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REGISTERED NUMBER: 05825007 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

M J Taylor & Son Ltd.

M J Taylor & Son Ltd. (Registered number: 05825007)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


M J Taylor & Son Ltd.

Company Information
for the year ended 31 May 2024







DIRECTORS: M J Taylor
A Taylor





REGISTERED OFFICE: 13a Duke Street
Southport
Merseyside
PR8 1LS





REGISTERED NUMBER: 05825007 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
13a Duke Street
Southport
Merseyside
PR8 1LS

M J Taylor & Son Ltd. (Registered number: 05825007)

Balance Sheet
31 May 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 6,000 9,000
Tangible assets 5 4,158 2,041
10,158 11,041

CURRENT ASSETS
Stocks 800 900
Debtors 6 1,400 1,200
Cash at bank 18,257 11,995
20,457 14,095
CREDITORS
Amounts falling due within one year 7 (17,070 ) (11,713 )
NET CURRENT ASSETS 3,387 2,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,545

13,423

CREDITORS
Amounts falling due after more than one year 8 (2,500 ) (4,901 )
NET ASSETS 11,045 8,522

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10,945 8,422
SHAREHOLDERS' FUNDS 11,045 8,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:





M J Taylor - Director


M J Taylor & Son Ltd. (Registered number: 05825007)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

M J Taylor & Son Ltd. 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill is being written off on a straight line basis based on its estimated remaining life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

M J Taylor & Son Ltd. (Registered number: 05825007)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2023
and 31 May 2024 15,000
AMORTISATION
At 1 June 2023 6,000
Charge for year 3,000
At 31 May 2024 9,000
NET BOOK VALUE
At 31 May 2024 6,000
At 31 May 2023 9,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 June 2023 100 6,450 515 7,065
Additions - 3,600 - 3,600
Disposals - (1,700 ) - (1,700 )
At 31 May 2024 100 8,350 515 8,965
DEPRECIATION
At 1 June 2023 93 4,448 483 5,024
Charge for year 1 1,031 5 1,037
Eliminated on disposal - (1,254 ) - (1,254 )
At 31 May 2024 94 4,225 488 4,807
NET BOOK VALUE
At 31 May 2024 6 4,125 27 4,158
At 31 May 2023 7 2,002 32 2,041

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors - 1,200
Other debtors 1,400 -
1,400 1,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 2,500 2,602
Trade creditors 4,241 2,569
Taxation and social security 1,502 658
Other creditors 8,827 5,884
17,070 11,713

M J Taylor & Son Ltd. (Registered number: 05825007)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 2,500 4,901

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100