Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-312022-11-01falseNo description of principal activity99truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01395614 2022-11-01 2023-10-31 01395614 2021-11-01 2022-10-31 01395614 2023-10-31 01395614 2022-10-31 01395614 c:Director1 2022-11-01 2023-10-31 01395614 c:Director2 2022-11-01 2023-10-31 01395614 c:RegisteredOffice 2022-11-01 2023-10-31 01395614 c:Agent1 2022-11-01 2023-10-31 01395614 d:Buildings 2022-11-01 2023-10-31 01395614 d:Buildings 2023-10-31 01395614 d:Buildings 2022-10-31 01395614 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01395614 d:MotorVehicles 2022-11-01 2023-10-31 01395614 d:MotorVehicles 2023-10-31 01395614 d:MotorVehicles 2022-10-31 01395614 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01395614 d:OfficeEquipment 2022-11-01 2023-10-31 01395614 d:OfficeEquipment 2023-10-31 01395614 d:OfficeEquipment 2022-10-31 01395614 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01395614 d:ComputerEquipment 2022-11-01 2023-10-31 01395614 d:ComputerEquipment 2023-10-31 01395614 d:ComputerEquipment 2022-10-31 01395614 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01395614 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01395614 d:CurrentFinancialInstruments 2023-10-31 01395614 d:CurrentFinancialInstruments 2022-10-31 01395614 c:FRS102 2022-11-01 2023-10-31 01395614 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 01395614 c:FullAccounts 2022-11-01 2023-10-31 01395614 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01395614 2 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Company registration number: 01395614







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED






































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TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 


 
COMPANY INFORMATION


Directors
Mr C W Durant 
Mr P Goldthorpe 




Registered number
01395614



Registered office
2a London Avenue

Portsmouth

Hampshire

PO2 9BU




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
Lloyds Bank PLC
38 London Road

North End

Portsmouth

Hampshire

PO2 0LR





 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
REGISTERED NUMBER:01395614



STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
34,492
39,224

  
34,492
39,224

Current assets
  

Stocks
  
3,000
3,000

Debtors: amounts falling due within one year
 5 
524,509
82,656

Cash at bank and in hand
  
180,237
536,730

  
707,746
622,386

Creditors: amounts falling due within one year
 6 
(105,932)
(79,975)

Net current assets
  
 
 
601,814
 
 
542,411

Total assets less current liabilities
  
636,306
581,635

  

Provisions for liabilities
  

Deferred taxation
  
(5,554)
(6,746)

  
 
 
(5,554)
 
 
(6,746)

  

Net assets excluding pension asset
  
630,752
574,889

Net assets
  
630,752
574,889

Page 1

 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
REGISTERED NUMBER:01395614


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
2
2

Capital redemption reserve
  
98
98

Profit and loss account
  
630,652
574,789

  
630,752
574,889


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr C W Durant
Mr P Goldthorpe
Director
Director


Date: 2 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 


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

1.


General information

Taylor Durant (Electrical Contractors) Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 


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

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 


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

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis and using the straight line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing Balance
Office equipment
-
10%
Reducing Balance
Computer equipment
-
50%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term 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.

Page 5

 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 


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

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.14

Financial instruments

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 9).

Page 6

 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 


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

4.


Tangible fixed assets





Freehold property
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2022
11,000
75,364
9,987
10,791
107,142


Additions
-
-
1,472
1,262
2,734


Disposals
-
-
-
(8,558)
(8,558)



At 31 October 2023

11,000
75,364
11,459
3,495
101,318



Depreciation


At 1 November 2022
-
49,602
7,526
10,790
67,918


Charge for the year on owned assets
-
6,441
393
632
7,466


Disposals
-
-
-
(8,558)
(8,558)



At 31 October 2023

-
56,043
7,919
2,864
66,826



Net book value



At 31 October 2023
11,000
19,321
3,540
631
34,492



At 31 October 2022
11,000
25,762
2,461
1
39,224


5.


Debtors

2023
2022
£
£


Trade debtors
192,695
45,564

Other debtors
252,174
-

Prepayments and accrued income
79,640
37,092

524,509
82,656


Page 7

 


TAYLOR DURANT (ELECTRICAL CONTRACTORS) LIMITED
 


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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
38
425

Trade creditors
7,551
20,836

Corporation tax
51,564
33,078

Other taxation and social security
39,976
13,918

Other creditors
4,803
9,903

Accruals and deferred income
2,000
1,815

105,932
79,975



7.


Transactions with directors

At the year end within debtors due within one year were directors loans due to the company totalling £252,174 (2022: £Nil), the loans are undated and interest is charged at 2%.

 
Page 8