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REGISTERED NUMBER: 11055298 (England and Wales)

















G&L TAYLOR PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






G&L TAYLOR PROPERTIES LIMITED (REGISTERED NUMBER: 11055298)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


G&L TAYLOR PROPERTIES LIMITED (REGISTERED NUMBER: 11055298)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 600,000 600,000

CURRENT ASSETS
Debtors 5 2,647 3,041
Cash at bank 13,139 2,675
15,786 5,716
CREDITORS
Amounts falling due within one year 6 85,691 72,404
NET CURRENT LIABILITIES (69,905 ) (66,688 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

530,095

533,312

CREDITORS
Amounts falling due after more than one
year

7

(209,918

)

(240,451

)

PROVISIONS FOR LIABILITIES (57,225 ) (43,491 )
NET ASSETS 262,952 249,370

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 171,675 185,409
Retained earnings 91,177 63,861
SHAREHOLDERS' FUNDS 262,952 249,370

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

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

G&L TAYLOR PROPERTIES LIMITED (REGISTERED NUMBER: 11055298)

BALANCE SHEET - continued
31 OCTOBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





G R Taylor - Director


G&L TAYLOR PROPERTIES LIMITED (REGISTERED NUMBER: 11055298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

G&L Taylor Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11055298

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
The company lets its investment property and turnover represents the rent received or receivable in the year; it excludes discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments 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 the Profit and Loss Account.

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.


G&L TAYLOR PROPERTIES LIMITED (REGISTERED NUMBER: 11055298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 600,000
NET BOOK VALUE
At 31 October 2024 600,000
At 31 October 2023 600,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2020 53,900
Valuation in 2021 25,000
Valuation in 2022 150,000
Cost 371,100
600,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 371,100 371,100

Investment property was valued on an open market basis on 31 October 2024 by the directors .

G&L TAYLOR PROPERTIES LIMITED (REGISTERED NUMBER: 11055298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,647 3,041

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 29,295 21,722
Taxation and social security 9,388 5,257
Other creditors 47,008 45,425
85,691 72,404

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 209,918 240,451

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 29,295 21,722

Amounts falling due between two and five years:
Bank loans 209,918 240,451

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 239,213 262,173

The bank loan is secured against the company investment property.

G&L TAYLOR PROPERTIES LIMITED (REGISTERED NUMBER: 11055298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

10. RESERVES
Fair
value
reserve
£   
At 1 November 2023 185,409
Deferred tax adjustment on revaluation (13,734 )

At 31 October 2024 171,675

11. RELATED PARTY DISCLOSURES

OKE (Catering Equipment & Ventilation Systems) Limited
A company in which G Taylor and L Taylor are both shareholders.

Sales amounting to £Nil (2023: £32,933) were invoiced to OKE (Catering Equipment & Ventilation Systems) Limited during the year.

Amount due from the related party at the balance sheet date £2,647 (2023: £3,041).

No interest is payable on the loan and there are no agreed repayment terms.

GLH Managements Limited
A company in which G Taylor and L Taylor are both shareholders.

Amount due to the related party at the balance sheet date £37,176 (2023: £37,176).

No interest is payable on the loan and there are no agreed repayment terms.