Company registration number 07608742 (England and Wales)
TAYLOR WALTON (NW) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
TAYLOR WALTON (NW) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TAYLOR WALTON (NW) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
181,885
109,443
Current assets
Debtors
4
422,170
306,206
Cash at bank and in hand
350,936
333,565
773,106
639,771
Creditors: amounts falling due within one year
5
(114,977)
(117,202)
Net current assets
658,129
522,569
Total assets less current liabilities
840,014
632,012
Provisions for liabilities
(34,570)
(12,466)
Net assets
805,444
619,546
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
805,244
619,346
Total equity
805,444
619,546
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 2 December 2024 and are signed on its behalf by:
S J Walton
H L Walton
Director
Director
Company registration number 07608742 (England and Wales)
TAYLOR WALTON (NW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Taylor Walton (NW) Limited is a private company limited by shares incorporated in England and Wales. The registered office is HLB House, 68 High Street, Tarporley, Cheshire, CW6 0AT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Nil
Website
25% reducing balance basis
Fixtures, fittings & equipment
15% reducing balance basis
Computer equipment
33.3% straight line basis
Motor vehicles
25% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
TAYLOR WALTON (NW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
TAYLOR WALTON (NW) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
40,010
107,130
147,140
Additions
121,016
121,016
Disposals
(39,650)
(39,650)
At 30 April 2024
40,010
188,496
228,506
Depreciation and impairment
At 1 May 2023
37,697
37,697
Depreciation charged in the year
14,706
14,706
Eliminated in respect of disposals
(5,782)
(5,782)
At 30 April 2024
46,621
46,621
Carrying amount
At 30 April 2024
40,010
141,875
181,885
At 30 April 2023
40,010
69,433
109,443
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
258,380
226,324
Other debtors
163,790
79,882
422,170
306,206
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
171
14,475
Corporation tax
77,730
48,005
Other taxation and social security
33,675
40,240
Other creditors
3,401
14,482
114,977
117,202
6
Directors' transactions
During the year the company provided the directors with interest free loans. As at 30 April 2024, the company was owed £160,111.