IRIS Accounts Production v24.3.2.46 05546026 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055460262023-12-31055460262024-12-31055460262024-01-012024-12-31055460262022-12-31055460262023-01-012023-12-31055460262023-12-3105546026ns15:EnglandWales2024-01-012024-12-3105546026ns14:PoundSterling2024-01-012024-12-3105546026ns10:Director12024-01-012024-12-3105546026ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3105546026ns10:SmallEntities2024-01-012024-12-3105546026ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3105546026ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3105546026ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3105546026ns10:FullAccounts2024-01-012024-12-310554602612024-01-012024-12-3105546026ns10:Director22024-01-012024-12-3105546026ns10:CompanySecretary12024-01-012024-12-3105546026ns10:RegisteredOffice2024-01-012024-12-3105546026ns5:CurrentFinancialInstruments2024-12-3105546026ns5:CurrentFinancialInstruments2023-12-3105546026ns5:ShareCapital2024-12-3105546026ns5:ShareCapital2023-12-3105546026ns5:RevaluationReserve2024-12-3105546026ns5:RevaluationReserve2023-12-3105546026ns5:RetainedEarningsAccumulatedLosses2024-12-3105546026ns5:RetainedEarningsAccumulatedLosses2023-12-3105546026ns5:NetGoodwill2023-12-3105546026ns5:NetGoodwill2024-12-3105546026ns5:NetGoodwill2023-12-3105546026ns5:LandBuildings2023-12-3105546026ns5:PlantMachinery2023-12-3105546026ns5:LandBuildings2024-01-012024-12-3105546026ns5:PlantMachinery2024-01-012024-12-3105546026ns5:LandBuildings2024-12-3105546026ns5:PlantMachinery2024-12-3105546026ns5:LandBuildings2023-12-3105546026ns5:PlantMachinery2023-12-3105546026ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3105546026ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31055460261ns10:Director12023-12-31055460261ns10:Director12022-12-31055460261ns10:Director12024-01-012024-12-31055460261ns10:Director12023-01-012023-12-31055460261ns10:Director12024-12-31055460261ns10:Director12023-12-31
REGISTERED NUMBER: 05546026 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED

TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 05546026)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: C Taylor
A R Taylor





SECRETARY: Mrs P J Taylor





REGISTERED OFFICE: 94 Chorley New Road
Bolton
Greater Manchester
BL1 4DH





REGISTERED NUMBER: 05546026 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 05546026)

STATEMENT OF FINANCIAL POSITION
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 507,109 519,774
507,109 519,774

CURRENT ASSETS
Debtors 6 40,624 34,349
Cash at bank and in hand 126,757 170,642
167,381 204,991
CREDITORS
Amounts falling due within one year 7 110,727 121,045
NET CURRENT ASSETS 56,654 83,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

563,763

603,720

PROVISIONS FOR LIABILITIES 64,601 52,253
NET ASSETS 499,162 551,467

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 203,245 203,245
Retained earnings 295,817 348,122
SHAREHOLDERS' FUNDS 499,162 551,467

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 05546026)

STATEMENT OF FINANCIAL POSITION - continued
31 December 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





A R Taylor - Director


TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 05546026)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Taylor And Taylor Financial Services Limited 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.

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 as modified by the revaluation of certain assets.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the fair value of the commisions and fees earned on business written during the reporting period and business retained from previous periods.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, less depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less estimated residual value of each asset over its estimated useful life.

Land and buildings - 2% on cost or valuation.
Plant and machinery etc. - 25% on cost, 20% on cost, 10% on cost and 2% on cost.

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, Directors' loan accounts, trade creditors, bank loans, Hire Purchase and accruals.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors loan accounts, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash ot other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.


TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 05546026)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 500,000
AMORTISATION
At 1 January 2024
and 31 December 2024 500,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 05546026)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 435,000 262,716 697,716
Additions - 1,594 1,594
At 31 December 2024 435,000 264,310 699,310
DEPRECIATION
At 1 January 2024 - 177,942 177,942
Charge for year - 14,259 14,259
At 31 December 2024 - 192,201 192,201
NET BOOK VALUE
At 31 December 2024 435,000 72,109 507,109
At 31 December 2023 435,000 84,774 519,774

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 116,802 - 116,802
Valuation in 2020 15,000 - 15,000
Valuation in 2023 85,000 - 85,000
Cost 218,198 264,310 482,508
435,000 264,310 699,310

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,073 8,575
Other debtors 24,551 25,774
40,624 34,349

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,428 6,891
Amounts owed to group undertakings - 35,000
Taxation and social security 90,541 66,712
Other creditors 11,758 12,442
110,727 121,045

TAYLOR AND TAYLOR FINANCIAL SERVICES
LIMITED (REGISTERED NUMBER: 05546026)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
A R Taylor
Balance outstanding at start of year - 538
Amounts advanced 1,044 -
Amounts repaid - (538 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,044 -