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REGISTERED NUMBER: 08503369 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Neil Taylor Insolvency Limited

Neil Taylor Insolvency Limited (Registered number: 08503369)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Neil Taylor Insolvency Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: N A Taylor





REGISTERED OFFICE: The Old Stables
Sutton Manor Farm
Bishop's Sutton
Alresford
Hampshire
SO24 0AA





REGISTERED NUMBER: 08503369 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
The Old Stables
Sutton Manor Farm
Bishop's Sutton
Alresford
Hampshire
SO24 0AA

Neil Taylor Insolvency Limited (Registered number: 08503369)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,713 11,200

CURRENT ASSETS
Stocks 476 574
Debtors 5 402,079 375,467
Cash at bank and in hand 98 1,619
402,653 377,660
CREDITORS
Amounts falling due within one year 6 361,191 404,158
NET CURRENT ASSETS/(LIABILITIES) 41,462 (26,498 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,175

(15,298

)

CREDITORS
Amounts falling due after more than one
year

7

(48,996

)

(55,500

)

PROVISIONS FOR LIABILITIES 9 (1,983 ) -
NET ASSETS/(LIABILITIES) 196 (70,798 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 96 (70,898 )
SHAREHOLDERS' FUNDS 196 (70,798 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Neil Taylor Insolvency Limited (Registered number: 08503369)

Balance Sheet - continued
31 August 2024


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 director and authorised for issue on 20 September 2024 and were signed by:





N A Taylor - Director


Neil Taylor Insolvency Limited (Registered number: 08503369)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Neil Taylor Insolvency 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.

The director considers the use of the going concern basis of accounting appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. The financial statements have therefore been prepared on a going concern basis. The director has confirmed that he will continue to support the company and will not recall any loans if it would render the company unable to pay its liabilities as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% reducing balance basis
Office equipment - 25% reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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.

Research and development
Expenditure on research and development is written off to the Profit and Loss Account in the period in which it is incurred. Any credits or corporation tax reductions arising from research and development claims are included in the accounts as they become due.

Neil Taylor Insolvency Limited (Registered number: 08503369)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 758 43,051 43,809
Additions - 1,746 1,746
At 31 August 2024 758 44,797 45,555
DEPRECIATION
At 1 September 2023 684 31,925 32,609
Charge for year 15 3,218 3,233
At 31 August 2024 699 35,143 35,842
NET BOOK VALUE
At 31 August 2024 59 9,654 9,713
At 31 August 2023 74 11,126 11,200

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 96,073 79,654
Other debtors 67,805 67,805
Directors' current accounts 231,393 208,201
Deferred tax asset - 18,856
Prepayments 6,808 951
402,079 375,467

Neil Taylor Insolvency Limited (Registered number: 08503369)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,558 47,565
Other loans 136,088 155,555
BBLS (Bounce Back Loan Scheme) 10,000 10,000
Trade creditors 57,767 69,088
Corporation tax 47,920 27,263
Social security and other taxes 13,774 45,670
VAT 42,947 44,958
Other creditors 7,637 1,059
Accrued expenses 5,500 3,000
361,191 404,158

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans 41,496 38,000
BBLS (Bounce Back Loan Scheme) 7,500 17,500
48,996 55,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,250 9,250
Between one and five years 18,500 27,750
27,750 37,000

9. PROVISIONS FOR LIABILITIES
2024
£   
Deferred tax
Accelerated capital allowances 1,983

Deferred
tax
£   
Balance at 1 September 2023 (18,856 )
Accelerated capital allowances (145 )
Unrelieved trading losses 20,984
Balance at 31 August 2024 1,983

Neil Taylor Insolvency Limited (Registered number: 08503369)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

Transactions with Directors

The director maintains a loan account with the company. At the year end he owed the company £231,393 (2023 - £208,201). This loan is interest-free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is N A Taylor.