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REGISTERED NUMBER: 03373595 (England and Wales)












J.B. TAYLOR CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






J.B. TAYLOR CONSTRUCTION LIMITED (REGISTERED NUMBER: 03373595)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.B. TAYLOR CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J B Taylor
Mrs M Taylor
K Taylor
A Taylor





SECRETARY: Mrs M Taylor





REGISTERED OFFICE: Sycamore Farm
Holmfield Lane
Orby
Skegness
Lincolnshire
PE24 5JB





REGISTERED NUMBER: 03373595 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Skegness)
Chartered Certified Accountants
26 Ida Road
Skegness
Lincolnshire
PE25 2AR

J.B. TAYLOR CONSTRUCTION LIMITED (REGISTERED NUMBER: 03373595)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 92,519 97,005

CURRENT ASSETS
Stocks 4 61,344 81,882
Debtors 5 1,180,653 1,210,779
Cash at bank and in hand 1,126,888 1,024,415
2,368,885 2,317,076
CREDITORS
Amounts falling due within one year 6 293,730 462,170
NET CURRENT ASSETS 2,075,155 1,854,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,167,674

1,951,911

PROVISIONS FOR LIABILITIES 21,288 18,430
NET ASSETS 2,146,386 1,933,481

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,145,386 1,932,481
SHAREHOLDERS' FUNDS 2,146,386 1,933,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J.B. TAYLOR CONSTRUCTION LIMITED (REGISTERED NUMBER: 03373595)

BALANCE SHEET - continued
30 NOVEMBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





J B Taylor - Director


J.B. TAYLOR CONSTRUCTION LIMITED (REGISTERED NUMBER: 03373595)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value.

Work in progress and finished goods - cost of raw materials and labour together with attributable overheads.

Net realisable value is based on the estimated selling price, less further costs required to complete the contractual obligation..

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

J.B. TAYLOR CONSTRUCTION LIMITED (REGISTERED NUMBER: 03373595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. ACCOUNTING POLICIES - continued

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 23 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022 4,300 179,769 21,436
Additions - 8,222 -
At 30 November 2023 4,300 187,991 21,436
DEPRECIATION
At 1 December 2022 904 99,858 12,262
Charge for year 340 13,218 1,377
At 30 November 2023 1,244 113,076 13,639
NET BOOK VALUE
At 30 November 2023 3,056 74,915 7,797
At 30 November 2022 3,396 79,911 9,174

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 15,582 13,279 234,366
Additions - 3,035 11,257
At 30 November 2023 15,582 16,314 245,623
DEPRECIATION
At 1 December 2022 15,359 8,978 137,361
Charge for year 57 751 15,743
At 30 November 2023 15,416 9,729 153,104
NET BOOK VALUE
At 30 November 2023 166 6,585 92,519
At 30 November 2022 223 4,301 97,005

J.B. TAYLOR CONSTRUCTION LIMITED (REGISTERED NUMBER: 03373595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. STOCKS
2023 2022
£    £   
Stocks 61,344 81,882

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 847,304 805,558
Amounts recoverable on contract 260,467 266,484
Other debtors 72,882 138,737
1,180,653 1,210,779

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 114,832 254,104
Taxation and social security 110,716 117,468
Other creditors 68,182 90,598
293,730 462,170

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
J B Taylor and Mrs M Taylor
Balance outstanding at start of year (2,643 ) 45,732
Amounts advanced 1,759 15,625
Amounts repaid (10,000 ) (64,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,884 ) (2,643 )

8. RELATED PARTY DISCLOSURES

During the year, J B Taylor a director of the Company also carried on in business as a sole trader. The nature of the amounts transacted between them is as follows:-

Hire of Equipment charged to the Company by J B Taylor at a normal commercial rate equates to £110,000 (2022 - £110,000).

At the end of the year amounts totalling £31,602 were owed by the sole trader business to the Company. No interest was charged on the outstanding amount (2022 - £102,132).

J.B. TAYLOR CONSTRUCTION LIMITED (REGISTERED NUMBER: 03373595)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


9. ULTIMATE CONTROLLING PARTY

During the year to the 30th November 2022, Mr J B Taylor, Mrs M Taylor, Mr K Taylor and Mr A Taylor were the sole directors and shareholders of J B Taylor (Construction) Limited, and were therefore in ultimate control of the Company.