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REGISTERED NUMBER: 03958040 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

A P TAYLOR LIMITED

A P TAYLOR LIMITED (REGISTERED NUMBER: 03958040)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A P TAYLOR LIMITED

COMPANY INFORMATION
for the Year Ended 31 JULY 2023







DIRECTORS: Mr R Taylor
Mr L M Monger
Mr I Evans





SECRETARY: Mrs T A Taylor





REGISTERED OFFICE: 260 - 270
Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





BUSINESS ADDRESS: Unit 5 Arenson Centre
Arenson Way
Dunstable
Bedfordshire
LU5 5UL





REGISTERED NUMBER: 03958040 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

A P TAYLOR LIMITED (REGISTERED NUMBER: 03958040)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 114,391 58,470

CURRENT ASSETS
Stocks 1,516,240 892,689
Debtors 5 232,637 891,712
Cash at bank and in hand 1,253,387 1,235,370
3,002,264 3,019,771
CREDITORS
Amounts falling due within one year 6 1,701,275 1,566,740
NET CURRENT ASSETS 1,300,989 1,453,031
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,415,380

1,511,501

CREDITORS
Amounts falling due after more than one
year

7

(108,121

)

(312,500

)

PROVISIONS FOR LIABILITIES (22,873 ) (13,046 )
NET ASSETS 1,284,386 1,185,955

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,283,386 1,184,955
SHAREHOLDERS' FUNDS 1,284,386 1,185,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

A P TAYLOR LIMITED (REGISTERED NUMBER: 03958040)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:




Mr R Taylor - Director



Mr L M Monger - Director


A P TAYLOR LIMITED (REGISTERED NUMBER: 03958040)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 JULY 2023

1. STATUTORY INFORMATION

A P Taylor 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover represents the fair value of consideration received or receivable after any trade discounts and prompt settlement discounts, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on disposal of an asset is determined at the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery- 25% on reducing balance
Fixture and fittings- 10% on reducing balance
Motor vehicles- 25% on reducing balance
Computer Equipment- 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

A P TAYLOR LIMITED (REGISTERED NUMBER: 03958040)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Creditors
Short term creditors are measured at transaction price.

Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 34 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 66,428 67,534 21,150 68,140 223,252
Additions 16,289 312 69,975 3,096 89,672
At 31 July 2023 82,717 67,846 91,125 71,236 312,924
DEPRECIATION
At 1 August 2022 57,442 36,149 18,327 52,864 164,782
Charge for year 6,319 3,169 18,200 6,063 33,751
At 31 July 2023 63,761 39,318 36,527 58,927 198,533
NET BOOK VALUE
At 31 July 2023 18,956 28,528 54,598 12,309 114,391
At 31 July 2022 8,986 31,385 2,823 15,276 58,470

A P TAYLOR LIMITED (REGISTERED NUMBER: 03958040)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JULY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 69,975
At 31 July 2023 69,975
DEPRECIATION
Charge for year 17,494
At 31 July 2023 17,494
NET BOOK VALUE
At 31 July 2023 52,481

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 104,529 137,377
Other debtors 29,368 651
Prepayments and accrued income 98,740 753,684
232,637 891,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 250,000 250,000
Hire purchase contracts (see note 8) 8,116 -
Trade creditors 805,985 586,870
Corporation tax 181,045 205,050
Taxation and social security 26,895 25,293
VAT 288,870 297,256
Other creditors 125,048 183,859
Director's current account 148 5,696
Accrued expenses 15,168 12,716
1,701,275 1,566,740

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 62,500 312,500
Hire purchase contracts (see note 8) 45,621 -
108,121 312,500

A P TAYLOR LIMITED (REGISTERED NUMBER: 03958040)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 JULY 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 8,116 -
Between one and five years 45,621 -
53,737 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 318,777 325,589
Between one and five years 986,296 1,048,406
1,305,073 1,373,995

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 312,500 562,500

A loan of £312,500 (2022: £562,500) included within bank loans is secured by a fixed and floating charge which covers all assets or undertaking of the company.

Hire purchase agreements are secured against the assets acquired.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R Taylor.