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Registration number: 11220540

E.Taylor Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

E.Taylor Consulting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

E.Taylor Consulting Limited

Company Information

Director

Mr E A Taylor

Registered office

The Mill Pury Hill Business Park
Alderton Road
Towcester
Northamptonshire
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

E.Taylor Consulting Limited

(Registration number: 11220540)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,747,181

3,206,669

Current assets

 

Debtors

5

6,736,470

1,291,987

Cash at bank and in hand

 

92,549

3,264,855

 

6,829,019

4,556,842

Creditors: Amounts falling due within one year

6

(7,315,868)

(900,794)

Net current (liabilities)/assets

 

(486,849)

3,656,048

Total assets less current liabilities

 

8,260,332

6,862,717

Creditors: Amounts falling due after more than one year

6

(887,750)

(70,110)

Net assets

 

7,372,582

6,792,607

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

1,338,845

1,338,845

Retained earnings

6,033,637

5,453,662

Shareholders' funds

 

7,372,582

6,792,607

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 April 2024
 

 

E.Taylor Consulting Limited

(Registration number: 11220540)
Balance Sheet as at 29 February 2024

.........................................
Mr E A Taylor
Director

 

E.Taylor Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Mill Pury Hill Business Park
Alderton Road
Towcester
Northamptonshire
NN12 7LS
England

These financial statements were authorised for issue by the director on 15 April 2024.

The company registration number is 11220540

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

E.Taylor Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% reducing balance

Motor Vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

E.Taylor Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight line basis.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

E.Taylor Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Properties under construction
 £

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

1,966,376

-

1,401,800

-

96,553

3,464,729

Additions

-

4,897,922

1,184,000

1,391

17,000

6,100,313

Disposals

(71,265)

-

-

-

-

(71,265)

At 29 February 2024

1,895,111

4,897,922

2,585,800

1,391

113,553

9,493,777

Depreciation

At 1 March 2023

-

-

238,749

-

19,311

258,060

Charge for the year

-

-

469,410

278

18,848

488,536

At 29 February 2024

-

-

708,159

278

38,159

746,596

Carrying amount

At 29 February 2024

1,895,111

4,897,922

1,877,641

1,113

75,394

8,747,181

At 28 February 2023

1,966,376

-

1,163,051

-

77,242

3,206,669

Included within the net book value of land and buildings above is £1,895,111 (2023 - £1,966,376) in respect of freehold land and buildings.
 

 

E.Taylor Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

738,672

30,571

Other debtors

5,997,798

1,261,416

 

6,736,470

1,291,987

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

431,143

121,805

Trade creditors

 

4,938,486

60,191

Taxation and social security

 

555,177

700,171

Accruals and deferred income

 

5,176

5,435

Other creditors

 

1,385,886

13,192

 

7,315,868

900,794

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

887,750

70,110

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

E.Taylor Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

887,750

70,110

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

431,143

121,805