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REGISTERED NUMBER: 01119938 (England and Wales)

















TAYLOR & STAPLETON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






TAYLOR & STAPLETON LIMITED (REGISTERED NUMBER: 01119938)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TAYLOR & STAPLETON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: PS Stapleton
J E Stapleton
AMB Chapman





SECRETARY: J E Stapleton





REGISTERED OFFICE: Unit 3, The Woodyard
Old Knebworth Lane
Old Knebworth
Hertfordshire
SG3 6PY





REGISTERED NUMBER: 01119938 (England and Wales)





ACCOUNTANTS: Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

TAYLOR & STAPLETON LIMITED (REGISTERED NUMBER: 01119938)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,894 16,958

CURRENT ASSETS
Debtors 5 386,070 266,525
Cash at bank 209,214 206,055
595,284 472,580
CREDITORS
Amounts falling due within one year 6 237,347 204,120
NET CURRENT ASSETS 357,937 268,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,831

285,418

PROVISIONS FOR LIABILITIES 3,223 3,598
NET ASSETS 367,608 281,820

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 8 366,608 280,820
SHAREHOLDERS' FUNDS 367,608 281,820

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

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

The directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:



J E Stapleton - Director


TAYLOR & STAPLETON LIMITED (REGISTERED NUMBER: 01119938)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Taylor & Stapleton 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis.

Significant judgements and estimates
In preparing these financial statements, the directors have exercised judgement in the following principal areas:
- In determining the depreciation rates of tangible fixed assets, which are depreciated over their useful lives, taking into account residual values, where appropriate. The actual lives of the assets are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as past experience and expected performance are taken into account.
- In estimating the quantum of doubtful debts when collection of the full amount is no longer probable. The directors' best estimate is based on the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection.
- In assessing the value of amounts recoverable on contracts, the amount recorded as turnover in respect of these contracts is ascertained by reference to the total value of the contract and the stage of completion of the contract at the balance sheet date.

Turnover
Revenue is derived from providing services associated with heating, ventilation and air conditioning systems and is recorded at the fair value of the consideration received or receivable. Revenue from contracts with customers that are incomplete at the year-end is recognised in these accounts to the extent that the company's performance of those contracts is complete. Income not invoiced during the year is included in the balance sheet as accrued income. Turnover excludes 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost and 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

TAYLOR & STAPLETON LIMITED (REGISTERED NUMBER: 01119938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets:
Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts, discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities:
Basic financial liabilities, including trade and other payables, and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.


TAYLOR & STAPLETON LIMITED (REGISTERED NUMBER: 01119938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account.
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Government grants have been accounted for under the accrual model, recognised as other income in the period to which they relate. There were no unfulfilled conditions or contingencies attached to the grants.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 16 ) .

TAYLOR & STAPLETON LIMITED (REGISTERED NUMBER: 01119938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 75,631 9,662 32,537 10,102 127,932
Additions - - - 1,672 1,672
Disposals - - (32,537 ) - (32,537 )
At 31 March 2024 75,631 9,662 - 11,774 97,067
DEPRECIATION
At 1 April 2023 69,947 5,063 32,537 3,427 110,974
Charge for year 1,421 1,152 - 3,163 5,736
Eliminated on disposal - - (32,537 ) - (32,537 )
At 31 March 2024 71,368 6,215 - 6,590 84,173
NET BOOK VALUE
At 31 March 2024 4,263 3,447 - 5,184 12,894
At 31 March 2023 5,684 4,599 - 6,675 16,958

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 32,537
Disposals (32,537 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 32,537
Eliminated on disposal (32,537 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 330,806 250,532
Other debtors 2,250 5,500
Tax 38,875 -
Prepayments 14,139 10,493
386,070 266,525

TAYLOR & STAPLETON LIMITED (REGISTERED NUMBER: 01119938)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 43,030 56,807
Tax 68,878 19,877
Social security and other taxes 10,307 2,155
VAT 60,808 68,045
Other creditors 50,574 53,736
Accrued expenses 3,750 3,500
237,347 204,120

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
Value £ £
270 Ordinary 'A' £1 270 270
210 Ordinary 'B' £1 210 210
80 Ordinary 'C' £1 80 80
100 Ordinary 'D' £1 100 100
100 Ordinary 'E' £1 100 100
140 Ordinary 'F' £1 140 140
50 Ordinary 'F' £1 50 50
50 Ordinary 'H' £1 50 50

1000 1000

8. RESERVES
Retained
earnings
£   

At 1 April 2023 280,820
Profit for the year 244,788
Dividends (159,000 )
At 31 March 2024 366,608

9. RELATED PARTY DISCLOSURES

During the year, the Company paid salaries of £43,128 (2023: £39,228) to the directors.