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REGISTERED NUMBER: 09190144 (England and Wales)









TAYCON MANAGEMENT LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






TAYCON MANAGEMENT LTD. (REGISTERED NUMBER: 09190144)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TAYCON MANAGEMENT LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr D D Taylor
Mrs Z A M Taylor





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 09190144 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

TAYCON MANAGEMENT LTD. (REGISTERED NUMBER: 09190144)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,009 1,056
Investment property 5 2,304,383 2,260,621
2,305,392 2,261,677

CURRENT ASSETS
Debtors 6 200 200
Cash at bank 41,155 53,139
41,355 53,339
CREDITORS
Amounts falling due within one year 7 593,007 642,557
NET CURRENT LIABILITIES (551,652 ) (589,218 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,753,740 1,672,459

CREDITORS
Amounts falling due after more than one year 8 (1,722,125 ) (1,722,125 )

PROVISIONS FOR LIABILITIES (49,602 ) (29,392 )
NET LIABILITIES (17,987 ) (79,058 )

CAPITAL AND RESERVES
Called up share capital 105 105
Other reserves 148,050 124,447
Retained earnings (166,142 ) (203,610 )
SHAREHOLDERS' FUNDS (17,987 ) (79,058 )

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

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

TAYCON MANAGEMENT LTD. (REGISTERED NUMBER: 09190144)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





Mr D D Taylor - Director


TAYCON MANAGEMENT LTD. (REGISTERED NUMBER: 09190144)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Taycon Management 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable during the period. Rental income is recognised on the basis of amounts due in the 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 etc - 33% on cost

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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

TAYCON MANAGEMENT LTD. (REGISTERED NUMBER: 09190144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company has the continued financial support of its directors, who have agreed not to request repayment of their loans until the company has the funds available. On this basis the directors of Taycon Management Ltd. consider it appropriate to prepare accounts on the going concern basis. The financial statements do not include any adjustments that would result in the company suffering further trading losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 87,435
Additions 1,159
At 31 August 2023 88,594
DEPRECIATION
At 1 September 2022 86,379
Charge for year 1,206
At 31 August 2023 87,585
NET BOOK VALUE
At 31 August 2023 1,009
At 31 August 2022 1,056

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 2,260,621
Revaluations 43,762
At 31 August 2023 2,304,383
NET BOOK VALUE
At 31 August 2023 2,304,383
At 31 August 2022 2,260,621

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2017 153,638
Valuation in 2023 43,762
Cost 2,106,983
2,304,383

TAYCON MANAGEMENT LTD. (REGISTERED NUMBER: 09190144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,106,983 2,106,983

Investment property was valued on an open market basis on 31 August 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 200 200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors - 892
Directors' current accounts 585,097 631,614
Accruals and deferred income 7,910 10,051
593,007 642,557

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans more 5 yrs non-inst 1,722,125 1,722,125

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,722,125 1,722,125

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 18,615 27,900
Between one and five years - 18,615
18,615 46,515

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,722,125 1,722,125