Company No:
Contents
| Note | 31.10.2024 | |
| £ | ||
| Fixed assets | ||
| Investment property | 3 |
|
| 286,221 | ||
| Current assets | ||
| Cash at bank and in hand |
|
|
| 1,735 | ||
| Creditors: amounts falling due within one year | 4 | (
|
| Net current liabilities | (151,068) | |
| Total assets less current liabilities | 135,153 | |
| Creditors: amounts falling due after more than one year | 5 | (
|
| Accruals and deferred income | (
|
|
| Net liabilities | (
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| Capital and reserves | ||
| Called-up share capital | 6 |
|
| Profit and loss account | (
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| Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Taylor Isgar Ltd (registered number:
|
Miss L S Isgar
Director |
Mr C E Taylor
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Taylor Isgar Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Chilbury Gardens, Owermoigne, Dorchester, DT2 8HR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £17,342. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company recognises revenue when;
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
The fair value is determined annually by the directors, on an open market value for existing use basis.
| Period from 30.10.2023 to 31.10.2024 |
|
| Number | |
| Monthly average number of persons employed by the Company during the period, including directors |
|
The company is run and administered by the directors for whom no formal contracts of service are in place.
| Investment property | |
| £ | |
| Valuation | |
| As at 30 October 2023 |
|
| Additions | 286,221 |
| As at 31 October 2024 |
|
Valuation
The investment properties class of fixed assets were adjusted on 31 October 2024 to fair value by the directors who are internal to the company. The basis of this valuation was open market value.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 31.10.2024 | |
| £ | |
| Historic cost | 286,221 |
| 31.10.2024 | |
| £ | |
| Other creditors |
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| 31.10.2024 | |
| £ | |
| Bank loans |
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| 31.10.2024 | |
| £ | |
| Allotted, called-up and fully-paid | |
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