Company Registration No. 08966657 (England and Wales)
Taylor's Joinery (UK) Limited
Unaudited accounts
for the year ended 31 March 2024
Taylor's Joinery (UK) Limited
Unaudited accounts
Contents
Taylor's Joinery (UK) Limited
Company Information
for the year ended 31 March 2024
Company Number
08966657 (England and Wales)
Registered Office
Orchard House
Clyst St. Mary
Exeter
Devon
EX5 1BR
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Taylor's Joinery (UK) Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Taylor's Joinery (UK) Limited for the year ended
31 March 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
The Fresh Accountancy Company Limited
Chartered Accountants
Orchard House
Clyst St Mary
Exeter
Devon
EX5 1BR
1 May 2024
Taylor's Joinery (UK) Limited
Statement of financial position
as at 31 March 2024
Tangible assets
670,682
292,508
Cash at bank and in hand
-
5,632
Creditors: amounts falling due within one year
(119,265)
(108,318)
Net current liabilities
(66,905)
(89,522)
Total assets less current liabilities
603,777
202,986
Creditors: amounts falling due after more than one year
(246,844)
(276,844)
Provisions for liabilities
Net assets/(liabilities)
286,539
(73,858)
Called up share capital
101
101
Profit and loss account
286,438
(73,959)
Shareholders' funds
286,539
(73,858)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 August 2024 and were signed on its behalf by
James Taylor
Director
Company Registration No. 08966657
Taylor's Joinery (UK) Limited
Notes to the Accounts
for the year ended 31 March 2024
Taylor's Joinery (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 08966657. The registered office is Orchard House, Clyst St. Mary, Exeter, Devon, EX5 1BR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Taylor's Joinery (UK) Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At valuation
At valuation
At cost
At 1 April 2023
281,000
57,084
1,324
339,408
Revaluations
259,000
65,011
-
324,011
At 31 March 2024
540,000
130,000
1,324
671,324
At 1 April 2023
-
46,485
415
46,900
Charge for the year
-
-
227
227
Surplus on revaluation
-
(46,485)
-
(46,485)
At 31 March 2024
-
-
642
642
At 31 March 2024
540,000
130,000
682
670,682
At 31 March 2023
281,000
10,599
909
292,508
Carrying amount of land and buildings on cost basis
281,000
-
Carrying amount of plant & machinery on cost basis
18,504
-
Assets have been revalued in the year by the directors based on their estimate of market value.
Amounts falling due within one year
Accrued income and prepayments
20,023
1,005
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
75,879
39,298
Obligations under finance leases and hire purchase contracts
-
7,946
Trade creditors
709
27,743
Amounts owed to group undertakings and other participating interests
5,883
15,214
Taxes and social security
19,108
2,798
Loans from directors
-
12,853
Taylor's Joinery (UK) Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
246,844
276,844
9
Deferred taxation
2024
2023
Accelerated capital allowances
70,394
-
Charged to the profit and loss account
70,394
-
Provision at end of year
70,394
-
10
Average number of employees
During the year the average number of employees was 4 (2023: 3).