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REGISTERED NUMBER: 06874718 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Taylor Electrical Services (Staffs)
Limited

Taylor Electrical Services (Staffs)
Limited (Registered number: 06874718)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Taylor Electrical Services (Staffs)
Limited (Registered number: 06874718)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,061 22,149
17,061 22,149

CURRENT ASSETS
Debtors 6 27,134 22,856
Cash at bank 1,368 11,603
28,502 34,459
CREDITORS
Amounts falling due within one year 7 28,748 34,548
NET CURRENT LIABILITIES (246 ) (89 )
TOTAL ASSETS LESS CURRENT LIABILITIES 16,815 22,060

CREDITORS
Amounts falling due after more than one year 8 (5,553 ) (9,473 )

PROVISIONS FOR LIABILITIES (3,242 ) (4,208 )
NET ASSETS 8,020 8,379

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 8,017 8,376
SHAREHOLDERS' FUNDS 8,020 8,379

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

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

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 director and authorised for issue on 8 November 2024 and were signed by:



Mr S K Taylor - Director


Taylor Electrical Services (Staffs)
Limited (Registered number: 06874718)

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

1. STATUTORY INFORMATION

Taylor Electrical Services (Staffs) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06874718

Registered office: Holmleigh
Hammersley Hayes Road
Cheadle
Stoke-on-Trent
Staffordshire
ST10 2DW

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.

Turnover
Turnover represents net invoiced sales of services, excluding of value added tax.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Intangible asset
Intangible assets are initially measured at cost. After initial recognition, intangible asset are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The intangible asset relates to a vehicle registration plate and has been written off in the year of acquisition being 2011.

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.
Tools & Equip - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office Equip - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Taylor Electrical Services (Staffs)
Limited (Registered number: 06874718)

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

2. ACCOUNTING POLICIES - continued

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.

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Number
Plate
£   
COST
At 1 August 2023
and 31 July 2024 226
AMORTISATION
At 1 August 2023
and 31 July 2024 226
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Tools & Motor Office
Equip vehicles Equip Totals
£    £    £    £   
COST
At 1 August 2023 2,656 27,400 3,913 33,969
Additions 366 - 183 549
At 31 July 2024 3,022 27,400 4,096 34,518
DEPRECIATION
At 1 August 2023 1,852 6,850 3,118 11,820
Charge for year 176 5,138 323 5,637
At 31 July 2024 2,028 11,988 3,441 17,457
NET BOOK VALUE
At 31 July 2024 994 15,412 655 17,061
At 31 July 2023 804 20,550 795 22,149

Taylor Electrical Services (Staffs)
Limited (Registered number: 06874718)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 27,400
DEPRECIATION
At 1 August 2023 6,850
Charge for year 5,138
At 31 July 2024 11,988
NET BOOK VALUE
At 31 July 2024 15,412
At 31 July 2023 20,550

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,464 21,735
Other debtors 1,670 1,121
27,134 22,856

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,920 3,920
Trade creditors 5,157 4,473
Taxation and social security 12,693 9,747
Other creditors 6,978 16,408
28,748 34,548

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,553 9,473

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 9,473 -

All debts are secured against the assets to which they relate.