Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr V C Taylor 30/04/1992 04 November 2024 The principal activity of the Company during the financial year was that of property investment. 02041094 2024-04-30 02041094 bus:Director1 2024-04-30 02041094 2023-04-30 02041094 core:CurrentFinancialInstruments 2024-04-30 02041094 core:CurrentFinancialInstruments 2023-04-30 02041094 core:ShareCapital 2024-04-30 02041094 core:ShareCapital 2023-04-30 02041094 core:FurtherSpecificReserve1ComponentTotalEquity 2024-04-30 02041094 core:FurtherSpecificReserve1ComponentTotalEquity 2023-04-30 02041094 core:RetainedEarningsAccumulatedLosses 2024-04-30 02041094 core:RetainedEarningsAccumulatedLosses 2023-04-30 02041094 2023-05-01 2024-04-30 02041094 bus:FilletedAccounts 2023-05-01 2024-04-30 02041094 bus:SmallEntities 2023-05-01 2024-04-30 02041094 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02041094 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02041094 bus:Director1 2023-05-01 2024-04-30 02041094 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 02041094 (England and Wales)

W. TAYLOR & CO LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

W. TAYLOR & CO LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

W. TAYLOR & CO LTD

BALANCE SHEET

As at 30 April 2024
W. TAYLOR & CO LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 991,458 980,000
991,458 980,000
Current assets
Debtors 4 0 2,045
Cash at bank and in hand 176,461 178,829
176,461 180,874
Creditors: amounts falling due within one year 5 ( 6,517) ( 8,500)
Net current assets 169,944 172,374
Total assets less current liabilities 1,161,402 1,152,374
Provision for liabilities ( 118,708) ( 90,218)
Net assets 1,042,694 1,062,156
Capital and reserves
Called-up share capital 10,000 10,000
Fair value reserve 479,480 507,970
Profit and loss account 553,214 544,186
Total shareholders' funds 1,042,694 1,062,156

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of W. Taylor & Co Ltd (registered number: 02041094) were approved and authorised for issue by the Director on 04 November 2024. They were signed on its behalf by:

Mr V C Taylor
Director
W. TAYLOR & CO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
W. TAYLOR & CO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W. Taylor & Co Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value consideration received or receivable for the rental of the property in the ordinary course of the company's activities.
The company recognises revenue when :
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

The company is run and administered by the director for whom no formal contract of service is in place.

3. Investment property

Investment property
£
Valuation
As at 01 May 2023 980,000
Additions 11,458
As at 30 April 2024 991,458

Valuation

The fair value of the investment properties at 30 April 2024 have been arrived at on the basis of valuations carried out on that date by the director. The basis of this valuation was open market value.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 381,812 381,812

4. Debtors

2024 2023
£ £
Other debtors 0 2,045

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 2,118 4,868
Other creditors 4,399 3,632
6,517 8,500

6. Related party transactions

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 May 2023, the balance owed to the director was £1,474. During the year, £324 was advanced to the director, and £987 was repaid by the director. At 30 April 2024, the balance owed to the director was £2,137.

At 1 May 2022, the balance owed by the director was £21,021. During the year, £21,000 was advanced to the director, and £44,495 was repaid by the director. At 30 April 2023, the balance owed to the director was £1,474.