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Registration number: 06201601

Rotherham Taylor Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Rotherham Taylor Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Rotherham Taylor Limited

Company Information

Directors

Miss R A Bradshaw

Mrs C D Greenbank

Mr MW Barton

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Rotherham Taylor Limited

(Registration number: 06201601)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

27,328

30,365

Tangible assets

5

32,348

32,561

Investments

6

2

2

 

59,678

62,928

Current assets

 

Stocks

7

166,242

123,276

Debtors

8

280,790

330,182

Cash at bank and in hand

 

449,852

458,068

 

896,884

911,526

Creditors: Amounts falling due within one year

9

(223,207)

(242,337)

Net current assets

 

673,677

669,189

Total assets less current liabilities

 

733,355

732,117

Provisions for liabilities

(7,812)

(7,805)

Net assets

 

725,543

724,312

Capital and reserves

 

Called up share capital

508

508

Retained earnings

725,035

723,804

Shareholders' funds

 

725,543

724,312

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Rotherham Taylor Limited

(Registration number: 06201601)
Balance Sheet as at 31 August 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 May 2025 and signed on its behalf by:
 

.........................................
Miss R A Bradshaw
Director

   
     
 

Rotherham Taylor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Exemption has been taken under the provisions of the Companies Act 2006 from preparing consolidated financial statements. These statements therefore contain information about Rotherham Taylor Limited as an individual company and do not contain consolidated financial information as the parent of a group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:the amount of revenue can be reliably measured;it is probable that future economic benefits will flow to the entity;and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Rotherham Taylor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.


Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% on cost and 10% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 years on cost

Investments

Investments in subsidiary undertakings are shown at cost less provision for impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Rotherham Taylor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Work in progress is stated at estimated realisable value, after providing for non-recoverable amounts.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Rotherham Taylor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Financial instruments

The company only enters into basic financial instruments 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 non-puttable 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 profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

60,729

60,729

At 31 August 2024

60,729

60,729

Amortisation

At 1 September 2023

30,364

30,364

Amortisation charge

3,037

3,037

At 31 August 2024

33,401

33,401

Carrying amount

At 31 August 2024

27,328

27,328

At 31 August 2023

30,365

30,365

 

Rotherham Taylor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

50,137

29,627

79,764

Additions

-

6,567

6,567

Disposals

-

(786)

(786)

At 31 August 2024

50,137

35,408

85,545

Depreciation

At 1 September 2023

25,044

22,159

47,203

Charge for the year

2,510

4,270

6,780

Eliminated on disposal

-

(786)

(786)

At 31 August 2024

27,554

25,643

53,197

Carrying amount

At 31 August 2024

22,583

9,765

32,348

At 31 August 2023

25,093

7,468

32,561

 

Rotherham Taylor Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 September 2023

2

Provision

Carrying amount

At 31 August 2024

2

At 31 August 2023

2

7

Stocks

2024
£

2023
£

Work in progress

166,242

123,276

8

Debtors

Current

2024
£

2023
£

Trade debtors

267,524

311,770

Prepayments

7,934

14,353

Other debtors

5,332

4,059

 

280,790

330,182

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

6,113

13,810

Taxation and social security

211,961

222,701

Accruals and deferred income

3,478

3,863

Other creditors

1,655

1,963

223,207

242,337