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REGISTERED NUMBER: 03099260 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 October 2024

for

R L TAYLOR LTD

R L TAYLOR LTD (REGISTERED NUMBER: 03099260)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R L TAYLOR LTD

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: RL Taylor





REGISTERED OFFICE: 3 Southernhay West
Exeter
Devon
EX1 1JG





REGISTERED NUMBER: 03099260 (England and Wales)





ACCOUNTANTS: Gravita Western Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

R L TAYLOR LTD (REGISTERED NUMBER: 03099260)

Balance Sheet
31 OCTOBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,972,752 3,898,818

CURRENT ASSETS
Stocks 25,000 110,000
Debtors 5 1,323,980 1,252,975
Cash at bank 182,561 61,723
1,531,541 1,424,698
CREDITORS
Amounts falling due within one year 6 (2,271,601 ) (2,172,313 )
NET CURRENT LIABILITIES (740,060 ) (747,615 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,232,692

3,151,203

CREDITORS
Amounts falling due after more than one
year

7

(2,239,121

)

(2,075,446

)
NET ASSETS 993,571 1,075,757

CAPITAL AND RESERVES
Called up share capital 26,000 26,000
Retained earnings 967,571 1,049,757
993,571 1,075,757

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 director acknowledges his 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.

R L TAYLOR LTD (REGISTERED NUMBER: 03099260)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 July 2025 and were signed by:





RL Taylor - Director


R L TAYLOR LTD (REGISTERED NUMBER: 03099260)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024


1. COMPANY INFORMATION

R L Taylor Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

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" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - at variable rates on reducing balance
Fixtures & fittings and computer equipment - 20% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.


R L TAYLOR LTD (REGISTERED NUMBER: 03099260)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 23 ) .

R L TAYLOR LTD (REGISTERED NUMBER: 03099260)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
& fittings
Improvements and
to Plant and computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 November 2023 75,992 7,432,153 105,042 7,613,187
Additions - 1,180,704 164 1,180,868
Disposals - (985,254 ) (86,474 ) (1,071,728 )
At 31 October 2024 75,992 7,627,603 18,732 7,722,327
DEPRECIATION
At 1 November 2023 45,594 3,568,696 100,079 3,714,369
Charge for year 7,599 695,545 739 703,883
Eliminated on disposal - (583,610 ) (85,067 ) (668,677 )
At 31 October 2024 53,193 3,680,631 15,751 3,749,575
NET BOOK VALUE
At 31 October 2024 22,799 3,946,972 2,981 3,972,752
At 31 October 2023 30,398 3,863,457 4,963 3,898,818

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors
and accrued income 1,253,519 1,249,566
Prepayments 70,461 3,409
1,323,980 1,252,975

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 63,000 -
Hire purchase contracts (see note 8) 834,308 914,068
Trade creditors 280,988 495,239
Social security and other taxes - 113,709
VAT 92,059 59,372
Other creditors 970,323 530,646
Pension - 13,690
Net wages - 14,539
Directors' loan accounts 24,423 25,000
Accruals and deferred income 6,500 6,050
2,271,601 2,172,313

R L TAYLOR LTD (REGISTERED NUMBER: 03099260)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 1,644,690 1,409,746
Directors' loan accounts 594,431 665,700
2,239,121 2,075,446

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 834,308 914,068
Between one and five years 1,644,690 1,409,746
2,478,998 2,323,814

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 2,478,998 2,323,814

There is a fixed and floating charge with Bibby Financial Services Ltd dated 21 May 2021 over all land of the company.

10. RELATED PARTY DISCLOSURES

The company is controlled by the director who owns 100% of the called up share capital.