Registered number
05669160
Taylor Wade Limited
Filleted Accounts
31 March 2024
Taylor Wade Limited
Registered number: 05669160
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 72,107 102,634
Investments 4 150 51
72,257 102,685
Current assets
Debtors 5 134,146 6,000
Cash at bank and in hand 1,596 75,214
135,742 81,214
Creditors: amounts falling due within one year 6 (4,947) (2,073)
Net current assets 130,795 79,141
Total assets less current liabilities 203,052 181,826
Creditors: amounts falling due after more than one year 7 (100,465) (70,120)
Net assets 102,587 111,706
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 20,450 44,750
Profit and loss account 82,037 66,856
Shareholders' funds 102,587 111,706
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 members have 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 D S Williams
Director
Approved by the board on 2 September 2024
Taylor Wade Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
Investment property
In accordance with SSAP 19, investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve and no depreciation is provided in respect of freehold properties. The director considers that this accounting policy results in the financial statements giving a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which otherwise might have been shown cannot be separately identified or quantified.
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 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 100,000 4,000 104,000
Fair value adjustment (30,000) - (30,000)
At 31 March 2024 70,000 4,000 74,000
Depreciation
At 1 April 2023 - 1,366 1,366
Charge for the year - 527 527
At 31 March 2024 - 1,893 1,893
Net book value
At 31 March 2024 70,000 2,107 72,107
At 31 March 2023 100,000 2,634 102,634
4 Investments
Other
investments
£
Cost
At 1 April 2023 51
Additions 100
Disposals (1)
At 31 March 2024 150
5 Debtors 2024 2023
£ £
Deferred tax asset 5,700 -
Other debtors 128,446 6,000
134,146 6,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 3,963 1,161
Other creditors 984 912
4,947 2,073
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 100,465 70,120
8 Non distributable reserve 2024 2023
£ £
At 1 April 2023 44,750 44,750
Loss on revaluation of land and buildings (24,300) -
At 31 March 2024 20,450 44,750
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr D S Williams
Directors Loan Account (2,099) 2,200 (66,024) (65,923)
Mrs F M G Fletcher
Directors Loan Account (68,021) 33,504 (25) (34,542)
(70,120) 35,704 (66,049) (100,465)
10 Related party transactions
Taylor Wade Limited owns 50% of the shares of Williams Properties (Cardiff) Limited. During the year a loan was made to Williams Properties (Cardiff) Limited of £93,000.00. The balance owing at the year-end was £98,9500 (2023: £6,000). The loan is interest free and repayable on demand. Taylor Wade Limited owns 100% of the shares in Beca Properties Limited. At the year end Beca Properties Limited owed Taylor Wade Limited £29,496.
11 Controlling party
The company is controlled by the directors by virtue of their shareholding.
12 Other information
Taylor Wade Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Crocus Close
Rogerstone
Newport
Gwent
NP10 9LA
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