Company No:
Contents
DIRECTORS | Mr Colin Bury |
Mrs Charlotte Mortimer | |
Mr Jonathan Parkinson | |
Mrs Christine Smith |
REGISTERED OFFICE | 37a Church Street |
Barnoldswick | |
BB18 5UR | |
United Kingdom |
COMPANY NUMBER | 14063314 (England and Wales) |
CHARTERED ACCOUNTANTS | PM+M Solutions for Business LLP |
New Century House | |
Greenbank Technology Park | |
Challenge Way | |
Blackburn | |
BB1 5QB |
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Intangible assets | 4 |
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13,553 | 15,196 | |||
Current assets | ||||
Debtors | 5 |
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15,600 | 10,803 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets/(liabilities) | 7,110 | (16,253) | ||
Total assets less current liabilities | 20,663 | (1,057) | ||
Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds/(deficit) |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Taylforths Residential Limited (registered number:
Mr Jonathan Parkinson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Taylforths Residential Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 37a Church Street, Barnoldswick, BB18 5UR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
During the current financial year, it was identified that Goodwill was not recognised in the prior year’s financial statements. This oversight has been corrected by restating the comparative figures.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred 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 financial statements. 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 assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Goodwill |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
The financial statements for the prior year have been restated to reflect the introduction of goodwill. The impact of this restatement on the financial statements is as follows:
As previously reported | Adjustment | As restated | ||||
Year ended 30 April 2023 | £ | £ | £ | |||
Cost of goodwill | 0 | 16,428 | 16,428 | |||
Amortisation of goodwill | 0 | (1,232) | (1,232) | |||
Debtors | 27,231 | 436 | 27,667 | |||
Creditors: amounts falling due within one year | (27,056) | (16,864) | (43,920) | |||
Profit and loss account | (25) | (1,232) | (1,257) |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2023 |
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At 30 April 2024 |
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Accumulated amortisation | |||
At 01 May 2023 |
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Charge for the financial year |
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At 30 April 2024 |
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Net book value | |||
At 30 April 2024 |
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At 30 April 2023 |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed by related parties |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Taxation and social security |
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Other creditors |
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Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Duckworths Estate Agents Limited | 14,964 | 0 |
At the balance sheet date, amounts owed by Duckworths Estate Agents Limited totaled £14,964 (2023: £nil). This balance is payable on demand.