Company registration number 07451397 (England and Wales)
Taylor Art Stone Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 November 2024
PAGES FOR FILING WITH REGISTRAR
Taylor Art Stone Limited
Statement of financial position
as at 30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
60,553
71,291
Current assets
Stocks
800
14,500
Debtors
23,479
65,836
Cash at bank and in hand
3,553
3,483
27,832
83,819
Creditors: amounts falling due within one year
(74,581)
(107,096)
Net current liabilities
(46,749)
(23,277)
Total assets less current liabilities
13,804
48,014
Creditors: amounts falling due after more than one year
(5,776)
(16,418)
Provisions for liabilities
(11,300)
(15,148)
Net (liabilities)/assets
(3,272)
16,448
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(3,372)
16,348
Total equity
(3,272)
16,448
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
Taylor Art Stone Limited
Statement of financial position (continued)
as at 30 November 2024
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered 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 5 February 2025 and are signed on its behalf by:
M Taylor
Director
Company Registration No. 07451397
Taylor Art Stone Limited
Notes to the financial statements
for the year ended 30 November 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Leases
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 leases asset are consumed.
Taylor Art Stone Limited
Notes to the financial statements (continued)
for the year ended 30 November 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
121,622
8,507
50,520
180,649
Additions
1,842
1,842
At 30 November 2024
123,464
8,507
50,520
182,491
Depreciation and impairment
At 1 December 2023
69,165
5,778
34,415
109,358
Depreciation charged in the year
8,145
409
4,026
12,580
At 30 November 2024
77,310
6,187
38,441
121,938
Carrying amount
At 30 November 2024
46,154
2,320
12,079
60,553
At 30 November 2023
52,457
2,729
16,105
71,291
4
Company information
Taylor Art Stone Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Green Hall Park, Shelf, Halifax, HX3 7PZ.