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REGISTERED NUMBER: SC414976















TAYBRAE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025






TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Balance Sheet 1

Notes to the Financial Statements 3


TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,999
Tangible assets 5 18,886 13,489
18,886 16,488

CURRENT ASSETS
Debtors 6 2,397 1,675
Cash at bank 16,948 20,485
19,345 22,160
CREDITORS
Amounts falling due within one year 7 42,134 62,665
NET CURRENT LIABILITIES (22,789 ) (40,505 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,903

)

(24,017

)

CREDITORS
Amounts falling due after more than one year 8 13,842 -
NET LIABILITIES (17,745 ) (24,017 )

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account (17,845 ) (24,117 )
SHAREHOLDERS' FUNDS (17,745 ) (24,017 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)

BALANCE SHEET - continued
31 JANUARY 2025


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





J R Walton - Director


TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

Taybrae Limited is a private company, limited by shares, registered in Scotland. The registered office is Caledonia House, 89 Seaward Street, Glasgow, G41 1HJ.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

Going concern
The financial statements have been prepared on a going concern basis. The validity of this is dependent on the continued support of the directors, who consider that it is appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover represents the sales invoice value of services rendered, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and has been amortised over its estimated useful life of five years. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently, as and when necessary, if circumstances emerge that indicate that the carrying value may not be recoverable.

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.

Franchise fees are being amortised evenly over their estimated useful life of five years.

TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life

Plant and machinery etc - 25% on reducing balance and 33% on straight line method.

Tangible fixed assets are included in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

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 accounts receivable and payable and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2024 22,000 15,450 37,450
Reclassification/transfer - (5,000 ) (5,000 )
At 31 January 2025 22,000 10,450 32,450
AMORTISATION
At 1 February 2024 22,000 12,451 34,451
Charge for year - 2,999 2,999
Charge written back - (5,000 ) (5,000 )
At 31 January 2025 22,000 10,450 32,450
NET BOOK VALUE
At 31 January 2025 - - -
At 31 January 2024 - 2,999 2,999

TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024 29,503
Additions 24,373
Disposals (26,093 )
At 31 January 2025 27,783
DEPRECIATION
At 1 February 2024 16,014
Charge for year 6,745
Eliminated on disposal (13,862 )
At 31 January 2025 8,897
NET BOOK VALUE
At 31 January 2025 18,886
At 31 January 2024 13,489

At the balance sheet date, the net book value of assets held under hire purchase agreements amounted to £17,437 (2024: £12,231).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 2,397 1,675

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts 3,811 12,884
Trade creditors 1,800 1,569
Taxation and social security 3,929 2,196
Other creditors 32,594 46,016
42,134 62,665

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Hire purchase contracts 13,842 -

TAYBRAE LIMITED (REGISTERED NUMBER: SC414976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts 17,653 12,884

The hire purchase agreement is secured against the assets to which the specific agreement relates.

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the balance due to a director was £29,562 (2024: £37,629). The balance is interest free, unsecured and carries no fixed repayment terms.