Amounts falling due within one year 7 (11,713 ) (21,934 )
NET CURRENT ASSETS 2,382 8,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,423

20,352

CREDITORS
Amounts falling due after more than one year 8 (4,901 ) (7,464 )
NET ASSETS 8,522 12,888

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 8,422 12,788
SHAREHOLDERS' FUNDS 8,522 12,888

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

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

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





M J Taylor - Director


M J Taylor & Son Ltd. (Registered number: 05825007)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

M J Taylor & Son Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulate impairment losses over a ten year period.

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 - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

M J Taylor & Son Ltd. (Registered number: 05825007)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2022
and 31 May 2023 15,000
AMORTISATION
At 1 June 2022
and 31 May 2023 6,000
NET BOOK VALUE
At 31 May 2023 9,000
At 31 May 2022 9,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 June 2022
and 31 May 2023 100 6,450 515 7,065
DEPRECIATION
At 1 June 2022 92 3,947 477 4,516
Charge for year 1 501 6 508
At 31 May 2023 93 4,448 483 5,024
NET BOOK VALUE
At 31 May 2023 7 2,002 32 2,041
At 31 May 2022 8 2,503 38 2,549

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,200 18,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 2,602 2,539
Trade creditors 2,569 5,472
Taxation and social security 658 4,533
Other creditors 5,884 9,390
11,713 21,934

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 4,901 7,464

M J Taylor & Son Ltd. (Registered number: 05825007)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100