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31/10/2023
2023-10-31
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No description of principal activities is disclosed
2022-11-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
04929786
2022-11-01
2023-10-31
04929786
2023-10-31
04929786
2022-10-31
04929786
2021-11-01
2022-10-31
04929786
2022-10-31
04929786
core:LandBuildings
2022-11-01
2023-10-31
04929786
core:PlantMachinery
2022-11-01
2023-10-31
04929786
core:FurnitureFittingsToolsEquipment
2022-11-01
2023-10-31
04929786
core:MotorVehicles
2022-11-01
2023-10-31
04929786
core:OnerousContractsExcludingVacantProperties
2022-11-01
2023-10-31
04929786
bus:Director2
2022-11-01
2023-10-31
04929786
core:LandBuildings
2022-10-31
04929786
core:PlantMachinery
2022-10-31
04929786
core:FurnitureFittingsToolsEquipment
2022-10-31
04929786
core:MotorVehicles
2022-10-31
04929786
core:LandBuildings
2023-10-31
04929786
core:PlantMachinery
2023-10-31
04929786
core:FurnitureFittingsToolsEquipment
2023-10-31
04929786
core:MotorVehicles
2023-10-31
04929786
core:WithinOneYear
2023-10-31
04929786
core:WithinOneYear
2022-10-31
04929786
core:AfterOneYear
2023-10-31
04929786
core:AfterOneYear
2022-10-31
04929786
core:ShareCapital
2023-10-31
04929786
core:ShareCapital
2022-10-31
04929786
core:RetainedEarningsAccumulatedLosses
2023-10-31
04929786
core:RetainedEarningsAccumulatedLosses
2022-10-31
04929786
core:LandBuildings
2022-10-31
04929786
core:PlantMachinery
2022-10-31
04929786
core:FurnitureFittingsToolsEquipment
2022-10-31
04929786
core:MotorVehicles
2022-10-31
04929786
bus:SmallEntities
2022-11-01
2023-10-31
04929786
bus:AuditExemptWithAccountantsReport
2022-11-01
2023-10-31
04929786
bus:FullAccounts
2022-11-01
2023-10-31
04929786
bus:SmallCompaniesRegimeForAccounts
2022-11-01
2023-10-31
04929786
bus:PrivateLimitedCompanyLtd
2022-11-01
2023-10-31
Company registration number:
04929786
Taylor's Joinery and Plastics Limited
Unaudited financial statements
For the year ended
31 October 2023
Taylor's Joinery and Plastics Limited
Contents
Statement of financial position
Notes to the financial statements
Taylor's Joinery and Plastics Limited
Statement of financial position
31 October 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
174,276 |
|
|
|
138,294 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
174,276 |
|
|
|
138,294 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
96,000 |
|
|
|
96,000 |
|
|
Debtors |
|
5 |
428,443 |
|
|
|
388,545 |
|
|
Cash at bank and in hand |
|
|
590,063 |
|
|
|
300,352 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
1,114,506 |
|
|
|
784,897 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
684,582) |
|
|
|
(
524,123) |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
Net current assets |
|
|
|
|
429,924 |
|
|
|
260,774 |
|
|
|
|
|
________ |
|
|
|
________ |
Total assets less current liabilities |
|
|
|
|
604,200 |
|
|
|
399,068 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
7 |
|
|
(
43,933) |
|
|
|
(
73,893) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
|
|
|
|
|
Deferred taxation |
|
|
|
|
(
9,206) |
|
|
|
(
1,952) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
________ |
|
|
|
________ |
Net assets |
|
|
|
|
551,061 |
|
|
|
323,223 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
202 |
|
|
|
201 |
Profit and loss account |
|
|
|
|
550,859 |
|
|
|
323,022 |
|
|
|
|
|
________ |
|
|
|
________ |
Shareholders funds |
|
|
|
|
551,061 |
|
|
|
323,223 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
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|
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|
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
04 April 2024
, and are signed on behalf of the board by:
Mr S M Taylor
Director
Company registration number:
04929786
Taylor's Joinery and Plastics Limited
Notes to the financial statements
Year ended 31 October 2023
1.
Company information
The company is a private company limited by shares, registered in England and Wales, registration number
04929786
. The address of the registered office is Seaton Cote, Branthwaite Lane, Seaton, Workington, CA14 1HD.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible fixed assets are included at cost less depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold and leasehold properties |
- |
20 % |
straight line |
|
Plant and machinery |
- |
20 % |
straight line |
|
Fittings fixtures and equipment |
- |
20 % |
straight line |
|
Motor vehicles |
- |
25 % |
straight line |
|
Registration plates |
- |
10 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and net realisable value.
Provisions
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
20
(2022:
18
).
4.
Tangible assets
|
|
Freehold and leasehold properties |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Registration plates |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 November 2022 |
12,600 |
62,999 |
43,804 |
235,529 |
5,473 |
360,405 |
|
|
Additions |
9,250 |
22,900 |
3,120 |
84,887 |
- |
120,157 |
|
|
Disposals |
- |
(
7,450) |
- |
(
20,500) |
- |
(
27,950) |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
At 31 October 2023 |
21,850 |
78,449 |
46,924 |
299,916 |
5,473 |
452,612 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 November 2022 |
2,520 |
44,584 |
38,441 |
133,421 |
3,145 |
222,111 |
|
|
Charge for the year |
4,370 |
8,962 |
2,821 |
63,006 |
547 |
79,706 |
|
|
Disposals |
- |
(
2,981) |
- |
(
20,500) |
- |
(
23,481) |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
At 31 October 2023 |
6,890 |
50,565 |
41,262 |
175,927 |
3,692 |
278,336 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 October 2023 |
14,960 |
27,884 |
5,662 |
123,989 |
1,781 |
174,276 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
At 31 October 2022 |
10,080 |
18,415 |
5,363 |
102,108 |
2,328 |
138,294 |
|
|
|
________ |
________ |
________ |
________ |
________ |
________ |
|
|
|
|
|
|
|
|
|
|
5.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
395,371 |
375,286 |
|
Other debtors |
|
33,072 |
13,259 |
|
|
|
________ |
________ |
|
|
|
428,443 |
388,545 |
|
|
|
________ |
________ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
496,022 |
451,081 |
|
Taxation and social security |
|
121,932 |
47,226 |
|
Director loan accounts |
|
- |
28 |
|
Other creditors |
|
66,628 |
25,788 |
|
|
|
________ |
________ |
|
|
|
684,582 |
524,123 |
|
|
|
________ |
________ |
|
|
|
|
|
Net obligations under hire purchase contracts and finance leases are secured on the assets to which they relate.
7.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other creditors |
|
43,933 |
73,893 |
|
|
|
________ |
________ |
|
|
|
|
|
Net obligations under hire purchase contracts and finance leases are secured on the assets to which they relate.
8.
Pension commitments
The company operates defined contribution pension schemes for certain employees. The assets of the schemes are held seperately from those of the company in independently administered funds. At the balance sheet date, 31 October 2023, unpaid contributions of £4,558 (2022 - £4,180) were due to the fund.
9.
Directors advances, credits and guarantees
During the year the company made advances to Mr S Taylor, a director, totalling £3,412 (2022: £nil). Repayments of £nil were made by 31 October 2023 and so the balance outstanding at the year end, 31 October 2023, was £3,412 (2022: £nil). During the year the company made advances to Mrs J Taylor, a director, totalling £3,412 (2022: £nil). Repayments of £nil were made by 31 October 2023 and so the balance outstanding at the year end, 31 October 2023, was £3,412 (2022: £nil). Where applicable, interest is charged on overdrawn loan accounts at the rate of 2.00% per annum to 05 April 2023 and 2.25% thereafter, loans are repayable on demand.