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REGISTERED NUMBER: 01094293 (England and Wales)

















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Henry Taylor (Tools) Limited

Henry Taylor (Tools) Limited (Registered number: 01094293)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Henry Taylor (Tools) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr P Wragg
Mrs J Wragg





REGISTERED OFFICE: The Forge Peacock Estate
Livesey Street
Sheffield
South Yorkshire
S6 2BL





REGISTERED NUMBER: 01094293 (England and Wales)





ACCOUNTANTS: Lishmans LLP
16-18 Station Road
Chapeltown
Sheffield
South Yorkshire
S35 2XH

Henry Taylor (Tools) Limited (Registered number: 01094293)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,694 5,794
Tangible assets 5 19,917 27,421
25,611 33,215

CURRENT ASSETS
Stocks 492,318 594,395
Debtors 6 198,999 166,685
Cash at bank and in hand 131,544 94,608
822,861 855,688
CREDITORS
Amounts falling due within one year 7 125,827 151,584
NET CURRENT ASSETS 697,034 704,104
TOTAL ASSETS LESS CURRENT
LIABILITIES

722,645

737,319

PROVISIONS FOR LIABILITIES 8 3,784 5,210
NET ASSETS 718,861 732,109

Henry Taylor (Tools) Limited (Registered number: 01094293)

Balance Sheet - continued
31 December 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 121,469 121,469
Share premium 107,130 107,130
Retained earnings 490,262 503,510
SHAREHOLDERS' FUNDS 718,861 732,109

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.

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 Income Statement has not been delivered.

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





Mr P Wragg - Director


Henry Taylor (Tools) Limited (Registered number: 01094293)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Henry Taylor (Tools) 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.

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, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - at variable rates on reducing balance
Plant and machinery etc - at variable rates on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


Henry Taylor (Tools) Limited (Registered number: 01094293)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 15 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024 211,680
Additions 600
At 31 December 2024 212,280
AMORTISATION
At 1 January 2024 205,886
Charge for year 700
At 31 December 2024 206,586
NET BOOK VALUE
At 31 December 2024 5,694
At 31 December 2023 5,794

Henry Taylor (Tools) Limited (Registered number: 01094293)

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
At 1 January 2024 15,192 266,641 281,833
Additions - 440 440
At 31 December 2024 15,192 267,081 282,273
DEPRECIATION
At 1 January 2024 11,386 243,026 254,412
Charge for year 1,440 6,504 7,944
At 31 December 2024 12,826 249,530 262,356
NET BOOK VALUE
At 31 December 2024 2,366 17,551 19,917
At 31 December 2023 3,806 23,615 27,421

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 154,701 127,226
Other debtors 44,298 39,459
198,999 166,685

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 72,095 119,024
Taxation and social security 21,561 (26 )
Other creditors 32,171 32,586
125,827 151,584

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,784 5,210

Henry Taylor (Tools) Limited (Registered number: 01094293)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 5,210
Provided during year (1,426 )
Balance at 31 December 2024 3,784