7 false false false false false false false false false false true false false true false true false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 900,000 900,000 6,127 1,329 7,456 6,127 266 6,393 1,063 xbrli:pure xbrli:shares iso4217:GBP 07686939 2022-12-01 2023-11-30 07686939 2023-11-30 07686939 2022-11-30 07686939 2021-12-01 2022-11-30 07686939 2022-11-30 07686939 2021-11-30 07686939 core:NetGoodwill 2022-12-01 2023-11-30 07686939 bus:Director2 2022-12-01 2023-11-30 07686939 core:NetGoodwill 2023-11-30 07686939 core:WithinOneYear 2023-11-30 07686939 core:WithinOneYear 2022-11-30 07686939 core:AfterOneYear 2023-11-30 07686939 core:AfterOneYear 2022-11-30 07686939 core:UKTax 2022-12-01 2023-11-30 07686939 core:UKTax 2021-12-01 2022-11-30 07686939 core:ShareCapital 2023-11-30 07686939 core:ShareCapital 2022-11-30 07686939 core:RetainedEarningsAccumulatedLosses 2023-11-30 07686939 core:RetainedEarningsAccumulatedLosses 2022-11-30 07686939 bus:SmallEntities 2022-12-01 2023-11-30 07686939 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07686939 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07686939 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07686939 bus:FullAccounts 2022-12-01 2023-11-30 07686939 core:ComputerEquipment 2022-12-01 2023-11-30 07686939 core:ComputerEquipment 2022-11-30 07686939 core:ComputerEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 07686939
TAYLOR GOODCHILD LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2023
TAYLOR GOODCHILD LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
7
1,063
CURRENT ASSETS
Debtors
8
629,327
661,271
Cash at bank and in hand
63,286
29,298
---------
---------
692,613
690,569
CREDITORS: amounts falling due within one year
9
( 135,820)
( 146,112)
---------
---------
NET CURRENT ASSETS
556,793
544,457
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
557,856
544,457
CREDITORS: amounts falling due after more than one year
10
( 15,000)
( 25,833)
---------
---------
NET ASSETS
542,856
518,624
---------
---------
TAYLOR GOODCHILD LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
2023
2022
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
542,756
518,524
---------
---------
SHAREHOLDERS FUNDS
542,856
518,624
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 August 2024 , and are signed on behalf of the board by:
L Goodchild
Director
Company registration number: 07686939
TAYLOR GOODCHILD 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 10 Woodlands Road, Middlesbrough, Cleveland, TS1 3BE.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, '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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful ecomonic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 3 Years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Equipment
-
20% straight line
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 7 (2022: 8 ).
5. TAX ON PROFIT
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
32,698
30,266
Adjustments in respect of prior periods
179
( 48)
--------
--------
Total current tax
32,877
30,218
--------
--------
--------
--------
Tax on profit
32,877
30,218
--------
--------
6. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
900,000
---------
Amortisation
At 1 December 2022 and 30 November 2023
900,000
---------
Carrying amount
At 30 November 2023
---------
At 30 November 2022
---------
7. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 December 2022
6,127
6,127
Additions
1,329
1,329
-------
-------
At 30 November 2023
7,456
7,456
-------
-------
Depreciation
At 1 December 2022
6,127
6,127
Charge for the year
266
266
-------
-------
At 30 November 2023
6,393
6,393
-------
-------
Carrying amount
At 30 November 2023
1,063
1,063
-------
-------
At 30 November 2022
-------
-------
8. DEBTORS
2023
2022
£
£
Other debtors
629,327
661,271
---------
---------
9. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
166
Corporation tax
32,698
30,266
Social security and other taxes
26,079
37,591
Other creditors
66,877
68,255
---------
---------
135,820
146,112
---------
---------
10. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,000
25,833
--------
--------