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COMPANY REGISTRATION NUMBER: 04702269
Martin Taylor Landscape Limited
Filleted Unaudited Financial Statements
30 November 2023
Martin Taylor Landscape Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
25,966
34,622
Current assets
Debtors
6
28,833
35,717
Cash at bank and in hand
325,798
307,313
---------
---------
354,631
343,030
Creditors: amounts falling due within one year
7
168,276
179,725
---------
---------
Net current assets
186,355
163,305
---------
---------
Total assets less current liabilities
212,321
197,927
Provisions
Taxation including deferred tax
6,389
8,519
---------
---------
Net assets
205,932
189,408
---------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
205,832
189,308
---------
---------
Shareholders funds
205,932
189,408
---------
---------
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Martin Taylor Landscape Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
M. R. Taylor
Director
Company registration number: 04702269
Martin Taylor Landscape Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6, The Linen Yard, South Street, Crewkerne, TA18 8AB.The principal place of business is Reeds Barn Farm, Hawkchurch, Axminster, Devon, EX13 5UN.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102 taking advantage of the disclosure exemptions of FRS102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
25% reducing balance
Tractors
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Tangible assets
Plant and machinery
Tractors
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2022 and 30 November 2023
73,506
37,500
55,579
166,585
--------
--------
--------
---------
Depreciation
At 1 December 2022
66,669
36,609
28,685
131,963
Charge for the year
1,710
223
6,723
8,656
--------
--------
--------
---------
At 30 November 2023
68,379
36,832
35,408
140,619
--------
--------
--------
---------
Carrying amount
At 30 November 2023
5,127
668
20,171
25,966
--------
--------
--------
---------
At 30 November 2022
6,837
891
26,894
34,622
--------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
28,494
29,376
Other debtors
339
6,341
--------
--------
28,833
35,717
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,187
4,757
Corporation tax
7,518
7,372
Social security and other taxes
1,701
Other creditors
152,870
167,596
---------
---------
168,276
179,725
---------
---------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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