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REGISTERED NUMBER: 01754575















TAYLEIGH LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024






TAYLEIGH LIMITED (REGISTERED NUMBER: 01754575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


TAYLEIGH LIMITED (REGISTERED NUMBER: 01754575)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 480,000 480,000

CURRENT ASSETS
Debtors 5 74,122 95,268
Cash at bank 474,659 475,103
548,781 570,371
CREDITORS
Amounts falling due within one year 6 14,019 38,646
NET CURRENT ASSETS 534,762 531,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,014,762

1,011,725

PROVISIONS FOR LIABILITIES 9,723 9,723
NET ASSETS 1,005,039 1,002,002

CAPITAL AND RESERVES
Called up share capital 154,508 154,508
Share premium 51,238 51,238
Non-distributable reserve 227,425 227,425
Retained earnings 571,868 568,831
SHAREHOLDERS' FUNDS 1,005,039 1,002,002

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 Profit and Loss Account has not been delivered.

TAYLEIGH LIMITED (REGISTERED NUMBER: 01754575)

BALANCE SHEET - continued
31 MAY 2024



The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





S D Pollack - Director


TAYLEIGH LIMITED (REGISTERED NUMBER: 01754575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Tayleigh Limited is a private company, limited by shares, registered in England. The registered office is 8 The Radlett, 18 Watford Road, Radlett, England, WD7 8LE.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from the standard. The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment properties.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover
Turnover represents rents and charges receivable during the year. The company's policy is to recognise income on a straight line basis over the term of the lease agreements.

Investment property
All of the company's properties are held for long term investment. Investment properties are accounted for as
follows:-

(i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.


TAYLEIGH LIMITED (REGISTERED NUMBER: 01754575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

TAYLEIGH LIMITED (REGISTERED NUMBER: 01754575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 480,000
NET BOOK VALUE
At 31 May 2024 480,000
At 31 May 2023 480,000

The company's investment properties are held for use under operating leases.

The fair value of the investment properties at the balance sheet date has been arrived at on the basis of a valuation carried out at that date by the directors who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 905 43,283
Other debtors 73,217 51,985
74,122 95,268

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 136 136
Taxation and social security 6,286 20,965
Other creditors 7,597 17,545
14,019 38,646

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
A Pollack
Balance outstanding at start of year 4,489 (43,807 )
Amounts advanced 14,765 48,833
Amounts repaid (5,537 ) (537 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,717 4,489

TAYLEIGH LIMITED (REGISTERED NUMBER: 01754575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Interest has been charged on the above loan at the official HMRC rate and it has also been repaid since the year end.

8. RELATED PARTY DISCLOSURES

At the balance sheet date, £59,500 (2023: £42,500) was owed from a company under the control of a director. This amount is included within Other debtors and is unsecured, interest free and no repayment terms have been established.

Within the year fees have been charged for services provided by a company under the control of a director, totalling £11,940. These have been included in management fees and legal and professional fees in the profit and loss.

Additional related party information is included in note 8.