REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Taurus Investor Services Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Taurus Investor Services Limited |
Taurus Investor Services Limited (Registered number: 04699069) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Taurus Investor Services Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
21 Gold Tops |
Newport |
South Wales |
NP20 4PG |
Taurus Investor Services Limited (Registered number: 04699069) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Taurus Investor Services Limited (Registered number: 04699069) |
Balance Sheet - continued |
31 July 2023 |
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 |
Taurus Investor Services Limited (Registered number: 04699069) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Taurus Investor Services Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 04699069 and the address of its registered office is Britannia House, 19 Bailey Street, Brynmawr, Gwent, NP23 4AN. |
These financial statements are the company's separate financial statements, covering the year to 31 July 2023 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound. |
The accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated. |
2. | STATEMENT OF COMPLIANCE |
The individual financial statements of Taurus Investor Services Limited have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents fees earned and are recognised as income when received. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter: |
Plant and machinery etc - 15% on cost |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost include costs directly attributable to making the asset capable of operating as intended. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account. |
Taurus Investor Services Limited (Registered number: 04699069) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
3. | ACCOUNTING POLICIES - continued |
Non derivative financial instruments |
Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and interest free loans. |
Debtors and creditors with no stated interest rate are receivable or payable within one year and are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. |
Cash and cash equivalents comprise cash at bank and in hand. |
Loans and borrowings and concessionary loans are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment. If an arrangement constitutes a finance transaction it is measured at present value. Loans and borrowings receivable within one year are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
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 profit or loss in the period to which they relate. |
Investment income |
Investment income is included when receivable. |
Taurus Investor Services Limited (Registered number: 04699069) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
Additions |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2018 | 33,362 |
Valuation in 2019 | (21,000 | ) |
Cost | 60,142 |
72,504 |
Taurus Investor Services Limited (Registered number: 04699069) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Taxation and social security |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.23 | 31.7.22 |
value: | £ | £ |
Ordinary A | £1 | 10,000 | 10,000 |
Ordinary B | £1 | 1,000 | 1,000 |
Ordinary C | £1 | 1,000 | 1,000 |
Ordinary D | £1 | 1,000 | 1,000 |
1,000 | Ordinary E | £1 | 1,000 | 1,000 |
14,000 | 14,000 |
The B,C,D and E shares are non-equity shares and do not entitle the holders to any voting rights and are non redeemable. |
The ordinary A shares are full equity shares and entitle the holders to full voting rights. |
10. | RELATED PARTY DISCLOSURES |
During the year under review, the company entered into transactions, in the ordinary course of business, with entities under the common control of key management personnel or their close family members as follows: |
Purchases and recharges in the sum of £23,968 (2022:£24,124). |
At the year end, included in debtors is the sum of £159,328 (2022:£149,596) owed by entities under the common control of key management personnel. There is no fixed repayment date on these loans and no interest has been charged. |
At the year end, included in creditors is the sum of £133,593 (2022:£132,348) owed to key management personnel. There is no fixed repayment date on these loans and no interest has been charged. |