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REGISTERED NUMBER: 00519939 (England and Wales)






















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 31 July 2024

for

Taylor Lindsey Limited

Taylor Lindsey Limited (Registered number: 00519939)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 6

Balance Sheet 7

Statement of Changes in Equity 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


Taylor Lindsey Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J R S Taylor
R C S Taylor





REGISTERED OFFICE: 98 Searby Road
Lincoln
LN2 4DT





REGISTERED NUMBER: 00519939 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Taylor Lindsey Limited (Registered number: 00519939)

Strategic Report
for the Year Ended 31 July 2024

The directors present their strategic report for the year ended 31 July 2024.

REVIEW OF BUSINESS
The number of residential properties developed by the company reflects the wish of the directors to operate in a sustainable manner without experiencing large swings in activity levels. It is a strategy of the company to focus on house building in Lincolnshire and, where possible, to maintain a consistent level of building activity. Whilst sales of new houses dipped slightly in this financial year due to economic factors and the company completing a stage of affordable housing, development continued in a similar manner to the previous accounting periods.

We continue to add to our stock of leased properties, which are a blend of residential and commercial properties, the rental income from which provides a sustainable source of income for the company. A number of new commercial and residential developments were completed during the year with further ongoing projects at the year end.

Overall, the turnover of the company fell slightly in the year to £18.30m, compared to £21.48m at the 2023 year end.

The company's profit before taxation for the year, excluding the fair value adjustment, was £3.29m (2023: £4.54m), added to which was an increase in the value of properties held by the company. The company saw its overall net assets increase from £107.80m at the 2023 year end to £111.00m at the 2024 year end.

The strength of the company's balance sheet means it is well placed to continue with its activities into the future. The company also has strong liquidity; at the year end the company had cash reserves of £9.90m, which are sufficient to fund its working capital requirements and planned property development.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors regularly review any risks facing the business and put in place appropriate measures to mitigate them.

A risk endemic in many sectors, including ours, relates to the supply of materials and labour. We have mitigated material supply risks by making sure our stock levels are sufficiently high and that we have in place more than one supplier for all of our key materials. We have mitigated the risks of labour shortages by paying competitive rates for our workers.

There are always risks relating to fluctuations in the property market however we mitigate this risk by maintaining strong liquidity, a good portfolio of leased properties, and a significant land stock which will provide us with a supply of land well into the future.

ON BEHALF OF THE BOARD:





R C S Taylor - Director


24 April 2025

Taylor Lindsey Limited (Registered number: 00519939)

Report of the Directors
for the Year Ended 31 July 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of construction and property management.

DIVIDENDS
No dividends will be distributed for the year ended 31 July 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

J R S Taylor
R C S Taylor

Other changes in directors holding office are as follows:

Mrs S M Taylor - deceased 15 August 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





R C S Taylor - Director


24 April 2025

Report of the Independent Auditors to the Members of
Taylor Lindsey Limited

Opinion
We have audited the financial statements of Taylor Lindsey Limited (the 'company') for the year ended 31 July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Taylor Lindsey Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We plan our work to gain an understanding of the significant laws and regulations that are of significance to the
entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its
legal and regulatory framework.
- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by
making inquiries to the management and people charged with governance.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
- Substantive procedures performed in accordance with the ISAs (UK).
- Challenging assumptions and judgments made by management in its significant accounting estimates.
- Identifying and testing journal entries, in particular material journal entries and an assessment of year end
journals.
- Assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Shaw BSc FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

24 April 2025

Taylor Lindsey Limited (Registered number: 00519939)

Statement of Comprehensive
Income
for the Year Ended 31 July 2024

2024 2023
Notes £    £   

TURNOVER 3 18,300,567 21,481,935

Cost of sales 7,384,951 13,217,970
GROSS PROFIT 10,915,616 8,263,965

Administrative expenses 7,511,223 3,748,594
3,404,393 4,515,371

Other operating income 4 29,526 52,912
Gain on revaluation of investment property 1,555,294 2,267,981
OPERATING PROFIT 7 4,989,213 6,836,264

Interest receivable and similar income 354,919 194,456
5,344,132 7,030,720

Interest payable and similar expenses 8 502,870 223,446
PROFIT BEFORE TAXATION 4,841,262 6,807,274

Tax on profit 9 1,637,236 1,515,974
PROFIT FOR THE FINANCIAL YEAR 3,204,026 5,291,300

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

3,204,026

5,291,300

Taylor Lindsey Limited (Registered number: 00519939)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 11 1,703,693 1,863,431
Investments 12 - -
Investment property 13 89,936,067 87,309,587
91,639,760 89,173,018

CURRENT ASSETS
Stocks 14 27,303,809 26,776,645
Debtors 15 5,348,781 4,585,417
Cash at bank and in hand 9,900,152 8,672,283
42,552,742 40,034,345
CREDITORS
Amounts falling due within one year 16 11,897,898 10,556,017
NET CURRENT ASSETS 30,654,844 29,478,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,294,604

118,651,346

CREDITORS
Amounts falling due after more than one
year

17

(3,948,500

)

(3,948,500

)

PROVISIONS FOR LIABILITIES 19 (7,342,521 ) (6,903,289 )
NET ASSETS 111,003,583 107,799,557

CAPITAL AND RESERVES
Called up share capital 20 26,744 26,744
Share premium 21 2,066,628 2,066,628
Retained earnings 21 108,910,211 105,706,185
SHAREHOLDERS' FUNDS 111,003,583 107,799,557

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





J R S Taylor - Director


Taylor Lindsey Limited (Registered number: 00519939)

Statement of Changes in Equity
for the Year Ended 31 July 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 August 2022 26,744 104,414,885 2,066,628 106,508,257

Changes in equity
Dividends - (4,000,000 ) - (4,000,000 )
Total comprehensive income - 5,291,300 - 5,291,300
Balance at 31 July 2023 26,744 105,706,185 2,066,628 107,799,557

Changes in equity
Total comprehensive income - 3,204,026 - 3,204,026
Balance at 31 July 2024 26,744 108,910,211 2,066,628 111,003,583

Taylor Lindsey Limited (Registered number: 00519939)

Cash Flow Statement
for the Year Ended 31 July 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,911,795 8,341,004
Interest paid (205,815 ) (34,378 )
Finance costs paid (297,055 ) (189,068 )
Tax paid (756,065 ) (2,151,817 )
Net cash from operating activities 2,652,860 5,965,741

Cash flows from investing activities
Purchase of tangible fixed assets (80,222 ) (268,174 )
Purchase of investment property (1,071,186 ) (772,813 )
Sale of tangible fixed assets 157,169 195,435
Interest received 354,919 194,456
Net cash from investing activities (639,320 ) (651,096 )

Cash flows from financing activities
Amount introduced by directors 109,153 4,349,950
Amount withdrawn by directors (894,824 ) (3,734,108 )
Equity dividends paid - (4,000,000 )
Net cash from financing activities (785,671 ) (3,384,158 )

Increase in cash and cash equivalents 1,227,869 1,930,487
Cash and cash equivalents at beginning
of year

2

8,672,283

6,741,796

Cash and cash equivalents at end of year 2 9,900,152 8,672,283

Taylor Lindsey Limited (Registered number: 00519939)

Notes to the Cash Flow Statement
for the Year Ended 31 July 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 4,841,262 6,807,274
Depreciation charges 194,128 214,206
Profit on disposal of fixed assets (111,337 ) (97,366 )
Gain on revaluation of fixed assets (1,555,294 ) (2,267,981 )
Finance costs 502,870 223,446
Finance income (354,919 ) (194,456 )
3,516,710 4,685,123
Increase in stocks (527,164 ) (7,824,616 )
(Increase)/decrease in trade and other debtors (763,364 ) 7,602,573
Increase in trade and other creditors 1,685,613 3,877,924
Cash generated from operations 3,911,795 8,341,004

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 9,900,152 8,672,283
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 8,672,283 6,741,796


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 8,672,283 1,227,869 9,900,152
8,672,283 1,227,869 9,900,152
Debt
Debts falling due after 1 year (3,948,500 ) - (3,948,500 )
(3,948,500 ) - (3,948,500 )
Total 4,723,783 1,227,869 5,951,652

Taylor Lindsey Limited (Registered number: 00519939)

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

1. STATUTORY INFORMATION

Taylor Lindsey 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of land and property sales made and rental income from investment properties during the year, excluding value added tax.

Turnover from land and property sales is recognised at the date of completion. Rental income received from investment properties is recognised in advance at the start of each month/quarter. An adjustment is made at the year end to defer any rental income not relating to the current period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

Stocks
Land on hand and work in progress have been valued at the lower of cost and net realisable value with due allowance for obsolete or slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads apart from land on hand where cost includes only direct expenditure.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Taylor Lindsey Limited (Registered number: 00519939)

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

2. ACCOUNTING POLICIES - continued
Current and deferred taxation
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.

Pension costs and other post-retirement benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Land and property sales 10,530,314 14,336,066
Rent and service charges 7,769,995 7,019,807
Contract income 258 126,062
18,300,567 21,481,935

The Company's entire turnover is to customers in the United Kingdom.

4. OTHER OPERATING INCOME
2024 2023
£    £   
Administration recharge 21,083 26,236
Other income 236 2,628
Insurance claims 8,207 24,048
29,526 52,912

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 6,943,794 3,976,174
Social security costs 986,788 537,511
Other pension costs 464,000 120,000
8,394,582 4,633,685

The average number of employees during the year was as follows:
2024 2023

Administration & professional 21 20
Site 15 16
Director 2 3
38 39

Taylor Lindsey Limited (Registered number: 00519939)

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

6. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Directors' remuneration 5,184,254 2,500,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 2,631,954 1,250,000

7. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 194,128 214,206
Profit on disposal of fixed assets (111,337 ) (97,366 )
Auditors' remuneration 16,250 15,500

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Corporation tax interest - 34,378
Settlement interest 205,815 -
Dividend - series 1 variable rate preference
shares

112,097

71,347
Dividend - series 2 variable rate preference
shares

56,048

35,673
Dividend - series 3 variable rate preference
shares

56,048

35,673
Dividend - series 4 variable rate preference
shares

22,419

14,269
Dividend - series 5 variable
rate preference shares 22,419 14,269
Dividend - series 6 variable
rate preference shares 28,024 17,837
502,870 223,446

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,198,004 956,065

Deferred tax:
Accelerated capital allowances 8,712 39,487
Unrealised gain on properties 430,520 520,422
Total deferred tax 439,232 559,909
Tax on profit 1,637,236 1,515,974

Taylor Lindsey Limited (Registered number: 00519939)

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

9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 4,841,262 6,807,274
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

1,210,316

1,701,819

Effects of:
Expenses not deductible for tax purposes 2,111 36
Capital allowances in excess of depreciation - (48,750 )
Depreciation in excess of capital allowances 6,184 -
Profit on disposal of fixed assets (27,835 ) (24,342 )
Appropriation of stock to fixed assets - 92,000
Preference dividends 74,264 47,267
General provisions (3,375 ) (9,844 )
Land remediation (3,632 ) (6,527 )
Structures and Buildings Allowance (39,600 ) (46,789 )
(Gain)/Loss on fair value adjustment (388,824 ) (566,995 )
Deferred tax 439,232 559,909
Difference between standard rate of corporation tax and actual for period - (181,810 )
Enquiry settlement 368,395 -
Total tax charge 1,637,236 1,515,974

10. DIVIDENDS
2024 2023
£    £   
A Preferred Ordinary Shares shares of 10p each
Interim - 188,114
B Preferred Ordinary Shares shares of 10p each
Interim - 188,114
A Ordinary Shares shares of 10p each
Interim - 1,811,886
B Ordinary Shares shares of 10p each
Interim - 1,811,886
- 4,000,000

Taylor Lindsey Limited (Registered number: 00519939)

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

11. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2023 1,314,025 1,189,517 1,804
Additions - - -
Disposals - (116,200 ) -
At 31 July 2024 1,314,025 1,073,317 1,804
DEPRECIATION
At 1 August 2023 160,773 700,624 964
Charge for year 26,280 118,840 211
Eliminated on disposal - (102,668 ) -
At 31 July 2024 187,053 716,796 1,175
NET BOOK VALUE
At 31 July 2024 1,126,972 356,521 629
At 31 July 2023 1,153,252 488,893 840

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 514,293 37,993 3,057,632
Additions 71,663 8,559 80,222
Disposals (134,813 ) - (251,013 )
At 31 July 2024 451,143 46,552 2,886,841
DEPRECIATION
At 1 August 2023 315,177 16,663 1,194,201
Charge for year 39,520 9,277 194,128
Eliminated on disposal (102,513 ) - (205,181 )
At 31 July 2024 252,184 25,940 1,183,148
NET BOOK VALUE
At 31 July 2024 198,959 20,612 1,703,693
At 31 July 2023 199,116 21,330 1,863,431

12. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Newland Freeholds Limited
Registered office: United Kingdom
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Taylor Lindsey Limited (Registered number: 00519939)

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

13. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 87,309,587
Additions 1,071,186
Revaluations 1,555,294
At 31 July 2024 89,936,067
NET BOOK VALUE
At 31 July 2024 89,936,067
At 31 July 2023 87,309,587

The properties were valued by RCS Taylor and the company's in house chartered surveyors, who are members of RICS, on the basis described in the accounting policy notes for investment property at 31 July 2024. In their opinion, this valuation fairly reflects the value of properties at 31 July 2024.

Cost or valuation of investment properties at 31 July 2024 is represented by:

2024 2023
£ £
Valuation 43,054,611 41,592,168
Cost 46,881,456 45,717,419
89,936,067 87,309,587

14. STOCKS
2024 2023
£    £   
Properties for resale 3,700,738 3,553,409
Land on hand 14,629,023 15,078,451
Work-in-progress 8,974,048 8,144,785
27,303,809 26,776,645

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,073 33,458
Other debtors 3,891,495 4,551,959
Assets under construction 1,337,910 -
VAT 106,303 -
5,348,781 4,585,417

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,600,050 1,206,900
Corporation tax 598,004 156,065
Social security and other taxes 1,619,241 1,588,141
VAT - 103,438
Other creditors 575,540 244,114
Directors' loan accounts 221,414 1,007,085
Accruals and deferred income 7,283,649 6,250,274
11,897,898 10,556,017

Taylor Lindsey Limited (Registered number: 00519939)

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

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Preference shares (see note 18) 3,948,500 3,948,500

18. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between two and five years:
Preference shares 3,948,500 3,948,500

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,490,000 Series 1 Variable Rate £1 1,490,000 1,490,000
745,000 Series 2 Variable Rate £1 745,000 745,000
745,000 Series 3 Variable Rate £1 745,000 745,000
298,000 Series 4 Variable Rate £1 298,000 298,000
298,000 Series 5 Variable Rate £1 298,000 298,000
372,500 Series 6 Variable Rate £1 372,500 372,500
3,948,500 3,948,500

The Preference Shares are redeemable at par at the shareholders option, at a date not less than six months from the date the option is exercised. At the date of signing these accounts no option had been exercised.

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 173,927 165,215
Unrealised gains on properties 7,168,594 6,738,074
7,342,521 6,903,289

Deferred
tax
£   
Balance at 1 August 2023 6,903,289
Provided during the year on:
Accelerated capital allowances 8,712
Unrealised gain on properties 430,520
Balance at 31 July 2024 7,342,521

Taylor Lindsey Limited (Registered number: 00519939)

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

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
182 A Preferred Ordinary Shares 10p 18 18
182 B Preferred Ordinary Shares 10p 18 18
1,753 A Ordinary Shares 10p 175 175
1,753 B Ordinary Shares 10p 175 175
1,596 C Ordinary Shares 10p 160 160
1,596 D Ordinary shares 10p 160 160
189 C Preferred Ordinary Shares 10p 19 19
189 D Preferred Ordinary Shares 10p 19 19
744 744

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
2,600,000 E Class Shares £1 26,000 26,000

21. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 August 2023 105,706,185 2,066,628 107,772,813
Profit for the year 3,204,026 3,204,026
At 31 July 2024 108,910,211 2,066,628 110,976,839

22. PENSION COMMITMENTS

The company operates a non-contributory pension scheme. It is a defined contribution scheme and contributions are charged in the profit and loss account as they accrue. The charge for the year was £464,000 (2023: £120,000).

23. CONTINGENT LIABILITIES

Handelsbanken has provided, in the ordinary course of business, guarantee bonds of £670,863 (2023: £1,479,574) to local authorities for road developments undertaken by the company.

24. RELATED PARTY DISCLOSURES

Entities controlled by key management personnel

At 31 July 2024, the amount owed from entities controlled by key management personnel was £3,820,090 (2023: £2,897,337).

Transactions with connected persons

At 31 July 2024, the amount owed to connected persons was £4,257 (2023: £4,257).

25. CONTROLLING PARTIES

The company is under the control of the directors.