2024-04-012025-03-312025-03-31falseNI066434PAULINE TAYLOR 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PAULINE TAYLOR LIMITED

Registered Number
NI066434
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2025

PAULINE TAYLOR LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

P TAYLOR

Company Secretary

J E TAYLOR

Registered Address

Suite 2.06, Custom House Custom House Square
Belfast
BT1 3ET

Registered Number

NI066434 (Northern Ireland)
PAULINE TAYLOR LIMITED
Balance Sheet as at
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets476,273106,926
76,273106,926
Current assets
Stocks54,6316,748
Debtors48,90167,014
Cash at bank and on hand16,36635,757
69,898109,519
Creditors amounts falling due within one year6(130,284)(131,374)
Net current assets (liabilities)(60,386)(21,855)
Total assets less current liabilities15,88785,071
Creditors amounts falling due after one year7(13,314)(40,151)
Net assets2,57344,920
Capital and reserves
Called up share capital1,0001,000
Profit and loss account1,57343,920
Shareholders' funds2,57344,920
The financial statements were approved and authorised for issue by the Director on 17 June 2025, and are signed on its behalf by:
P TAYLOR
Director
Registered Company No. NI066434
PAULINE TAYLOR LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20252024
Average number of employees during the year1314
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 24284,000284,000
At 31 March 25284,000284,000
Amortisation and impairment
At 01 April 24284,000284,000
At 31 March 25284,000284,000
Net book value
At 31 March 25--
At 31 March 24--
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 April 24344,442344,442
At 31 March 25344,442344,442
Depreciation and impairment
At 01 April 24237,516237,516
Charge for year30,65330,653
At 31 March 25268,169268,169
Net book value
At 31 March 2576,27376,273
At 31 March 24106,926106,926
5.Stocks

2025

2024

££
Finished goods4,6316,748
Total4,6316,748
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables11,077-
Bank borrowings and overdrafts7,5998,157
Amounts owed to related parties51,31674,176
Taxation and social security23,34111,174
Finance lease and HP contracts31,15431,929
Other creditors798939
Accrued liabilities and deferred income4,9994,999
Total130,284131,374
7.Creditors: amounts due after one year

2025

2024

££
Other creditors13,31440,151
Total13,31440,151
8.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts13,31440,151
9.Pension commitments
The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,331 (2024: £4,347). At the balance sheet date, unpaid contributions of £701 (2024:£718) were due to the fund. They are included in other creditors.
10.Operating lease commitments
At 31 March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £126,000 (2024: £144,000).
11.Related party transactions
During the year dividends totaling £25,600 (2024: £37,715) were paid to Pauline Taylor, the director. At the balance sheet date Pauline Taylor owed the Company £38,331 (2024: £49,375). This was repaid after the year end and interest of 2.25% (2024: 2.25%) was charged on the outstanding balance. At the balance sheet date the Company owed J.E. Taylor (N.I.) Limited, a shareholder £51,316 (2024: £74,176).
12.Controlling party
The ultimate controlling party is Pauline Taylor by virtue of the majority shareholding.