PTP Accounts Production v24.3.2.46 13366525 Board of Directors 31.3.24 1.4.23 31.3.24 31.3.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. civil engineering and building contractors. This includes general civil works, ground works, building and remedial works. true true false true true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh133665252023-03-31133665252024-03-31133665252023-04-012024-03-31133665252022-03-31133665252022-04-012023-03-31133665252023-03-3113366525ns15:EnglandWales2023-04-012024-03-3113366525ns14:PoundSterling2023-04-012024-03-3113366525ns10:Director12023-04-012024-03-3113366525ns10:Consolidated2024-03-3113366525ns10:ConsolidatedGroupCompanyAccounts2023-04-012024-03-3113366525ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3113366525ns10:Consolidatedns10:MediumEntities2023-04-012024-03-3113366525ns10:Consolidatedns10:Audited2023-04-012024-03-3113366525ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113366525ns10:Consolidated2023-04-012024-03-3113366525ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3113366525ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3113366525ns10:FullAccounts2023-04-012024-03-311336652512023-04-012024-03-3113366525ns10:Director22023-04-012024-03-3113366525ns10:Director32023-04-012024-03-3113366525ns10:RegisteredOffice2023-04-012024-03-3113366525ns10:Consolidated2022-04-012023-03-3113366525ns5:CurrentFinancialInstruments2024-03-3113366525ns5:CurrentFinancialInstruments2023-03-3113366525ns5:Non-currentFinancialInstruments2024-03-3113366525ns5:Non-currentFinancialInstruments2023-03-3113366525ns5:ShareCapital2024-03-3113366525ns5:ShareCapital2023-03-3113366525ns5:RetainedEarningsAccumulatedLosses2024-03-3113366525ns5:RetainedEarningsAccumulatedLosses2023-03-3113366525ns5:ShareCapital2022-03-3113366525ns5:RetainedEarningsAccumulatedLosses2022-03-3113366525ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3113366525ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3113366525ns5:NetGoodwill2023-04-012024-03-3113366525ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3113366525ns5:CostValuation2023-03-3113366525ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3113366525ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 13366525 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

E.J.TAYLOR GROUP LIMITED

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 19


E.J.TAYLOR GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: S J T Peck
R C B Taylor
J R Taylor





REGISTERED OFFICE: Mill Works Burnham Road
Hazeleigh
Chelmsford
CM3 6QT





REGISTERED NUMBER: 13366525 (England and Wales)





AUDITORS: Gowers Limited, Statutory Auditor
The Old School House
Bridge Road
Hunton Bridge
Kings Langley
Hertfordshire
WD4 8SZ

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2024


The directors present their strategic report of the company and the group for the year ended 31st March 2024.

REVIEW OF BUSINESS
The results for the year and financial position of the group are as shown in the annexed financial statements.

There have not been any significant changes in the subsidiary companies' principal activities in the period under review. The directors are not aware, at the date of this report, of any likely major changes in the group or its subsidiary companies' activities.

The group's turnover was £40,533,701 (2023: £47,139,191) with an overall gross profit margin of 1.14% (2023: 7.46%).

The year ending March 2024 was significant in a number of ways not least the very difficult financial circumstances that we have weathered.

Despite a variety of successes across many parts of our business, losses sustained were primarily due to the effects of cost inflation on two large site contracts. These large contracts were in place prior to considerable price hikes for our most regularly purchased goods with prices peaking during the year at 64% higher than March 2020. Even though inflation settled somewhat, prices were still 36% higher by March 2024.

The pandemic and geopolitical matters impacted supply in cost and lead time, as well as staff and subcontractor availability during prior years. We were then further impacted during 2023/24 by inflation, interest rates and recessionary conditions significantly slowing down the housing market which held up progress on existing sites and awards of new ones.

Despite these significant headwinds, during this period we continued to forge ahead with the diversification of our client base which has been very successful into 2024/2025. In the wider group, we continued to build on the success of our insurance repair business, our road sweeping and back to black road cleaning service and our HGV servicing and repair work, all of which provide us with a more stable business base which is insulated from the construction industry large site work fluctuations. We also continue to drive forward on our own new build developments which give us greater control and another client base to build even greater stability. We have also boosted our trusted network of subcontractors, suppliers and consultants as well as our in-house teams.

In 2024/25 we continue to grow and diversify our business and relationships which allow us to operate off a stable base. Additionally, with broader economic conditions alleviating gradually, we look forward to stability and successful growth in the year ahead.

ON BEHALF OF THE BOARD:





S J T Peck - Director


24th January 2025

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024


The directors present their report with the financial statements of the company and the group for the year ended 31st March 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31st March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

S J T Peck
R C B Taylor
J R Taylor

POLITICAL DONATIONS AND EXPENDITURE
During the year, the company made various one-off donations totalling £2,894 (2023: £4,172).

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024


AUDITORS
The auditors, Gowers Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S J T Peck - Director


24th January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
E.J.TAYLOR GROUP LIMITED


Opinion
We have audited the financial statements of E.J.Taylor Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st March 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
E.J.TAYLOR GROUP LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
E.J.TAYLOR GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- the nature of the industry and sector, control environment and business performance, any key drivers for director's
remuneration, and performance targets;
- results of our enquiries of management and directors about their own identification and assessment of irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal systems established to mitigate risks related to fraud or non-compliance with laws and regulations;
- the matters discussed among the engagement team including tax personnel, regarding where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of the above, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in management override of controls. In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework in which the company operates, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements in this case, specifically in this context, Companies Act 2006 and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified
Having performed the above, we did not identify any key audit matters related to the potential risk of fraud or
non-compliance with laws and regulations. In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above;
- enquiring of management, the directors and in-house management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- in addressing the risk of fraud through management override of controls, reviewing the appropriateness of journal entries and other adjustments; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
E.J.TAYLOR GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Green FCA (Senior Statutory Auditor)
for and on behalf of Gowers Limited, Statutory Auditor
The Old School House
Bridge Road
Hunton Bridge
Kings Langley
Hertfordshire
WD4 8SZ

24th January 2025

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   

TURNOVER 40,533,701 47,139,191

Cost of sales (40,072,536 ) (43,623,800 )
GROSS PROFIT 461,165 3,515,391

Administrative expenses (2,969,266 ) (2,677,180 )
(2,508,101 ) 838,211

Other operating income 83 579
OPERATING (LOSS)/PROFIT 4 (2,508,018 ) 838,790

Interest receivable and similar income 5,357 -
(2,502,661 ) 838,790

Interest payable and similar expenses 5 (395,986 ) (218,266 )
(LOSS)/PROFIT BEFORE TAXATION (2,898,647 ) 620,524

Tax on (loss)/profit 6 254,866 (207,020 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(2,643,781

)

413,504
(Loss)/profit attributable to:
Owners of the parent (2,657,002 ) 413,504
Non-controlling interests 13,221 -
(2,643,781 ) 413,504

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (2,643,781 ) 413,504


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(2,643,781

)

413,504

Total comprehensive income attributable to:
Owners of the parent (2,657,002 ) 413,504
Non-controlling interests 13,221 -
(2,643,781 ) 413,504

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

CONSOLIDATED BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 3,655,713 3,683,574
Investments 10 - -
3,655,713 3,683,574

CURRENT ASSETS
Stocks 11 53,262 86,850
Debtors 12 10,810,397 9,572,653
Prepayments and accrued income 27,300 36,193
Cash at bank and in hand 376,249 2,029,563
11,267,208 11,725,259
CREDITORS
Amounts falling due within one year 13 (11,504,525 ) (9,642,677 )
NET CURRENT (LIABILITIES)/ASSETS (237,317 ) 2,082,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,418,396

5,766,156

CREDITORS
Amounts falling due after more than one year 14 (2,907,327 ) (2,335,007 )

PROVISIONS FOR LIABILITIES 17 (180,400 ) (456,699 )
NET ASSETS 330,669 2,974,450

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

CONSOLIDATED BALANCE SHEET - continued
31ST MARCH 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 18 200 200
Revaluation reserve 19 28,000 28,000
Other reserves 19 110,000 110,000
Retained earnings 19 179,248 2,836,250
SHAREHOLDERS' FUNDS 317,448 2,974,450

NON-CONTROLLING INTERESTS 13,221 -
TOTAL EQUITY 330,669 2,974,450


The financial statements were approved by the Board of Directors and authorised for issue on 24th January 2025 and were signed on its behalf by:





S J T Peck - Director


E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

COMPANY BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 - -
Investments 10 400 400
400 400

CURRENT ASSETS
Debtors 12 2,556,652 20,008
Cash at bank 444 543
2,557,096 20,551
CREDITORS
Amounts falling due within one year 13 - (20,500 )
NET CURRENT ASSETS 2,557,096 51
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,557,496

451

CREDITORS
Amounts falling due after more than one year 14 (2,527,444 ) (300 )
NET ASSETS 30,052 151

CAPITAL AND RESERVES
Called up share capital 18 200 200
Retained earnings 29,852 (49 )
SHAREHOLDERS' FUNDS 30,052 151

Company's profit/(loss) for the financial year 29,901 (49 )

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24th January 2025 and were signed on its behalf by:




S J T Peck - Director


E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST MARCH 2024

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1st April 2022 200 2,422,746 28,000

Changes in equity
Total comprehensive income - 413,504 -
Balance at 31st March 2023 200 2,836,250 28,000

Changes in equity
Total comprehensive income - (2,657,002 ) -
Balance at 31st March 2024 200 179,248 28,000
Other Non-controlling Total
reserves Total interests equity
£    £    £    £   
Balance at 1st April 2022 110,000 2,560,946 - 2,560,946

Changes in equity
Total comprehensive income - 413,504 - 413,504
Balance at 31st March 2023 110,000 2,974,450 - 2,974,450

Changes in equity
Total comprehensive income - (2,657,002 ) 13,221 (2,643,781 )
Balance at 31st March 2024 110,000 317,448 13,221 330,669

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st April 2022 200 - 200

Changes in equity
Total comprehensive income - (49 ) (49 )
Balance at 31st March 2023 200 (49 ) 151

Changes in equity
Total comprehensive income - 29,901 29,901
Balance at 31st March 2024 200 29,852 30,052

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (3,301,006 ) 1,825,102
Interest paid (155,473 ) (72,986 )
Interest element of hire purchase payments
paid

(240,513

)

(145,280

)
Tax paid 18,667 19,483
Net cash from operating activities (3,678,325 ) 1,626,319

Cash flows from investing activities
Purchase of tangible fixed assets (3,028,591 ) (1,873,291 )
Sale of tangible fixed assets 2,499,454 49,196
Interest received 5,357 -
Net cash from investing activities (523,780 ) (1,824,095 )

Cash flows from financing activities
New shareholder loans in year 600,000 -
Net capital borrowed on HP 543,176 741,872
Amount introduced by directors 253 715
Amount withdrawn by directors - (20,405 )
Net loan movement 1,405,362 (111,878 )
Net cash from financing activities 2,548,791 610,304

(Decrease)/increase in cash and cash equivalents (1,653,314 ) 412,528
Cash and cash equivalents at beginning of
year

2

2,029,563

1,617,035

Cash and cash equivalents at end of year 2 376,249 2,029,563

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
(Loss)/profit before taxation (2,898,647 ) 620,524
Depreciation charges 728,796 630,140
(Profit)/loss on disposal of fixed assets (171,798 ) 42,951
Finance costs 395,986 218,266
Finance income (5,357 ) -
(1,951,020 ) 1,511,881
Decrease/(increase) in stocks 33,588 (30,717 )
Increase in trade and other debtors (1,228,851 ) (1,487,297 )
(Decrease)/increase in trade and other creditors (154,723 ) 1,831,235
Cash generated from operations (3,301,006 ) 1,825,102

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 376,249 2,029,563
Year ended 31st March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,029,563 1,617,035


E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 2,029,563 (1,653,314 ) 376,249
2,029,563 (1,653,314 ) 376,249
Debt
Finance leases (2,593,305 ) (543,176 ) (3,136,481 )
Debts falling due within 1 year (919,144 ) (1,602,862 ) (2,522,006 )
Debts falling due after 1 year (769,208 ) 197,500 (571,708 )
(4,281,657 ) (1,948,538 ) (6,230,195 )
Total (2,252,094 ) (3,601,852 ) (5,853,946 )

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

E.J.Taylor Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements include the financial statements of the company and all its subsidiaries, made up to 31st March, together with the group's results for the year. The results of subsidiaries acquired during the year are included as from the date of incorporation.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Purchased goodwill has been capitalised as an intangible asset and amortised on a straight-line basis over its estimated useful life.

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

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.
Plant - 20% on reducing balance
Portable Buildings - 20% on reducing balance
Earth Moving Plant - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Office Equipment - 25% on reducing balance

Freehold land is not depreciated. Some assets have been fully depreciated.

Investments in subsidaries
Investments in subsidiary undertakings are recognised at cost.

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Construction contracts - revenue recognition
Revenue related to construction contracts is accounted for using the stage of completion method. Revenue is recognised based on the stage of completion of contract activity and is calculated by comparing the latest estimate of the contract's loss or profit margin against the contract activities, revenues and costs incurred to date. Provision is made for any contracts expected to give rise to a loss as soon as the loss is foreseen.

The stage of completion of a transaction or contract using the method that measures most reliably the work
performed including, where appropriate:
(a) the proportion that costs incurred for work performed to date bear to the estimated total costs, not including costs relating to future activity, such as for materials or prepayments;
(b) surveys of work performed; and
(c) completion of a physical proportion of the contract work or the completion of a proportion of a contract.

Costs that relate to future activity on the transaction or contract, such as for materials or prepayments, as an asset if it is probable that the costs will be recovered. Costs are recognised as an expense when recovery is not probable.

When the outcome of a construction contract cannot be estimated reliably, revenue is recognised only to the extent of contract costs incurred that it is probable will be recoverable; and contract costs are recognised as an expense in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue on a construction contract, the expected loss is recognised as an expense. Similarly, if the collectability of an amount already recognised as contract revenue is no longer probable, the uncollectible amount is recognised as an expense.

Accrued Income and Retentions in respect of construction contracts are included within Trade and Other Debtors, as appropriate, within note 13.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates defined contribution pension schemes. Contributions payable to the group's pension schemes are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 7,614,963 6,877,244
Social security costs 521,408 520,460
Other pension costs 197,170 191,614
8,333,541 7,589,318

The average number of employees during the year was as follows:
2024 2023

E.J. Taylor & Sons Limited 140 138
Millstar Plant Limited 8 6
Esmera Limited 2 -
Fleetsmith Ltd 1 -
151 144

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


3. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:

Directors' remuneration £160,559 (2023: £130,130)

The number of directors to whom retirement benefits were accruing under money purchase schemes was 2 (2023: 2).

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024 2023
£    £   
Plant hire 846,525 1,115,467
Depreciation - owned assets 81,953 66,542
Depreciation - assets on hire purchase contracts 646,843 563,597
(Profit)/loss on disposal of fixed assets (171,798 ) 42,951
Auditors remuneration 22,375 23,445

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 97,957 33,165
Late payment interest 4 -
Loan 57,512 39,821
Hire purchase 240,513 145,280
395,986 218,266

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 22,100 -
Interest on Corporation tax (667 ) (243 )
Corporation Tax repayment - (55,236 )
Over provision in prior year - (101 )
Total current tax 21,433 (55,580 )

Deferred tax (276,299 ) 262,600
Tax on (loss)/profit (254,866 ) 207,020

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 60,000
AMORTISATION
At 1st April 2023
and 31st March 2024 60,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

9. TANGIBLE FIXED ASSETS

Group
Freehold Portable
property buildings Plant
£    £    £   
COST
At 1st April 2023 50,000 123,250 1,286,944
Additions - 25,202 981,091
Disposals - (35,500 ) (1,106,906 )
At 31st March 2024 50,000 112,952 1,161,129
DEPRECIATION
At 1st April 2023 - 37,451 381,155
Charge for year - 17,247 200,608
Eliminated on disposal - (18,728 ) (327,906 )
At 31st March 2024 - 35,970 253,857
NET BOOK VALUE
At 31st March 2024 50,000 76,982 907,272
At 31st March 2023 50,000 85,799 905,789

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. TANGIBLE FIXED ASSETS - continued

Group

Earth
moving Motor Office
plant vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 2,017,900 1,702,725 130,616 5,311,435
Additions 874,303 1,139,695 8,300 3,028,591
Disposals (1,320,170 ) (1,601,989 ) - (4,064,565 )
At 31st March 2024 1,572,033 1,240,431 138,916 4,275,461
DEPRECIATION
At 1st April 2023 396,100 725,639 87,516 1,627,861
Charge for year 245,433 254,179 11,329 728,796
Eliminated on disposal (461,302 ) (928,973 ) - (1,736,909 )
At 31st March 2024 180,231 50,845 98,845 619,748
NET BOOK VALUE
At 31st March 2024 1,391,802 1,189,586 40,071 3,655,713
At 31st March 2023 1,621,800 977,086 43,100 3,683,574

Included in cost of land and buildings is freehold land of £50,000 (2023 - £50,000) which is not depreciated.

Freehold land was valued on an open market basis on 31st March 2014 by qualified chartered surveyors.

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Earth
Portable moving Motor
buildings Plant plant vehicles Totals
£    £    £    £    £   
COST
At 1st April 2023 49,900 766,043 1,976,400 1,633,927 4,426,270
Additions 25,202 971,558 870,317 1,136,414 3,003,491
Disposals (28,600 ) (750,313 ) (1,292,270 ) (1,578,676 ) (3,649,859 )
At 31st March 2024 46,502 987,288 1,554,447 1,191,665 3,779,902
DEPRECIATION
At 1st April 2023 22,222 159,849 379,809 701,157 1,263,037
Charge for year 5,663 151,666 241,735 247,779 646,843
Eliminated on disposal (15,343 ) (134,056 ) (455,378 ) (918,373 ) (1,523,150 )
At 31st March 2024 12,542 177,459 166,166 30,563 386,730
NET BOOK VALUE
At 31st March 2024 33,960 809,829 1,388,281 1,161,102 3,393,172
At 31st March 2023 27,678 606,194 1,596,591 932,770 3,163,233

10. FIXED ASSET INVESTMENTS

Company
Other
investments
£   
COST
At 1st April 2023
and 31st March 2024 400
NET BOOK VALUE
At 31st March 2024 400
At 31st March 2023 400

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


10. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

E J Taylor & Sons Limited
Registered office: Mill Works, Hazeleigh, Nr. Purleigh, Chelmsford, Essex. CM3 6QT
Nature of business: Construction
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 197,713 2,677,926
(Loss)/profit for the year (2,480,213 ) 422,784

E J Taylor & Sons (Coggeshall) Limited
Registered office: Mill Works, Hazeleigh, Nr. Purleigh, Chelmsford, Essex. CM3 6QT
Nature of business: Construction
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (5,413 ) (5,311 )
Loss for the year (102 ) (106 )

Millstar Plant Limited
Registered office: Mill Works, Hazeleigh, Nr. Purleigh, Chelmsford, Essex. CM3 6QT
Nature of business: Construction
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 547,951 316,553
Profit for the year 231,398 5,543

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


10. FIXED ASSET INVESTMENTS - continued

Esmera (Maplestead) Limited
Registered office: Mill Works, Hazeleigh, Nr. Purleigh, Chelmsford, Essex. CM3 6QT
Nature of business: Construction
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (109,758 ) 3,016
(Loss)/profit for the year (112,774 ) 2,916

Fleetsmith Ltd
Registered office: Mill Works Burnham Road, Hazeleigh, Chelmsford, England, CM3 6QT
Nature of business: Maintenance and repair of motor vehicles
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (50,756 ) (15,339 )
Loss for the year (35,417 ) (15,439 )

Esmera Limited
Registered office: Mill Works Burnham Road, Hazeleigh, Chelmsford, England, CM3 6QT
Nature of business: Development of building projects
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (342,360 ) 100
Loss for the year (342,460 ) -

Necton Developments
Registered office: Mill Works Burnham Road, Hazeleigh, Chelmsford, England, CM3 6QT
Nature of business: Development of building projects
%
Class of shares: holding
Ordinary 80.00
2024
£   
Aggregate capital and reserves 66,204
Profit for the year 66,104


E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


11. STOCKS

Group
2024 2023
£    £   
Inventories 53,262 86,850

12. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 4,778,539 5,859,838 - -
Other debtors 3,960,172 3,020,926 - -
Shareholders' loan accounts 20,008 20,008 20,008 20,008
VAT 292,374 562,536 - -
Prepayments 1,759,304 109,345 - -
10,810,397 9,572,653 20,008 20,008

Amounts falling due after more than one year:
Amounts owed by related undertakings - - 2,536,644 -

Aggregate amounts 10,810,397 9,572,653 2,556,652 20,008

Trade and other debtors include accrued income of £4,957,942 (2023: £4,994,909) and retentions of £2,472,763 (2023: £1,980,977).

Amounts totalling £20,008 (2023: £20,008) are due to the company by directors and shareholders.

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 15) 1,991,126 566,205 - -
Other loans (see note 15) 530,880 352,939 - -
Hire purchase contracts (see note 16) 942,842 1,027,506 - -
Trade creditors 5,638,268 6,467,554 - -
Amounts owed to Shareholders 600,000 - - -
Tax 22,003 (18,097 ) - -
Social security and other taxes 275,763 266,153 - -
Other creditors 720,750 378,314 - 20,500
Shareholders' loan accounts 4,865 4,612 - -
Accrued expenses 778,028 597,491 - -
11,504,525 9,642,677 - 20,500

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Other loans (see note 15) 571,708 769,208 - -
Hire purchase contracts (see note 16) 2,193,639 1,565,799 - -
Amounts owed to related undertakings - - 2,527,444 -
Other creditors 141,980 - - 300
2,907,327 2,335,007 2,527,444 300

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


15. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,991,126 566,205
Other loans < 1 year 227,346 212,500
Loans by individuals 303,534 140,439
2,522,006 919,144
Amounts falling due between one and two years:
Other loans > 1 year 180,208 392,708
Loans by individuals 391,500 376,500
571,708 769,208

Other loans
Other loans relate to a total of £1,000,000 which were borrowed under the Coronavirus Business Interruption Loan Scheme in April and May 2020 and the first repayments were made during the year ended 31st March 2022. The loans are being repaid by 48 monthly instalments of £5,208.33 commencing April 2021 and 60 monthly instalments of £12,500 commencing May 2021. The loans are secured by a fixed and floating charge over all the assets of the company.

Bank loans
The bank loan is secured by a fixed and floating charge over all freehold and leasehold property in the company together with all buildings, fixtures and fixed plant and machinery, the goodwill and any uncalled capital of the company, all book debts and other debts owing to the company now or in the future, and all intellectual property rights. The amount is repayable on the anniversary of the drawdown which was 4th November 2022.

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 1,171,092 1,150,079
Between one and five years 2,729,951 1,706,003
3,901,043 2,856,082

Finance charges repayable:
Within one year 228,250 122,573
Between one and five years 536,312 140,204
764,562 262,777

Net obligations repayable:
Within one year 942,842 1,027,506
Between one and five years 2,193,639 1,565,799
3,136,481 2,593,305

17. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 180,400 456,699

Group
Deferred
tax
£   
Balance at 1st April 2023 456,699
Movement in provision (276,299 )
Balance at 31st March 2024 180,400

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


18. CALLED UP SHARE CAPITAL

On incorporation, 100 ordinary shares of £1 each in the company were issued and fully paid.

On 16th September 2021 a further 100 ordinary shares of £1 each were issued in share for share exchange to acquire 100% of the shares in E J Taylor & Sons Limited, E J Taylor & Sons (Coggeshall) Limited and Millstar Plant Limited.

19. RESERVES

Group
Retained Revaluation Other
earnings reserve reserves Totals
£    £    £    £   

At 1st April 2023 2,836,250 28,000 110,000 2,974,250
Deficit for the year (2,657,002 ) (2,657,002 )
At 31st March 2024 179,248 28,000 110,000 317,248


20. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, the ownership of the shares is sufficiently widespread for there to be no individual controlling party.

21. PENSION COMMITMENTS

E J Taylor & Sons Limited, a subsidiary undertaking, operates a defined contribution scheme under the Auto Enrolment legislation for all employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable to the funds and amounted to £174,115 (2023: £175,593). Contributions outstanding at the balance sheet date amounted to £32,724 (2023: £23,706).

E J Taylor & Sons Limited, a subsidiary undertaking, also operates a defined contribution scheme for the three directors. The assets of the scheme are held separately from those of the company in an independently administered fund. There were contributions totalling £24,000 made in the year.

E.J.TAYLOR GROUP LIMITED (REGISTERED NUMBER: 13366525)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


22. RELATED PARTIES

As at 31st March 2024 the company owed J R Taylor Esq, £165,380 (2023: £nil). Interest is charged at a commercial rate.

As at 31st March 2024 the company owed Mrs L M Taylor, wife of R C B Taylor, £45,500 (2023: £45,500). Interest is charged at a commercial rate.

As at 31st March 2024 the company owed J Peck Esq, husband of S J Peck, £115,000 (2023: £100,000). Interest is charged at a commercial rate.

As at 31st March 2024 the company owed E J T & Sons Retirement and Death Benefit Scheme, £450,075 (2023: £248,199). Interest is charged at a commercial rate.

As at 31st March 2024 the company owed other individuals, £354,154 (2023: £356,439). Interest is charged at a commercial rate.

The E J Taylor Foundation, a charity, was registered as a charitable incorporated company on 18th April 2019. Two of the trustees of the charity are directors of the group. At the period end the group held (net) funds totalling £1,097 (2023: £228) on behalf of the charity.

E J Taylor & Sons Limited, a subsidiary undertaking, occupies a property under a commercial lease at an arms length rent of £92,000 per annum (2023: £92,000 per annum) from EJ Taylor & Sons Limited Retirement and Death Benefit Scheme, a scheme which is for the benefit of R C B Taylor (director), Mrs S J T Peck (director) and J R Taylor (director). The property is leased under a 10 year lease with an upward only rent review at the fifth year. Rents paid to the pension scheme during the year amounted to £92,000 (2023: £92,000).