17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 263,043 210,432 13,152 223,584 39,459 52,611 xbrli:pure xbrli:shares iso4217:GBP 06019222 2023-05-01 2024-04-30 06019222 2024-04-30 06019222 2023-04-30 06019222 2022-05-01 2023-04-30 06019222 2023-04-30 06019222 2022-04-30 06019222 core:NetGoodwill 2023-05-01 2024-04-30 06019222 core:MotorVehicles 2023-05-01 2024-04-30 06019222 bus:Director1 2023-05-01 2024-04-30 06019222 bus:Director2 2023-05-01 2024-04-30 06019222 core:NetGoodwill 2023-04-30 06019222 core:NetGoodwill 2024-04-30 06019222 core:MotorVehicles 2023-04-30 06019222 core:MotorVehicles 2024-04-30 06019222 core:WithinOneYear 2024-04-30 06019222 core:WithinOneYear 2023-04-30 06019222 core:ShareCapital 2024-04-30 06019222 core:ShareCapital 2023-04-30 06019222 core:RetainedEarningsAccumulatedLosses 2024-04-30 06019222 core:RetainedEarningsAccumulatedLosses 2023-04-30 06019222 core:NetGoodwill 2023-04-30 06019222 core:MotorVehicles 2023-04-30 06019222 bus:Director1 2023-04-30 06019222 bus:Director1 2024-04-30 06019222 bus:Director2 2023-04-30 06019222 bus:Director2 2024-04-30 06019222 bus:Director1 2022-04-30 06019222 bus:Director1 2023-04-30 06019222 bus:Director2 2022-04-30 06019222 bus:Director2 2023-04-30 06019222 bus:Director1 2022-05-01 2023-04-30 06019222 bus:Director2 2022-05-01 2023-04-30 06019222 bus:SmallEntities 2023-05-01 2024-04-30 06019222 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06019222 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06019222 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06019222 bus:FullAccounts 2023-05-01 2024-04-30 06019222 core:ComputerEquipment 2023-05-01 2024-04-30 06019222 core:ComputerEquipment 2023-04-30 06019222 core:ComputerEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: 06019222
Taylors Services (Oxford) Limited
Filleted Unaudited Financial Statements
30 April 2024
Taylors Services (Oxford) Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
39,459
52,611
Tangible assets
6
136,533
115,254
---------
---------
175,992
167,865
Current assets
Stocks
140,000
140,000
Debtors
7
384,698
484,156
Cash at bank and in hand
551,152
278,792
------------
---------
1,075,850
902,948
Creditors: amounts falling due within one year
8
273,800
388,062
------------
---------
Net current assets
802,050
514,886
---------
---------
Total assets less current liabilities
978,042
682,751
Provisions
Taxation including deferred tax
2,612
5,708
---------
---------
Net assets
975,430
677,043
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
975,330
676,943
---------
---------
Shareholders funds
975,430
677,043
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
Taylors Services (Oxford) Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
Mr B Taylor
Director
Company registration number: 06019222
Taylors Services (Oxford) Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 50 High Street, Wheatley, Oxford, OX33 1XT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 17 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
263,043
---------
Amortisation
At 1 May 2023
210,432
Charge for the year
13,152
---------
At 30 April 2024
223,584
---------
Carrying amount
At 30 April 2024
39,459
---------
At 30 April 2023
52,611
---------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 May 2023
310,218
9,677
319,895
Additions
65,599
416
66,015
Disposals
( 18,951)
( 18,951)
---------
--------
---------
At 30 April 2024
356,866
10,093
366,959
---------
--------
---------
Depreciation
At 1 May 2023
196,015
8,626
204,641
Charge for the year
42,197
288
42,485
Disposals
( 16,700)
( 16,700)
---------
--------
---------
At 30 April 2024
221,512
8,914
230,426
---------
--------
---------
Carrying amount
At 30 April 2024
135,354
1,179
136,533
---------
--------
---------
At 30 April 2023
114,203
1,051
115,254
---------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
185,853
475,511
Amounts owed by group undertakings and undertakings in which the company has a participating interest
100
Other debtors
198,745
8,645
---------
---------
384,698
484,156
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
58,492
284,602
Corporation tax
170,994
61,023
Social security and other taxes
31,985
26,244
Other creditors
12,329
16,193
---------
---------
273,800
388,062
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr B Taylor
8,103
( 161,937)
236,300
82,466
Mr L Taylor
( 7,987)
( 153,815)
253,051
91,249
-------
---------
---------
---------
116
( 315,752)
489,351
173,715
-------
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr B Taylor
( 5,082)
( 90,958)
104,143
8,103
Mr L Taylor
( 15,930)
( 90,958)
98,901
( 7,987)
--------
---------
---------
-------
( 21,012)
( 181,916)
203,044
116
--------
---------
---------
-------
10. Related party transactions
The company was under the control of Mr Ben Taylor and Mr Lewis Taylor throughout the current period. During the year dividends totalling £175,000 (2023: £110,000) were paid to the two directors.