Registered number
07173903
Coop Taylor Ltd
Filleted Accounts
31 July 2024
Coop Taylor Ltd
Registered number: 07173903
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 713,994 480,333
Current assets
Stocks - 218,877
Debtors 4 6,736 954
Investments held as current assets 5 2 2
Cash at bank and in hand 346 347
7,084 220,180
Creditors: amounts falling due within one year 6 (479,663) (457,407)
Net current liabilities (472,579) (237,227)
Total assets less current liabilities 241,415 243,106
Creditors: amounts falling due after more than one year 7 (42,456) (41,421)
Net assets 198,959 201,685
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 197,095 197,095
Profit and loss account 1,863 4,589
Shareholder's funds 198,959 201,685
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr T Taylor
Director
Approved by the board on 9 April 2025
Coop Taylor Ltd
Notes to the Accounts
for the year ended 31 July 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:
Motor Vehicles over 4 years
Leasehold land and buildings over the lease term
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 480,000 666 24,000 504,666
Additions 233,827 - - 233,827
Disposals - - (24,000) (24,000)
At 31 July 2024 713,827 666 - 714,493
Depreciation
At 1 August 2023 - 333 24,000 24,333
Charge for the year - 166 - 166
On disposals - - (24,000) (24,000)
At 31 July 2024 - 499 - 499
Net book value
At 31 July 2024 713,827 167 - 713,994
At 31 July 2023 480,000 333 - 480,333
4 Debtors 2024 2023
£ £
Trade debtors 1,160 -
Other debtors 5,576 954
6,736 954
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 2 2
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 85
Trade creditors 3,895 6,975
Taxation and social security costs (136) (178)
Other creditors 475,904 450,525
479,663 457,407
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 42,456 41,421
8 Revaluation reserve 2024 2023
£ £
At 1 August 2023 197,095 197,095
At 31 July 2024 197,095 197,095
9 Other information
Coop Taylor Ltd is a private company limited by shares and incorporated in England. Its registered office is:
47 St Georges Estate
Washington
NE38 9AU
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