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REGISTERED NUMBER: 07740764 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Taylor Technology Systems Limited

Taylor Technology Systems Limited (Registered number: 07740764)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Taylor Technology Systems Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: M W Taylor
F JT Topple





SECRETARY: Miss L Taylor





REGISTERED OFFICE: Richmond Court
128 Maidstone Road
Sidcup
Kent
DA14 5HS





REGISTERED NUMBER: 07740764 (England and Wales)





ACCOUNTANTS: Henry Reeves & Co Limited
Chartered Certified Accountants
5 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD

Taylor Technology Systems Limited (Registered number: 07740764)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 285,334 94,126
285,334 94,126

CURRENT ASSETS
Stocks 82,452 25,256
Debtors 6 940,922 1,206,078
Cash at bank 476,439 786,579
1,499,813 2,017,913
CREDITORS
Amounts falling due within one year 7 610,420 781,909
NET CURRENT ASSETS 889,393 1,236,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,174,727

1,330,130

CREDITORS
Amounts falling due after more than one
year

8

(125,623

)

-

PROVISIONS FOR LIABILITIES (54,214 ) (23,532 )
NET ASSETS 994,890 1,306,598

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 994,790 1,306,498
SHAREHOLDERS' FUNDS 994,890 1,306,598

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Technology Systems Limited (Registered number: 07740764)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





M W Taylor - Director


Taylor Technology Systems Limited (Registered number: 07740764)

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

1. STATUTORY INFORMATION

Taylor Technology Systems 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 represents net sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of four 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and Machinery - 25% Straight Line
Office Equipment - 25% Straight Line
Furniture and Fixtures - 25% Straight Line
Motor Vehicles - 25% Straight Line
Improvements to property - 10% Straight Line

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.


Taylor Technology Systems Limited (Registered number: 07740764)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 29 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 2,000
AMORTISATION
At 1 September 2023
and 31 August 2024 2,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

Taylor Technology Systems Limited (Registered number: 07740764)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 3,032 39,775 260,824 69,978 373,609
Additions - - 283,284 8,011 291,295
Disposals - - (187,543 ) - (187,543 )
At 31 August 2024 3,032 39,775 356,565 77,989 477,361
DEPRECIATION
At 1 September 2023 3,032 35,993 190,742 49,716 279,483
Charge for year - 575 65,945 9,842 76,362
Eliminated on disposal - - (163,818 ) - (163,818 )
At 31 August 2024 3,032 36,568 92,869 59,558 192,027
NET BOOK VALUE
At 31 August 2024 - 3,207 263,696 18,431 285,334
At 31 August 2023 - 3,782 70,082 20,262 94,126

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 155,289
Additions 273,854
Disposals (155,288 )
At 31 August 2024 273,855
DEPRECIATION
At 1 September 2023 112,152
Charge for year 53,643
Eliminated on disposal (131,563 )
At 31 August 2024 34,232
NET BOOK VALUE
At 31 August 2024 239,623
At 31 August 2023 43,137

Taylor Technology Systems Limited (Registered number: 07740764)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 291,249 335,895
Other debtors 649,673 870,183
940,922 1,206,078

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 24,159 5,318
Trade creditors 313,451 551,413
Taxation and social security 173,434 182,280
Other creditors 99,376 42,898
610,420 781,909

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 125,623 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 24,159 5,318
Between one and five years 125,623 -
149,782 5,318

Non-cancellable operating leases
2024 2023
£    £   
Within one year 20,844 26,673
Between one and five years 5,088 20,158
25,932 46,831

Taylor Technology Systems Limited (Registered number: 07740764)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
M W Taylor
Balance outstanding at start of year 199,190 94,665
Amounts advanced 84,617 344,525
Amounts repaid (310,000 ) (240,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (26,193 ) 199,190

11. RELATED PARTY DISCLOSURES

During the year, the company paid rent of £75,000 (2023 : £75,000) to Taylor Technology Systems Ltd SSAS, the company's occupational pension scheme.


Included in other debtors is an amount of £15,472 (2023 : £1,000) owed by Taylor Technology Systems Ltd SSAS, the company's occupational pension scheme in respect of expenses paid on their behalf.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Taylor.