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REGISTERED NUMBER: 02621727 (England and Wales)








TAYLER REID LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






TAYLER REID LIMITED (REGISTERED NUMBER: 02621727)

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

Chartered Accountants' Report 8

TAYLER REID LIMITED

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: Mr P M Tayler
Mrs L Tayler
Mr J Reid
Mrs P J Reid





SECRETARY: Mr J Reid





REGISTERED OFFICE: Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR





REGISTERED NUMBER: 02621727 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

TAYLER REID LIMITED (REGISTERED NUMBER: 02621727)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,866 10,837

CURRENT ASSETS
Debtors 5 258,623 335,610
Cash at bank and in hand 2 142
258,625 335,752
CREDITORS
Amounts falling due within one year 6 (220,140 ) (191,196 )
NET CURRENT ASSETS 38,485 144,556
TOTAL ASSETS LESS CURRENT LIABILITIES 49,351 155,393

CREDITORS
Amounts falling due after more than one year 7 (12,622 ) (20,126 )

PROVISIONS FOR LIABILITIES (14,710 ) (24,088 )
NET ASSETS 22,019 111,179

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,919 111,079
SHAREHOLDERS' FUNDS 22,019 111,179

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

TAYLER REID LIMITED (REGISTERED NUMBER: 02621727)

BALANCE SHEET - continued
31 July 2023


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 20 February 2024 and were signed on its behalf by:




Mr J Reid - Director



Mr P M Tayler - Director


TAYLER REID LIMITED (REGISTERED NUMBER: 02621727)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Tayler Reid Limited 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 principal place of business is 32-34 Great Marlborough Street, London, W1F 7JB.

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 represents the value of services provided to clients. Where recorded turnover exceeds amounts invoiced to and payable by clients, the excess is classified within debtors as 'amounts recoverable on contracts'. Where amounts invoiced to and payable by clients exceed turnover, the excess is classified as 'payments received in advance' within creditors.

Profits are recognised on the basis of the proportion of total estimated contract profits represented by contract activity in the year, to the extent that such profits can be estimated with reasonable certainty. Full provision is made for foreseeable losses on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses.

Financial instruments
Financial instruments are classified as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently recognised at amortised cost using the effective interest method. The company does not have any non-basic instruments.

Taxation
Current tax is the amount of corporation tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

TAYLER REID LIMITED (REGISTERED NUMBER: 02621727)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued

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.

The pension costs charged in the financial statements represent the contribution payable by the company into the directors' personal pension schemes.

Leasing commitments
Rentals payable under operating leases are charged to profit and loss on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

Provisions for liabilities
Provisions are recognised in the financial statements for all expected future cash outflows arising in respect of lease dilapidations. A provision is provided for when the company has a contractual obligation under the agreed lease term to return the premises to its original order. The provision is based on previous experience and the current state of repair. The expected costs are charged to profit and loss on a straight line basis over the term of the lease.

When a lease ends the cost of the dilapidations work is recognised against the provision. Any difference between the provision and the actual dilapidations cost is recognised in the profit and loss account.

Government grants
Government grants in the prior year related to grants receivable under the Coronavirus Job Retention Scheme. These were accounted for under the accruals model. Grants relating to revenue are recognised in income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 26,457
Additions 1,863
At 31 July 2023 28,320
DEPRECIATION
At 1 August 2022 15,620
Charge for year 1,834
At 31 July 2023 17,454
NET BOOK VALUE
At 31 July 2023 10,866
At 31 July 2022 10,837

TAYLER REID LIMITED (REGISTERED NUMBER: 02621727)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 144,954 114,769
Amounts recoverable on
contracts 18,112 43,128
Other debtors 55,726 137,882
218,792 295,779

Amounts falling due after more than one year:
Other debtors 39,831 39,831

Aggregate amounts 258,623 335,610

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 40,437 23,723
Trade creditors 38,158 24,723
Taxation and social security 105,185 85,495
Other creditors 36,360 57,255
220,140 191,196

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 12,622 20,126

8. LOANS

The loan is a Coronavirus Bounce Back Loan which attracts interest at a fixed rate of 2.5%. The loan is unsecured.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr J Reid
Balance outstanding at start of year 64,415 71,528
Amounts advanced 26,150 64,887
Amounts repaid (67,166 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,399 64,415

TAYLER REID LIMITED (REGISTERED NUMBER: 02621727)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr P M Tayler
Balance outstanding at start of year 56,747 71,366
Amounts advanced 26,293 57,381
Amounts repaid (65,000 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,040 56,747

The loans are interest free and repayable on demand.

10. FINANCIAL COMMITMENTS

At the balance sheet date there were outstanding financial commitments of £126,307 (2022: £159,423).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TAYLER REID LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tayler Reid Limited for the year ended 31 July 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tayler Reid Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tayler Reid Limited and state those matters that we have agreed to state to the Board of Directors of Tayler Reid Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tayler Reid Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tayler Reid Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tayler Reid Limited. You consider that Tayler Reid Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tayler Reid Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors which obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


20 February 2024