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REGISTERED NUMBER: 06742859 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

TAYLORMADE FINANCE LTD

TAYLORMADE FINANCE LTD (REGISTERED NUMBER: 06742859)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TAYLORMADE FINANCE LTD

Company Information
for the Year Ended 30 November 2023







Directors: M J Gray
M P Clancy
I S Broadhead





Secretary: M J Gray





Registered office: 111 Piccadilly
Manchester
M1 2HY





Registered number: 06742859 (England and Wales)





Accountants: Haines Watts Manchester Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

TAYLORMADE FINANCE LTD (REGISTERED NUMBER: 06742859)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 114,171 11,885

Current assets
Debtors 6 12,914 26,629
Cash at bank 465,801 525,738
478,715 552,367
Creditors
Amounts falling due within one year 7 239,050 261,346
Net current assets 239,665 291,021
Total assets less current liabilities 353,836 302,906

Capital and reserves
Called up share capital 8 6 6
Capital redemption reserve 6 6
Retained earnings 353,824 302,894
Shareholders' funds 353,836 302,906

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2024 and were signed on its behalf by:





M P Clancy - Director


TAYLORMADE FINANCE LTD (REGISTERED NUMBER: 06742859)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. Statutory information

Taylormade Finance 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. 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.

Turnover
Turnover represents amounts invoiced during the year.

In respect of long term and contracts for ongoing services, turnover represents the value of work done in the year including estimates of amounts not invoiced. Turnover in respect of long term and contracts for ongoing services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities.


TAYLORMADE FINANCE LTD (REGISTERED NUMBER: 06742859)

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 Profit and Loss Account, 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
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 28 (2022 - 29 ) .

5. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 December 2022 35,907 - 11,900 47,807
Additions 2,765 105,398 5,204 113,367
At 30 November 2023 38,672 105,398 17,104 161,174
Depreciation
At 1 December 2022 31,529 - 4,393 35,922
Charge for year 2,414 4,392 4,275 11,081
At 30 November 2023 33,943 4,392 8,668 47,003
Net book value
At 30 November 2023 4,729 101,006 8,436 114,171
At 30 November 2022 4,378 - 7,507 11,885

TAYLORMADE FINANCE LTD (REGISTERED NUMBER: 06742859)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 12,914 26,629

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 16,816 34,776
Taxation and social security 129,616 140,663
Other creditors 92,618 85,907
239,050 261,346

8. Called up share capital

Allotted, issued and fully paid
Number Class Nominal 2023 2022
Value £ p £ p
270 Ordinary £0.01 2.70 2.70
10 Ordinary A £0.01 0.10 0.10
10 Ordinary B £0.01 0.10 0.10
10 Ordinary C £0.01 0.10 0.10
100 Ordinary D £0.01 1.00 1.00
100 Ordinary E £0.01 1.00 1.00
100 Ordinary F £0.01 1.00 1.00
6.00 6.00