REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
C M Taylor Holdings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
C M Taylor Holdings Limited |
C M Taylor Holdings Limited (Registered number: 10987941) |
Contents of the Financial Statements |
for the year ended 31 January 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
C M Taylor Holdings Limited |
Company Information |
for the year ended 31 January 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Datum House |
Electra Way |
Crewe |
Cheshire |
CW1 6ZF |
C M Taylor Holdings Limited (Registered number: 10987941) |
Statement of Financial Position |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors: amounts falling due within one year | 8 |
Debtors: amounts falling due after more than one year |
8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 14 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
C M Taylor Holdings Limited (Registered number: 10987941) |
Statement of Financial Position - continued |
31 January 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
C M Taylor Holdings Limited (Registered number: 10987941) |
Notes to the Financial Statements |
for the year ended 31 January 2024 |
1. | STATUTORY INFORMATION |
HF Angling Limited ('The Company') is primarily engaged in the sale of angling supplies. |
The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Unit 1a, Alexandra Business Park, Gresty Lane, Crewe, Cheshire, CW2 5DD. The registered number can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Summary of significant accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented, unless otherwise stated. |
Basis of preparation |
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006. |
Going concern |
No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the director. Therefore, the director considers it appropriate to prepare the financial statements on the going concern basis. |
Turnover |
Revenue (described as turnover) is the value of goods (net of VAT) provided to customers during the year. Revenue is recognised on the date goods are despatched. |
Intangible assets |
Intangible assets are initially measured at cost. after initial recognition, intangible assets are measure at cost less any accumulated amortisation and any accumulated impairment losses. |
Website costs are being amortised evenly over their estimated useful life of 5 years once the website has become live. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
No depreciation is charged on short leasehold expenditure as the residual value on the expiry of the lease is equal to the cost. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). |
C M Taylor Holdings Limited (Registered number: 10987941) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
3. | ACCOUNTING POLICIES - continued |
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 end of the financial year. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the end of the financial year. |
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. |
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. |
Impairment of assets |
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
C M Taylor Holdings Limited (Registered number: 10987941) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
5. | INTANGIBLE FIXED ASSETS |
Website |
costs |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
AMORTISATION |
At 1 February 2023 |
Amortisation for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
7. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
8. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
C M Taylor Holdings Limited (Registered number: 10987941) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
8. | DEBTORS - continued |
2024 | 2023 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Trade creditors |
Taxation and social security |
Other creditors |
Amounts owed to related parties are unsecured, interest free and payable on demand. |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 11) |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 11,529 | 14,172 |
11. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years | - |
C M Taylor Holdings Limited (Registered number: 10987941) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
11. | LOANS - continued |
2024 | 2023 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 11,529 | 14,172 |
12. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
13. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
The other loans are personally guaranteed by the director. |
14. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | - | 2,499 |
Deferred |
tax |
£ |
Balance at 1 February 2023 |
Credit to Income Statement during year | ( |
) |
Recognition of deferred |
tax asset | 3,010 |
Balance at 31 January 2024 |
C M Taylor Holdings Limited (Registered number: 10987941) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
15. | RELATED PARTY DISCLOSURES |
Transactions with related parties during the year and balances outstanding at the end of the reporting period were as follows: |
Entities that have an interest in the company: |
2024 | 2023 |
£ | £ |
Management charges payable to entities | 5,287 | 5,620 |
Amounts owed to entities | 802 | 473 |
16. | POST BALANCE SHEET EVENTS |
On 7 February 2024 the company purchased 53,958 Preference £1 shares for £53,958. These shares were cancelled following the purchase. |
On 8 February 2024 the company sold its trade and certain assets for total consideration of £206,006. |
As at the date of signing these financial statements the director is considering new business opportunities for the company. |