2023-03-012024-02-292024-02-29false09462352TAYLOR RIDING CONSTRUCTION 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TAYLOR RIDING CONSTRUCTION LIMITED

Registered Number
09462352
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

TAYLOR RIDING CONSTRUCTION LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

ASPDEN, Karen Celia
TAYLOR, Adrian John
TAYLOR, Lisa Jane

Registered Address

Unit 4 Vermont Court Bradley Lane
Standish
Wigan
WN6 0FJ

Registered Number

09462352 (England and Wales)
TAYLOR RIDING CONSTRUCTION LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets393,24767,446
93,24767,446
Current assets
Debtors5456,338459,629
Cash at bank and on hand100,51833,677
556,856493,306
Creditors amounts falling due within one year6(260,748)(235,984)
Net current assets (liabilities)296,108257,322
Total assets less current liabilities389,355324,768
Creditors amounts falling due after one year7(153,758)(162,665)
Provisions for liabilities10(23,312)(12,815)
Net assets212,285149,288
Capital and reserves
Called up share capital33
Profit and loss account212,282149,285
Shareholders' funds212,285149,288
The financial statements were approved and authorised for issue by the Board of Directors on 30 August 2024, and are signed on its behalf by:
TAYLOR, Adrian John
Director
Registered Company No. 09462352
TAYLOR RIDING CONSTRUCTION LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Vehicles5
Office Equipment5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other 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.
Trade and other 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.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year1112
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 March 2329,14670,3484,354103,848
Additions24,99527,599-52,594
Disposals(4,101)(5,800)-(9,901)
At 29 February 2450,04092,1474,354146,541
Depreciation and impairment
At 01 March 2312,49420,7083,20036,402
Charge for year6,10415,886-21,990
On disposals(3,260)(1,838)-(5,098)
At 29 February 2415,33834,7563,20053,294
Net book value
At 29 February 2434,70257,3911,15493,247
At 28 February 2316,65249,6401,15467,446
Included within the fixed assets above are assets that are held under hire purchase.
4.Stocks
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables256,656142,570
Amounts owed by associates and joint ventures / participating interests51,9388,632
Other debtors140,364253,065
Prepayments and accrued income7,38055,362
Total456,338459,629
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables115,14875,630
Bank borrowings and overdrafts32,26478,042
Taxation and social security64,49247,834
Finance lease and HP contracts19,91914,107
Other creditors20,85317,603
Accrued liabilities and deferred income8,0722,768
Total260,748235,984
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts99,930132,306
Other creditors53,82830,359
Total153,758162,665
8.Secured creditors
Included within the creditors are assets held under hire purchase which are secured on the assets they are funding.
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts53,82830,358
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)23,31212,815
Total23,31212,815
11.Directors advances, credits and guarantees
At the balance sheet date the company was owed £120,938 (2023: £8,632) which was interest free & repayable on demand.
12.Related party transactions
At the balance sheet date the company was owed £154,249 (2023: £235,750) from Dact Developments Ltd. Adrian Taylor is a director and shareholder of Dact Developments Ltd