REGISTERED NUMBER: |
Financial Statements |
for the Period 1 February 2023 to 31 December 2023 |
for |
Taylor Lane (Wales) Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Office equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Leasehold | Plant and | Office |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 February 2023 |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 January 2023 |
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 |
At 31 December 2023 | 211,412 |
DEPRECIATION |
Charge for period | 14,094 |
At 31 December 2023 | 14,094 |
NET BOOK VALUE |
At 31 December 2023 | 197,318 |
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 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Finance leases (see note 8) |
Trade creditors |
Social security and other taxes |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2023 |
£ | £ |
Finance leases (see note 8) |
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 |
Between one and five years |
In more than five years |
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 |
Between one and five years |
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. |
for and on behalf of |
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. |