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REGISTERED NUMBER: 05930439 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: R H Powell
N R Price





SECRETARY: Mrs S L Plimmer





REGISTERED OFFICE: Unit 38h Vanguard Way
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3TG





REGISTERED NUMBER: 05930439 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 387,477 413,864

CURRENT ASSETS
Stocks 39,477 44,535
Debtors 6 252,424 198,874
Cash in hand 150 804
292,051 244,213
CREDITORS
Amounts falling due within one year 7 427,733 343,491
NET CURRENT LIABILITIES (135,682 ) (99,278 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,795

314,586

CREDITORS
Amounts falling due after more than one
year

8

(108,807

)

(153,606

)

PROVISIONS FOR LIABILITIES (58,829 ) (64,887 )
NET ASSETS 84,159 96,093

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 10 84,157 96,091
SHAREHOLDERS' FUNDS 84,159 96,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

BALANCE SHEET - continued
30 NOVEMBER 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 22 March 2024 and were signed on its behalf by:





R H Powell - Director


TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Taylors Mechanical Heating & Plumbing Services 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements are for the individual entity only.

The financial statements are presented in Sterling (£), rounded to the nearest £1.

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

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.
Freehold property - 2% on cost of buildings only
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stock and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at the lower of cost and net realisable value by the directors. Cost represents materials, direct labour and directly attributable overheads.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 22 ) .

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022 198,033 21,308 8,718
Additions - - -
Disposals - - -
At 30 November 2023 198,033 21,308 8,718
DEPRECIATION
At 1 December 2022 32,417 7,611 4,218
Charge for year 2,462 1,370 450
Eliminated on disposal - - -
At 30 November 2023 34,879 8,981 4,668
NET BOOK VALUE
At 30 November 2023 163,154 12,327 4,050
At 30 November 2022 165,616 13,697 4,500

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 288,198 14,800 531,057
Additions 47,990 1,289 49,279
Disposals (25,995 ) - (25,995 )
At 30 November 2023 310,193 16,089 554,341
DEPRECIATION
At 1 December 2022 60,060 12,887 117,193
Charge for year 50,992 1,953 57,227
Eliminated on disposal (7,556 ) - (7,556 )
At 30 November 2023 103,496 14,840 166,864
NET BOOK VALUE
At 30 November 2023 206,697 1,249 387,477
At 30 November 2022 228,138 1,913 413,864

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022 287,385
Additions 47,990
Disposals (25,995 )
At 30 November 2023 309,380
DEPRECIATION
At 1 December 2022 59,432
Charge for year 50,955
Eliminated on disposal (7,556 )
At 30 November 2023 102,831
NET BOOK VALUE
At 30 November 2023 206,549
At 30 November 2022 227,953

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 222,210 173,052
Amounts recoverable on contract 17,435 21,873
Other debtors 10,340 1,574
Prepayments 2,439 2,375
252,424 198,874

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 102,045 97,359
Hire purchase contracts 45,655 39,818
Trade creditors 86,842 90,991
Tax 75,926 1,296
Social security and other taxes 10,314 11,904
VAT 40,668 28,617
Other creditors 7,851 8,200
Directors' current accounts 53,867 60,843
Accrued expenses 4,565 4,463
427,733 343,491

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loan repayable between 1 - 2 years 10,216 6,972
Bank loan repayable between 2 - 5 years - 20,916
Bank loan repayable in more than 5 years - 11,823
Hire purchase contracts 98,591 113,895
108,807 153,606

Amounts falling due in more than five years:

Repayable by instalments
Bank loan repayable in more than 5 years - 11,823

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank overdrafts 83,073 90,387
Bank loans 29,188 46,683
Hire purchase contracts 144,246 153,713
256,507 290,783

There is a debenture charge dated 19 December 2008 registered at Companies House, in favour of Lloyds TSB Bank Plc, which secures all monies due or to become due from the Company to Lloyds TSB Plc in relation to the bank's overdraft.

There is a mortgage charge dated 14 January 2009 registered at Companies House in favour of Lloyds TSB Bank Plc, this mortgage also secures all monies due or to become due from the Company to Lloyds TSB Plc in relation to properties owned.

Hire purchase liabilities are secured against the assets to which they relate.

10. RESERVES
Retained
earnings
£   

At 1 December 2022 96,091
Profit for the year 97,266
Dividends (109,200 )
At 30 November 2023 84,157

TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES LIMITED (REGISTERED NUMBER: 05930439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

11. CONTINGENT LIABILITIES

At the balance sheet date, there is an ongoing HMRC enquiry in respect of Corporation Tax, as a result of a Research and Development claim. Included in the accounts is a provision of £45,730.28. The outcome of the enquiry and any obligation arising is still uncertain.

12. RELATED PARTY DISCLOSURES

The directors of the company have provided a guarantee regarding the bank overdraft and mortgage.

13. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TAYLORS MECHANICAL HEATING & PLUMBING
SERVICES 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 Taylors Mechanical Heating & Plumbing Services Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Taylors Mechanical Heating & Plumbing Services 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 Taylors Mechanical Heating & Plumbing Services Limited and state those matters that we have agreed to state to the Board of Directors of Taylors Mechanical Heating & Plumbing Services 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 Taylors Mechanical Heating & Plumbing Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Taylors Mechanical Heating & Plumbing Services 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 Taylors Mechanical Heating & Plumbing Services Limited. You consider that Taylors Mechanical Heating & Plumbing Services 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 Taylors Mechanical Heating & Plumbing Services 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.






D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL


22 March 2024