Registered number
11530455
8 Taylor Close Limited
Filleted Accounts
31 August 2023
Whiteside and Davies Accountants
158 Cromwell Road
Salford
M6 6DE
8 Taylor Close Limited
Registered number: 11530455
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 247,552 247,552
Current assets
Cash at bank and in hand 3,136 4,068
Creditors: amounts falling due within one year 4 (99,390) (100,240)
Net current liabilities (96,254) (96,172)
Total assets less current liabilities 151,298 151,380
Creditors: amounts falling due after more than one year 5 (173,000) (173,000)
Net liabilities (21,702) (21,620)
Capital and reserves
Called up share capital 1 1
Profit and loss account (21,703) (21,621)
Shareholder's funds (21,702) (21,620)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Joseph Gluck
Director
Approved by the board on 28 August 2024
8 Taylor Close Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2022 247,552
At 31 August 2023 247,552
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 247,552
At 31 August 2022 247,552
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 99,390 100,240
5 Creditors: amounts falling due after one year 2023 2022
£ £
Long-term Mortgage 173,000 173,000
6 Other information
8 Taylor Close Limited is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
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