Registered number
01973921
Taylor Pearce Restoration Services Limited
Unaudited Filleted Accounts
for the year ended
31 March 2024
Taylor Pearce Restoration Services Limited
Registered number: 01973921
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 25,362 28,428
Current assets
Stock and WIP 17,750 17,750
Debtors 4 146,537 188,074
Cash at bank and in hand 161,306 94,572
325,593 300,396
Creditors: amounts falling due within one year 5 (104,932) (96,267)
Net current assets 220,661 204,129
Total assets less current liabilities 246,023 232,557
Creditors: amounts falling due after more than one year 6 (85,000) (115,000)
Provisions for liabilities (5,498) (5,498)
Net assets 155,525 112,059
Capital and reserves
Called up share capital 1,067 1,067
Revaluation reserve 7 533 533
Profit and loss account 153,925 110,459
Shareholders' funds 155,525 112,059
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Taylor
Director
Approved by the board on 6 March 2025
Taylor Pearce Restoration Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 20% reducing balance
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 7,958 150,671 14,898 173,527
Additions - 3,275 - 3,275
At 31 March 2024 7,958 153,946 14,898 176,802
Depreciation
At 1 April 2023 7,933 122,884 14,282 145,099
Charge for the year 5 6,213 123 6,341
At 31 March 2024 7,938 129,097 14,405 151,440
Net book value
At 31 March 2024 20 24,849 493 25,362
At 31 March 2023 25 27,787 616 28,428
4 Debtors 2024 2023
£ £
Trade debtors 97,650 146,637
Other debtors 48,887 41,437
146,537 188,074
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 7,594 11,678
Taxation and social security costs 95,728 82,979
Other creditors 1,610 1,610
104,932 96,267
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 85,000 115,000
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 533 533
At 31 March 2024 533 533
8 Controlling party
There is no one controlling party of Taylor Pearce Restoration Services Limited. The 1067 shares are divided D Cox 446, K Taylor 446, and M Nation 175.
9 Other information
Taylor Pearce Restoration Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Fishers Court
Off Besson Street
New Cross
London
SE14 5AF
Taylor Pearce Restoration Services Limited 01973921 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 K Taylor No description of principal activity 01973921 2022-04-01 2023-03-31 01973921 core:WithinOneYear 2023-03-31 01973921 core:AfterOneYear 2023-03-31 01973921 core:ShareCapital 2023-03-31 01973921 core:OtherReservesSubtotal 2023-03-31 01973921 core:RetainedEarningsAccumulatedLosses 2023-03-31 01973921 core:RevaluationReserve 2022-03-31 01973921 2023-04-01 2024-03-31 01973921 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01973921 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01973921 bus:Director40 2023-04-01 2024-03-31 01973921 1 2023-04-01 2024-03-31 01973921 2 2023-04-01 2024-03-31 01973921 core:LandBuildings 2023-04-01 2024-03-31 01973921 core:PlantMachinery 2023-04-01 2024-03-31 01973921 core:Vehicles 2023-04-01 2024-03-31 01973921 countries:England 2023-04-01 2024-03-31 01973921 bus:FRS102 2023-04-01 2024-03-31 01973921 bus:FilletedAccounts 2023-04-01 2024-03-31 01973921 2024-03-31 01973921 core:WithinOneYear 2024-03-31 01973921 core:AfterOneYear 2024-03-31 01973921 core:ShareCapital 2024-03-31 01973921 core:OtherReservesSubtotal 2024-03-31 01973921 core:RetainedEarningsAccumulatedLosses 2024-03-31 01973921 core:LandBuildings 2024-03-31 01973921 core:PlantMachinery 2024-03-31 01973921 core:Vehicles 2024-03-31 01973921 core:RevaluationReserve 2024-03-31 01973921 2023-03-31 01973921 core:LandBuildings 2023-03-31 01973921 core:PlantMachinery 2023-03-31 01973921 core:Vehicles 2023-03-31 01973921 core:RevaluationReserve 2023-03-31 iso4217:GBP xbrli:pure