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Registered Number: 00180738
England and Wales

 

 

 

A.J.A. TAYLOR AND COMPANY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Accountants report
You consider that the company is exempt from an audit for the year ended 31 December 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income statement, statement of financial position, notes to the financial statements and detailed income statement from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Palmers Business Support Ltd
31 December 2023



....................................................
Palmers Business Support Ltd
Palmers Barn
Station Road, Long Marston
TRING
HP23 4QS
01 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 893,500    893,500 
Investments 4 6,000,100    5,284,270 
6,893,600    6,177,770 
Current assets      
Stocks 505,230    532,120 
Debtors: amounts falling due within one year 97,214    177,237 
Cash at bank and in hand (2,976)   (9,297)
599,468    700,060 
Creditors: amount falling due within one year (545,891)   (442,559)
Net current assets 53,577    257,501 
 
Total assets less current liabilities 6,947,177    6,435,271 
Creditors: amount falling due after more than one year (4,166,313)   (4,807,373)
Net assets 2,780,864    1,627,898 
 

Capital and reserves
     
Called up share capital 5 12,300    12,300 
Share premium account 9,120    9,120 
Reserves 1,898,561    1,003,773 
Profit and loss account 860,883    602,705 
Shareholders' funds 2,780,864    1,627,898 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 01 August 2024 and were signed on its behalf by:


-------------------------------
Jane Taylor
Director
2
General Information
A.J.A. Taylor and Company Limited is a private company, limited by shares, registered in England and Wales, registration number 00180738, registration address Palmers Barn Station Road,, Long Marston, Tring, Hertfordshire,, England, HP23 4QS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Freehold Land & Buildings have adopted the Revaluation Model.
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment property is carried at fair value determined annually by the Directors or professional valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, Iocation or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.
 
Going forwards each year, the valuation of the investment property can be considered by the Directors on the basis set out above and a formal valuation is only required where considered necessary. Any future increase in valuation will need to be entered through the profit and loss account as Gains arising on increase in investment property valuation.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 January 2023 893,500    893,500 
Additions  
Disposals  
At 31 December 2023 893,500    893,500 
Depreciation
At 01 January 2023  
Charge for year  
On disposals  
At 31 December 2023  
Net book values
Closing balance as at 31 December 2023 893,500    893,500 
Opening balance as at 01 January 2023 893,500    893,500 

Land & Buildings
During the year the Land and Buildings were revalued by the Directors based on an open market value basis.

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 5,284,270    5,284,270 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 715,830    715,830 
At 31 December 2023 6,000,100    6,000,100 
Investment Property Valuation
The property valuation of £5,284,170 was determined by Robert Cooper & Co. on 4th September 2018 based on an open market value for existing use, and in 2023, the property was again revalued at £6,000,100.

5.

Share Capital

Authorised
12,300 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
12,300 Class A shares of £1.00 each 12,300    12,300 
12,300    12,300 

3