Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3102023-01-01falseproeprty development0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12395504 2023-01-01 2023-12-31 12395504 2022-01-01 2022-12-31 12395504 2023-12-31 12395504 2022-12-31 12395504 c:Director2 2023-01-01 2023-12-31 12395504 d:FurnitureFittings 2023-01-01 2023-12-31 12395504 d:FurnitureFittings 2023-12-31 12395504 d:FurnitureFittings 2022-12-31 12395504 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12395504 d:CurrentFinancialInstruments 2023-12-31 12395504 d:CurrentFinancialInstruments 2022-12-31 12395504 d:Non-currentFinancialInstruments 2023-12-31 12395504 d:Non-currentFinancialInstruments 2022-12-31 12395504 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12395504 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12395504 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12395504 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12395504 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 12395504 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12395504 d:ShareCapital 2023-12-31 12395504 d:ShareCapital 2022-12-31 12395504 d:RetainedEarningsAccumulatedLosses 2023-12-31 12395504 d:RetainedEarningsAccumulatedLosses 2022-12-31 12395504 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 12395504 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 12395504 c:FRS102 2023-01-01 2023-12-31 12395504 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12395504 c:FullAccounts 2023-01-01 2023-12-31 12395504 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12395504 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12395504









TAYLEN DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TAYLEN DEVELOPMENTS LIMITED
REGISTERED NUMBER: 12395504

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,328
3,131

  
3,328
3,131

Current assets
  

Stocks
 5 
376,704
695,909

Debtors: amounts falling due within one year
 6 
16
-

Cash at bank and in hand
 7 
49,577
222

  
426,297
696,131

Creditors: amounts falling due within one year
 8 
(244,769)
(470,902)

Net current assets
  
 
 
181,528
 
 
225,229

Total assets less current liabilities
  
184,856
228,360

Creditors: amounts falling due after more than one year
 9 
(204,987)
(265,944)

  

Net liabilities
  
(20,131)
(37,584)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(20,231)
(37,684)

  
(20,131)
(37,584)


Page 1

 
TAYLEN DEVELOPMENTS LIMITED
REGISTERED NUMBER: 12395504
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 September 2024.




................................................
Jonathan Taylor
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TAYLEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Taylen Developments Limited is a private company, limited by its share capital, incorporated in England.  The principal activity of the Company was that of property development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis, with the support of the directors pledged for the foreseeable future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
TAYLEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
TAYLEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 5

 
TAYLEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
4,399


Additions
1,029



At 31 December 2023

5,428



Depreciation


At 1 January 2023
1,268


Charge for the year on owned assets
832



At 31 December 2023

2,100



Net book value



At 31 December 2023
3,328



At 31 December 2022
3,131


5.


Stocks

2023
2022
£
£

Work in progress
376,704
695,909

376,704
695,909



6.


Debtors

2023
2022
£
£


Other debtors
16
-

16
-


Page 6

 
TAYLEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
49,577
222

49,577
222



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
400
-

Other creditors
242,887
469,492

Accruals and deferred income
1,482
1,410

244,769
470,902



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
204,987
265,944

204,987
265,944


The bank loan is secured.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
204,987
265,944



204,987
265,944


Page 7

 
TAYLEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
49,577
222




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Controlling party

There is no overall controlling party.

 
Page 8