REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HARRY TAYLOR OF ASHTON LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HARRY TAYLOR OF ASHTON LIMITED |
HARRY TAYLOR OF ASHTON LIMITED (REGISTERED NUMBER: 00742009) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HARRY TAYLOR OF ASHTON LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Leonard House |
5 - 7 Newman Road |
Bromley |
Kent |
BR1 1RJ |
HARRY TAYLOR OF ASHTON LIMITED (REGISTERED NUMBER: 00742009) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HARRY TAYLOR OF ASHTON LIMITED (REGISTERED NUMBER: 00742009) |
BALANCE SHEET - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HARRY TAYLOR OF ASHTON LIMITED (REGISTERED NUMBER: 00742009) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Harry Taylor of Ashton Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
Where sales have been invoiced before the balance sheet date and the goods supplied after the balance sheet date, the invoice is deferred until the period when income is earned. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
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. |
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. |
HARRY TAYLOR OF ASHTON LIMITED (REGISTERED NUMBER: 00742009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Included in cost or valuation of land and buildings is freehold land of £ 1,500,000 (2023 - £ 1,500,000 ) which is not depreciated. |
Cost or valuation at 31 March 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2016 | 1,500,000 | - | 1,500,000 |
Cost | 184,479 | 312,961 | 497,440 |
1,684,479 | 312,961 | 1,997,440 |
HARRY TAYLOR OF ASHTON LIMITED (REGISTERED NUMBER: 00742009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 317,913 | 317,913 |
Freehold land and buildings were valued on an open market basis on 31 March 2021 by the directors . |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Included in fair value of investment property is freehold land of £ 2,982,203 (2023 - £ 2,982,203 ) which is not depreciated. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2021 | 958,805 |
Cost | 2,023,398 |
2,982,203 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 2,023,398 | 2,023,398 |
Investment property was valued on an open market basis on by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
HARRY TAYLOR OF ASHTON LIMITED (REGISTERED NUMBER: 00742009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | SECURED DEBTS |
There is a first legal charge held over the freehold properties at Guide Bridge Trading Estate, Ashton-under-Lyne, held by the bank in respect of the bank loans.The charge was satisfied on 25 July 2023. |
9. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Mr J D R Howard and The Howard Family Settlement. |
The trustees of The Howard Family Settlement are Mr JDR Howard, and Mrs J E Howard, both of whom are directors of the company and Mrs K E La Motte. |