Registered number
03909870
Taytrans Limited
Filleted Accounts
for the year ended 31 March 2025
Taytrans Limited
Registered number: 03909870
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 1,240,891 1,251,411
Current assets
Debtors 4 364,645 328,023
Cash at bank and in hand 34 21,633
364,679 349,656
Creditors: amounts falling due within one year 5 (411,214) (315,346)
Net current (liabilities)/assets (46,535) 34,310
Total assets less current liabilities 1,194,356 1,285,721
Creditors: amounts falling due after more than one year 6 (255,555) (318,561)
Provisions for liabilities (54,953) (62,212)
Net assets 883,848 904,948
Capital and reserves
Called up share capital 12 12
Revaluation reserve 8 567,636 567,636
Profit and loss account 316,200 337,300
Shareholder's funds 883,848 904,948
The directors are 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 directors acknowledge their 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.
M J Taylor
Director
Approved by the board on 21 May 2025
Taytrans Limited
Notes to the Accounts
for the year ended 31 March 2025
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:
Freehold property 2% straight line
Plant and machinery 20% Reducing balance
Fixtures, fittings, tools and equipment 25% Reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 14 14
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 1,430,831 387,308 1,818,139
Additions 27,169 22,207 49,376
At 31 March 2025 1,458,000 409,515 1,867,515
Depreciation
At 1 April 2024 414,181 152,547 566,728
Charge for the year 10,299 49,597 59,896
At 31 March 2025 424,480 202,144 626,624
Net book value
At 31 March 2025 1,033,520 207,371 1,240,891
At 31 March 2024 1,016,650 234,761 1,251,411
4 Debtors 2025 2024
£ £
Trade debtors 209,283 188,521
Amounts owed by group undertakings and undertakings in which the company has a participating interest 86,500 87,500
Other debtors 68,862 52,002
364,645 328,023
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 79,578 26,041
Obligations under finance lease and hire purchase contracts 49,937 74,742
Trade creditors 164,100 160,488
Taxation and social security costs 71,893 34,516
Other creditors 45,706 19,559
411,214 315,346
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 58,968 87,037
Obligations under finance lease and hire purchase contracts 54,107 89,044
Other creditors 142,480 142,480
255,555 318,561
7 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 138,546 113,078
Obligations under finance lease and hire purchase contracts 104,044 163,786
242,590 276,864
The Royal Bank of Scotland has a fixed and floating charge over the property and other assets of the company. Hire purchase liabilities are secured upon the assets to which they relate.
8 Revaluation reserve 2025 2024
£ £
At 1 April 2024 567,636 567,636
At 31 March 2025 567,636 567,636
9 Pension commitments
The company operates a defined contribution pension scheme. Contributions totalling £2,870 (2024 : £2,813) were payable to the scheme at the end of the period and are included in creditors.
10 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 187,367 237,339
11 Related party transactions
Dividends of £160,000 (2024 : £140,700) were paid to Taytrans Holdings Limited during the year. Amounts of £159,000 (2024 : £159,500) were paid on behalf of Taytrans Holdings Limited by the company during the year. At the balance sheet date, the amount of £86,500 (2024 : £87,500) was owed by Taytrans Holdings Limited to the company.
12 Controlling party
The company is wholly owned and controlled by the parent company Taytrans Holdings Limited of registered address: Bent Ley Farm, Bent Ley Road, Meltham, Holmfirth, HD9 4AP
13 Other information
Taytrans Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bent Ley Farm
Bent Ley Road
Meltham
Holmfirth
HD9 4AP
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