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Registration number: 06407764

Ros Taylor Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Ros Taylor Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Ros Taylor Company Limited

Company Information

Directors

Mr Matthew Roberts

Mr Russell Albert Burt

Company secretary

Mr Russell Albert Burt

Registered office

Hollinwood Business Centre
Albert Street
Hollinwood
Failsworth
Lancashire
OL8 3QL

Accountants

Stewart & Cumming Ltd
31-33 Bridge Street
Musselburgh
Midlothian
EH21 6AA

 

Ros Taylor Company Limited

(Registration number: 06407764)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,670,793

2,670,793

Tangible assets

5

68,430

68,430

 

2,739,223

2,739,223

Current assets

 

Debtors

6

1,102,492

1,102,491

Cash at bank and in hand

 

928

928

 

1,103,420

1,103,419

Creditors: Amounts falling due within one year

7

(538,740)

(1,114,192)

Net current assets/(liabilities)

 

564,680

(10,773)

Total assets less current liabilities

 

3,303,903

2,728,450

Creditors: Amounts falling due after more than one year

7

(2,633,512)

(2,058,059)

Net assets

 

670,391

670,391

Capital and reserves

 

Called up share capital

100

100

Retained earnings

670,291

670,291

Shareholders' funds

 

670,391

670,391

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

 

Ros Taylor Company Limited

(Registration number: 06407764)
Balance Sheet as at 31 August 2023

.........................................
Mr Russell Albert Burt
Company secretary and director

 

Ros Taylor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hollinwood Business Centre
Albert Street
Hollinwood
Failsworth
Lancashire
OL8 3QL
England

These financial statements were authorised for issue by the Board on 27 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Ros Taylor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Reducing balance

Fixtures and fittings

10% Reducing balance

Computer equipment

10% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Internally generated software and branding

Fixed charge

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Ros Taylor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Ros Taylor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 61).

 

Ros Taylor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 September 2022

2,867,176

2,867,176

At 31 August 2023

2,867,176

2,867,176

Amortisation

At 1 September 2022

196,383

196,383

At 31 August 2023

196,383

196,383

Carrying amount

At 31 August 2023

2,670,793

2,670,793

At 31 August 2022

2,670,793

2,670,793

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 September 2022

8,372

38,607

34,878

14,725

At 31 August 2023

8,372

38,607

34,878

14,725

Depreciation

At 1 September 2022

-

11,001

15,679

1,472

At 31 August 2023

-

11,001

15,679

1,472

Carrying amount

At 31 August 2023

8,372

27,606

19,199

13,253

At 31 August 2022

8,372

27,606

19,199

13,253

 

Ros Taylor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Total
£

Cost or valuation

At 1 September 2022

96,582

At 31 August 2023

96,582

Depreciation

At 1 September 2022

28,152

At 31 August 2023

28,152

Carrying amount

At 31 August 2023

68,430

At 31 August 2022

68,430

Included within the net book value of land and buildings above is £8,372 (2022 - £8,372) in respect of long leasehold land and buildings.
 

6

Debtors

Current

2023
£

2022
£

Other debtors

1,102,492

1,102,491

 

1,102,492

1,102,491

 

Ros Taylor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

433

433

Trade creditors

 

163,813

519,689

Taxation and social security

 

439,772

527,915

Accruals and deferred income

 

-

74,237

Other creditors

 

(65,278)

(8,082)

 

538,740

1,114,192

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

600,422

600,422

Other non-current financial liabilities

 

2,033,090

1,457,637

 

2,633,512

2,058,059

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

577,863

577,863

Other borrowings

22,559

22,559

600,422

600,422

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

433

433

9

Dividends

2023

2022

£

£