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REGISTERED NUMBER: 11676349 (England and Wales)















Financial Statements

for the Period 1 February 2023 to 31 December 2023

for

Taylor Lane (Wales) Limited

Taylor Lane (Wales) Limited (Registered number: 11676349)






Contents of the Financial Statements
for the Period 1 February 2023 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Taylor Lane (Wales) Limited

Company Information
for the Period 1 February 2023 to 31 December 2023







DIRECTORS: J B Lane
P S Harris
S J Griffiths
L Hale
R P Dodyk
A Finch
B Johnson
B Pannell





SECRETARY: Ledge Services Limited





REGISTERED OFFICE: Cala House
54 The Causeway
Staines-Upon-Thames
Surrey
TW18 3AX





REGISTERED NUMBER: 11676349 (England and Wales)





AUDITORS: R J Francis & Co Limited
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Taylor Lane (Wales) Limited (Registered number: 11676349)

Balance Sheet
31 December 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 235,393 13,830

CURRENT ASSETS
Debtors 5 16,759 3,038,665
Cash at bank 39,391 33,262
56,150 3,071,927
CREDITORS
Amounts falling due within one year 6 574,702 3,362,195
NET CURRENT LIABILITIES (518,552 ) (290,268 )
TOTAL ASSETS LESS CURRENT LIABILITIES (283,159 ) (276,438 )

CREDITORS
Amounts falling due after more than one
year

7

(180,382

)

-

PROVISIONS FOR LIABILITIES (3,684 ) -
NET LIABILITIES (467,225 ) (276,438 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (468,225 ) (277,438 )
(467,225 ) (276,438 )

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 19 June 2024 and were signed on its behalf by:





J B Lane - Director


Taylor Lane (Wales) Limited (Registered number: 11676349)

Notes to the Financial Statements
for the Period 1 February 2023 to 31 December 2023

1. STATUTORY INFORMATION

Taylor Lane (Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 recognised at the fair value of the consideration received or receivable for sale of goods and services in the ordinary nature of the business, net of Value Added Tax. In the case of long term contracts, credit is taken appropriate to the stage of completion when the outcome of the contract can be ascertained with reasonable certainty.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the period 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 period 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.

Taylor Lane (Wales) Limited (Registered number: 11676349)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 33 (2023 - 32 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Office
property machinery equipment Totals
£    £    £    £   
COST
At 1 February 2023 - 12,504 8,368 20,872
Additions 211,412 34,457 - 245,869
At 31 December 2023 211,412 46,961 8,368 266,741
DEPRECIATION
At 1 February 2023 - 4,313 2,729 7,042
Charge for period 14,094 9,400 812 24,306
At 31 December 2023 14,094 13,713 3,541 31,348
NET BOOK VALUE
At 31 December 2023 197,318 33,248 4,827 235,393
At 31 January 2023 - 8,191 5,639 13,830

Fixed assets, included in the above, which are held under finance leases are as follows:
Leasehold Plant and
property machinery Totals
£    £    £   
COST
Additions 211,412 25,804 237,216
At 31 December 2023 211,412 25,804 237,216
DEPRECIATION
Charge for period 14,094 7,118 21,212
At 31 December 2023 14,094 7,118 21,212
NET BOOK VALUE
At 31 December 2023 197,318 18,686 216,004

Taylor Lane (Wales) Limited (Registered number: 11676349)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors - 3,033,937
Other debtors 16,759 4,728
16,759 3,038,665

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Finance leases (see note 8) 39,520 -
Trade creditors 52,568 462,371
Social security and other taxes 21,057 33,634
Pension 639 -
Net wages 12,260 -
Attachment of earnings 784 -
VAT 38,523 -
Related company loan 403,351 2,855,000
Directors' current accounts - 2,096
Accruals and deferred income 6,000 9,094
574,702 3,362,195

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Finance leases (see note 8) 180,382 -

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 32,393 -

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2023
£    £   
Net obligations repayable:
Within one year 39,520 -
Between one and five years 147,989 -
In more than five years 32,393 -
219,902 -

Taylor Lane (Wales) Limited (Registered number: 11676349)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 31 December 2023

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2023
£    £   
Within one year - 11,440
Between one and five years - 22,778
- 34,218

As of 1 May 2023, the date of acquisition of the Cala Group, all assets previously treated as operating leases have been accounted for as finance leases in line with group accounting policies.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

RJ Francis (Senior Statutory Auditor)
for and on behalf of R J Francis & Co Limited

10. RELATED PARTY DISCLOSURES

Taylor Lane Timber Frame Limited is a related company of Taylor Lanes (Wales) Limited, being part of the Cala Group. All transactions between the two companies are strictly at properly agreed commercial rates.

Included within the creditors total at note 8 are amounts due to Taylor Lane Timber Frame Limited totalling £403,351.

The following transactions with Taylor Lane Timber Frame Limited have occurred during the financial year as follows:-
Sales and work done £1,028,337
Rent payable £13,696
Management charges £95,000

11. ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

The immediate parent undertaking is Cala Management Limited.

The intermediate parent company, at which level these financial statements are consolidated, is Cala Group (Holdings) Limited. The consolidated financial statements of Cala Group (Holdings) Limited are available from Cala House, 54 The Causeway, Staines-Upon-Thames, Surrey, TW17 3AX.

The ultimate parent company for both of those entities is Legal & General Group Plc. The results of Taylor Lane (Wales) Limited are included in Legal & General Group Plc's consolidated financial statements. Copies of the accounts of the ultimate holding company, Legal & General Group Plc, are available at the Registered Office, One Coleman Street, London, EC2R 5AA, on the group website at www.legalandgeneralgroup.com or from the Company Secretary.