REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 June 2024 |
for |
Taylor Building Company Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 June 2024 |
for |
Taylor Building Company Ltd |
Taylor Building Company Ltd (Registered number: 06293366) |
Contents of the Financial Statements |
for the Year Ended 28 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Taylor Building Company Ltd |
Company Information |
for the Year Ended 28 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Airport House |
Suite 43-45 |
Purley Way |
Croydon |
CR0 0XZ |
Taylor Building Company Ltd (Registered number: 06293366) |
Balance Sheet |
28 June 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Taylor Building Company Ltd (Registered number: 06293366) |
Balance Sheet - continued |
28 June 2024 |
The financial statements were approved by the director and authorised for issue on |
Taylor Building Company Ltd (Registered number: 06293366) |
Notes to the Financial Statements |
for the Year Ended 28 June 2024 |
1. | STATUTORY INFORMATION |
Taylor Building Company Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company is Building and Maintenance. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover represents amount receivables for goods and services net of VAT and trade discounts. |
TANGIBLE FIXED ASSETS |
Tangible fixed assets are stated at cost less depreciation. |
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: |
Motor vehicles | 20% on Straight line |
Fixtures and fittings | 20% on Straight line |
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. |
FINANCIAL INSTRUMENTS |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
TAXATION |
The tax expense represents the sum of the tax currently payable and deferred tax. |
CURRENT TAX |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date. |
Taylor Building Company Ltd (Registered number: 06293366) |
Notes to the Financial Statements - continued |
for the Year Ended 28 June 2024 |
2. | ACCOUNTING POLICIES - continued |
LEASING COMMITMENTS |
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 lease s asset are consumed. |
GOING CONCERN |
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
PROVISIONS FOR LIABILITIES |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
Provisions are charged as an expense to the Statement of Income and Retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the Balance sheet. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 29 June 2023 |
Additions |
At 28 June 2024 |
DEPRECIATION |
At 29 June 2023 |
Charge for year |
At 28 June 2024 |
NET BOOK VALUE |
At 28 June 2024 |
At 28 June 2023 |
Taylor Building Company Ltd (Registered number: 06293366) |
Notes to the Financial Statements - continued |
for the Year Ended 28 June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
The directors consider the carrying value of trade and other receivables approximate to their fair values. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
The director considers the carrying amounts of current liabilities approximate to their fair values. |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
8. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 5,692 | 2,036 |
Deferred |
tax |
£ |
Balance at 29 June 2023 |
Provided during year |
Balance at 28 June 2024 |
9. | RESERVES |
PROFIT AND LOSS RESERVES |
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve. |
Taylor Building Company Ltd (Registered number: 06293366) |
Notes to the Financial Statements - continued |
for the Year Ended 28 June 2024 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 28 June 2024 and 28 June 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
11. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, included in other creditors are amounts payable to director of £68,552 (2023 - £83,680). This loan is interest free and repayable on demand. |