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Taylor Property Development Group Ltd

Unaudited Financial Statements for the Year Ended 31 May 2024






Taylor Property Development Group Ltd (Registered number: 10780527)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Taylor Property Development Group Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: C J Taylor





REGISTERED OFFICE: 48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG





REGISTERED NUMBER: 10780527 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

Taylor Property Development Group Ltd (Registered number: 10780527)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 432 9,240
Investment property 5 1,337,500 1,035,271
1,337,932 1,044,511

CURRENT ASSETS
Debtors 6 19,044 2,995
Cash at bank 2,410 3,947
21,454 6,942
CREDITORS
Amounts falling due within one year 7 73,479 88,424
NET CURRENT LIABILITIES (52,025 ) (81,482 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,285,907

963,029

CREDITORS
Amounts falling due after more than one
year

8

(870,276

)

(575,797

)

PROVISIONS FOR LIABILITIES (101,974 ) (92,814 )
NET ASSETS 313,657 294,418

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 9 305,677 273,175
Retained earnings 7,978 21,241
313,657 294,418

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Taylor Property Development Group Ltd (Registered number: 10780527)

Balance Sheet - continued
31 May 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 10 October 2024 and were signed by:





C J Taylor - Director


Taylor Property Development Group Ltd (Registered number: 10780527)

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

1. STATUTORY INFORMATION

Taylor Property Development Group Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 3 (2023 - 1 ) .

Taylor Property Development Group Ltd (Registered number: 10780527)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 11,860
Additions 4,329
Disposals (14,580 )
At 31 May 2024 1,609
DEPRECIATION
At 1 June 2023 2,620
Charge for year 144
Eliminated on disposal (1,587 )
At 31 May 2024 1,177
NET BOOK VALUE
At 31 May 2024 432
At 31 May 2023 9,240

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,035,271
Additions 258,892
Revaluations 43,337
At 31 May 2024 1,337,500
NET BOOK VALUE
At 31 May 2024 1,337,500
At 31 May 2023 1,035,271

Investment properties were valued using market data by the director on 31/05/2024.
.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 19,044 2,995

Taylor Property Development Group Ltd (Registered number: 10780527)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,562 11,109
Hire purchase contracts 1,927 1,722
Trade creditors 16,517 13,110
Taxation and social security 8,335 3,835
Other creditors 30,138 58,648
73,479 88,424

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 866,836 570,938
Hire purchase contracts 3,440 4,859
870,276 575,797

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 853,530 562,052

9. RESERVES
Fair
value
reserve
£   
At 1 June 2023 273,175
Revaluation reserve 32,502

At 31 May 2024 305,677