Registered number
11221774
Taylor Sparrow Ltd
Unaudited Filleted Accounts
30 April 2024
API Partnership Limited t/a Chandler & Georges
Chartered Accountants
75 Westow Hill
Crystal Palace
London
SE19 1TX
Ph. 0208 761 2213
Web. Www.chandlerandgeorges.co.uk
Taylor Sparrow Ltd
Registered number: 11221774
Statement of financial position
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 9,803
Tangible assets 4 8,638 6,142
8,638 15,945
Current assets
Stocks 60,247 60,247
Debtors 5 38,058 52,526
Cash at bank and in hand 11,588 7,823
109,893 120,596
Creditors: amounts falling due within one year 6 (116,025) (118,246)
Net current (liabilities)/assets (6,132) 2,350
Total assets less current liabilities 2,506 18,295
Creditors: amounts falling due after more than one year 7 (44,167) (44,167)
Provisions for liabilities (1,536) (1,536)
Net liabilities (43,197) (27,408)
Capital and reserves
Called up share capital 100 100
Profit and loss account (43,297) (27,508)
Shareholders' funds (43,197) (27,408)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Taylor
Director
Approved by the board on 13 January 2025
Taylor Sparrow Ltd
Notes to the financial statements
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Government grants
Grants of a revenue nature are recognised in the Profit and Loss accounts in the period to which it relates.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company including director 17 22
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 49,011
At 30 April 2024 49,011
Amortisation
At 1 May 2023 39,208
Provided during the year 9,803
At 30 April 2024 49,011
Net book value
At 30 April 2024 -
At 30 April 2023 9,803
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 27,504
Additions 9,355
At 30 April 2024 36,859
Depreciation
At 1 May 2023 21,362
Charge for the year 6,859
At 30 April 2024 28,221
Net book value
At 30 April 2024 8,638
At 30 April 2023 6,142
5 Debtors 2024 2023
£ £
Trade debtors 2,500 10,070
Other debtors 35,558 42,456
38,058 52,526
Amounts due after more than one year included above 15,500 15,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 930 10,616
Trade creditors 98,255 76,171
Other taxes and social security costs 5,601 9,798
Other creditors 11,239 21,661
116,025 118,246
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 44,167 44,167
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S Taylor 6,606 11,728 - 18,334
6,606 11,728 - 18,334
9 Controlling party
The company is controlled by S Taylor
10 Other information
Taylor Sparrow Ltd is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
Taylor Sparrow Ltd 11221774 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 S Taylor No description of principal activity 11221774 2022-05-01 2023-04-30 11221774 core:WithinOneYear 2023-04-30 11221774 core:AfterOneYear 2023-04-30 11221774 core:ShareCapital 2023-04-30 11221774 core:RetainedEarningsAccumulatedLosses 2023-04-30 11221774 2023-05-01 2024-04-30 11221774 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11221774 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11221774 bus:Director40 2023-05-01 2024-04-30 11221774 1 2023-05-01 2024-04-30 11221774 2 2023-05-01 2024-04-30 11221774 core:Goodwill 2023-05-01 2024-04-30 11221774 core:PlantMachinery 2023-05-01 2024-04-30 11221774 bus:Director1 1 2023-05-01 2024-04-30 11221774 countries:England 2023-05-01 2024-04-30 11221774 bus:FRS102 2023-05-01 2024-04-30 11221774 bus:FilletedAccounts 2023-05-01 2024-04-30 11221774 2024-04-30 11221774 core:WithinOneYear 2024-04-30 11221774 core:AfterOneYear 2024-04-30 11221774 core:ShareCapital 2024-04-30 11221774 core:RetainedEarningsAccumulatedLosses 2024-04-30 11221774 core:Goodwill 2024-04-30 11221774 core:PlantMachinery 2024-04-30 11221774 bus:Director1 1 2024-04-30 11221774 2023-04-30 11221774 core:Goodwill 2023-04-30 11221774 core:PlantMachinery 2023-04-30 11221774 bus:Director1 1 2023-04-30 iso4217:GBP xbrli:pure