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REGISTERED NUMBER: 01395216 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 October 2024

for

D G Taylor Commercial Vehicles Ltd

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


D G Taylor Commercial Vehicles Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: D G Taylor
Y K Taylor



SECRETARY: Y K Taylor



REGISTERED OFFICE: Hutton Cranswick Industrial Estate
Driffield
East Yorkshire
YO25 9PG



REGISTERED NUMBER: 01395216 (England and Wales)



SENIOR STATUTORY AUDITOR: Richard D Lacey



AUDITORS: Harris Lacey and Swain
Chartered Accountants
Statutory Auditors
Suite 1, The Riverside Building
Livingstone Road
Hessle,
Hull
HU13 0DZ

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Strategic Report
for the Year Ended 31 October 2024


The directors present their strategic report for the year ended 31 October 2024.

REVIEW OF BUSINESS
The company seeks to exploit market conditions to the best of its ability. This is focused on two key metrics, turnover and pre tax profits. The profit metric overrides the turnover figure where market conditions do not allow for increases in sales volume.

The company has a small number of employees and seeks to provide a competitive salary and good working conditions that comply with legislation. The company is mindful of doing business in an ethical way and seeks to apply the highest standards to all employees' actions. The direct impact of the business on the environment is limited to travel and energy usage which are kept to a minimum and not material to the financial statements. The company has invested in electric vehicles where appropriate.

The company's business model is to buy high quality vehicles for resale of hire. This involves carefully researched knowledge of the used and new commercial vehicle market as well as being a trusted purchaser and vendor. This trust having been built up over many years.

The company regards its ethical trading policy and strong respect from all in the commercial market as being a key driver in its effective trading.

2024 2023 2022
Turnover £15,443,918 £21,936,054 £19,669,657
Turnover Growth -29.60% 11.52% 12.12%
Gross Profit £4,401,525 £4,704,845 £4,482,362
Gross Profit Margin 28.50% 21.45% 22.79%
Net Profit £3,462,342 £3,567,159 £2,435,328
Net Profit Margin 22.42% 16.26% 12.38%


D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Strategic Report
for the Year Ended 31 October 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The company's principle financial instruments comprise of bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company operations.

Price Risk
The company buys and sells commercial vehicles along with the facility of hire through its owned fleet of commercial vehicles. The price of commercial vehicles are based/reduced on the account of pricing pressure and market competition, This risk is managed by monitoring the market continuously and the company has highly experienced staff who hold extensive knowledge of the commercial vehicle market.

Credit risk (trade receivables)
The company's credit risk is primarily attributable to trade receivables. It is company policy that all customers exchange funds for vehicles prior to transfer of ownership, this mitigates this risk and therefore reduced the impact to the company.

Liquidity risk
The company's liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due and does not consider that liquidity poses a significant risk.

Interest rate and cash flow risk
The company has had a favorable cash balance during the financial year and therefore does not consider that the impact of interest rates or cash flows pose a significant risk.

FUTURE TRADING and DEVELOPMENTS
The long term future of fossil fuels represents a threat to the business whose sales a predominantly powered in this way. The company is monitoring the fuel choices for the future whether they are electric or hydrogen and will adapt its model accordingly. The current commercial vehicle market is driven by changes in emission legislation and improvements in efficiency and as such the company believes it is well placed to respond to future changes.

MATTERS OF STRATEGIC IMPORTANCE
As for many companies of our size, the business environment in which we operate continues to be challenging given the current global and UK economic slowdown. The company approaches the new financial year with optimism of economic growth but still bears in mind the risks and uncertainties of an unstable economy. Whilst future development of the business may be subject to unforeseen future events outside of our control, we strive to continue to grow and build value to strengthen the company's position. We will continue to show flexibility and respond to market conditions and opportunities as they arise.

ON BEHALF OF THE BOARD:





D G Taylor - Director


21 May 2025

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Report of the Directors
for the Year Ended 31 October 2024


The directors present their report with the financial statements of the company for the year ended 31 October 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of the purchase, resale and hiring of commercial vehicles.

DIVIDENDS
An interim dividend of £10,000 per share was paid on 24 April 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 October 2024 will be £ 1,000,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

D G Taylor
Y K Taylor

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Report of the Directors
for the Year Ended 31 October 2024


AUDITORS
The auditors, Harris Lacey and Swain, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D G Taylor - Director


21 May 2025

Report of the Independent Auditors to the Members of
D G Taylor Commercial Vehicles Ltd


Opinion
We have audited the financial statements of D G Taylor Commercial Vehicles Ltd (the 'company') for the year ended 31 October 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
D G Taylor Commercial Vehicles Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
D G Taylor Commercial Vehicles Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

Audit response to risks identified
- the nature of the industry and sector, control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets
- results of our enquiries of management and their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the companies' documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of
noncompliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged
fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- the matters discussed among the audit engagement team including regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
D G Taylor Commercial Vehicles Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard D Lacey (Senior Statutory Auditor)
for and on behalf of Harris Lacey and Swain
Chartered Accountants
Statutory Auditors
Suite 1, The Riverside Building
Livingstone Road
Hessle,
Hull
HU13 0DZ

21 May 2025

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Income Statement
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

TURNOVER 3 15,443,918 21,936,054

Cost of sales (11,042,393 ) (17,231,209 )
GROSS PROFIT 4,401,525 4,704,845

Administrative expenses (1,634,457 ) (1,639,198 )
OPERATING PROFIT 5 2,767,068 3,065,647

Interest receivable and similar income 695,274 501,512
PROFIT BEFORE TAXATION 3,462,342 3,567,159

Tax on profit 6 (869,585 ) (828,195 )
PROFIT FOR THE FINANCIAL YEAR 2,592,757 2,738,964

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Other Comprehensive Income
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 2,592,757 2,738,964


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,592,757

2,738,964

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 9,785,824 9,477,646

CURRENT ASSETS
Stocks 9 2,006,373 2,935,890
Debtors 10 520,235 1,139,766
Cash at bank 16,817,316 15,229,870
19,343,924 19,305,526
CREDITORS
Amounts falling due within one year 11 1,795,692 3,228,611
NET CURRENT ASSETS 17,548,232 16,076,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,334,056

25,554,561

PROVISIONS FOR LIABILITIES 12 1,191,853 1,005,115
NET ASSETS 26,142,203 24,549,446

CAPITAL AND RESERVES
Called up share capital 13 100 100
Revaluation reserve 14 315,019 315,019
Retained earnings 14 25,827,084 24,234,327
SHAREHOLDERS' FUNDS 26,142,203 24,549,446

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:





D G Taylor - Director


D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 November 2022 100 21,495,363 315,019 21,810,482

Changes in equity
Total comprehensive income - 2,738,964 - 2,738,964
Balance at 31 October 2023 100 24,234,327 315,019 24,549,446

Changes in equity
Dividends - (1,000,000 ) - (1,000,000 )
Total comprehensive income - 2,592,757 - 2,592,757
Balance at 31 October 2024 100 25,827,084 315,019 26,142,203

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Cash Flow Statement
for the Year Ended 31 October 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,424,221 2,340,688
Tax paid (744,311 ) (552,776 )
Net cash from operating activities 2,679,910 1,787,912

Cash flows from investing activities
Purchase of tangible fixed assets (5,125,403 ) (6,606,588 )
Sale of tangible fixed assets 3,508,600 3,271,250
Interest received 695,274 501,512
Net cash from investing activities (921,529 ) (2,833,826 )

Cash flows from financing activities
Amount introduced by directors 1,000,222 -
Amount withdrawn by directors (171,157 ) (77,906 )
Equity dividends paid (1,000,000 ) -
Net cash from financing activities (170,935 ) (77,906 )

Increase/(decrease) in cash and cash equivalents 1,587,446 (1,123,820 )
Cash and cash equivalents at beginning of
year

2

15,229,870

16,353,690

Cash and cash equivalents at end of year 2 16,817,316 15,229,870

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 3,462,342 3,567,159
Depreciation charges 2,828,037 2,746,456
Profit on disposal of fixed assets (1,519,412 ) (1,456,019 )
Finance income (695,274 ) (501,512 )
4,075,693 4,356,084
Decrease/(increase) in stocks 929,517 (1,613,590 )
Decrease/(increase) in trade and other debtors 619,531 (405,882 )
(Decrease)/increase in trade and other creditors (2,200,520 ) 4,076
Cash generated from operations 3,424,221 2,340,688

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2024
31.10.24 1.11.23
£    £   
Cash and cash equivalents 16,817,316 15,229,870
Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 15,229,870 16,353,690


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.23 Cash flow At 31.10.24
£    £    £   
Net cash
Cash at bank 15,229,870 1,587,446 16,817,316
15,229,870 1,587,446 16,817,316
Total 15,229,870 1,587,446 16,817,316

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

D G Taylor Commercial Vehicles 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Estimation uncertainty on useful lives of depreciable assets
The carrying value of depreciable assets, £9,785,823 (See Note 8) requires the directors to make an estimate of the assets' useful economic lives and undertake an annual review for impairment. The estimated lives applied are detailed in the accounting policy note.

Turnover
Turnover represents net invoiced sale, hire and repair of commercial vehicles.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Hire Vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial Instruments which meet the criteria of a basic financial instrument as defined in Section 11 of FRS102 are accounted for under the amortised historic cost model.

Non-basic financial instruments are recognised at fair value using a valuation technique with any gains or losses reported in surplus or deficit. At each year end, the instruments are revalued to fair value, with the movements posted to the income and expenditure account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

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.

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.

The company operated a defined contribution pension scheme. This ceased during the year. Contributions payable for the year are charged in the profit and loss account.

Sales under operating leases
Assets held by the company for leasing under operating leases are capitalised as tangible fixed assets. Rentals receivable in the year under operating leases are included in turnover, recognised over the period of the rental agreement.

Impairment of assets
At each reporting date non-financial assets, such as tangible fixed assets, are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to the carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised in the profit and loss account.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Income from operating leases 3,928,645 3,807,046
Other income 11,515,273 18,129,008
15,443,918 21,936,054

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 816,590 724,413
Social security costs 101,094 82,014
Other pension costs 8,840 8,313
926,524 814,740

The average number of employees during the year was as follows:
2024 2023

Office 3 3
Servicing 5 5
Sales and management 4 4
12 12

2024 2023
£    £   
Directors' remuneration 108,500 116,738

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 2,392,310 2,746,456
Profit on disposal of fixed assets (1,519,412 ) (1,456,019 )
Auditors' remuneration 6,000 4,500
Auditors - other services 20,000 20,000

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 679,596 613,200

Deferred tax 189,989 214,995
Tax on profit 869,585 828,195

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


7. DIVIDENDS
2024 2023
£    £   
Ordinary Shares shares of £1 each
Interim 1,000,000 -

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Hire
property fittings vehicles Vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 November 2023 800,000 126,186 223,520 13,705,900 14,855,606
Additions - 833 51,336 5,073,234 5,125,403
Disposals - - (77,945 ) (5,404,698 ) (5,482,643 )
At 31 October 2024 800,000 127,019 196,911 13,374,436 14,498,366
DEPRECIATION
At 1 November 2023 247,048 104,590 136,883 4,889,439 5,377,960
Charge for year 16,000 3,364 28,252 2,344,694 2,392,310
Eliminated on disposal - - (51,531 ) (3,006,197 ) (3,057,728 )
At 31 October 2024 263,048 107,954 113,604 4,227,936 4,712,542
NET BOOK VALUE
At 31 October 2024 536,952 19,065 83,307 9,146,500 9,785,824
At 31 October 2023 552,952 21,596 86,637 8,816,461 9,477,646

Cost or valuation at 31 October 2024 is represented by:

Fixtures
Freehold and Motor Hire
property fittings vehicles Vehicles Totals
£    £    £    £    £   
Valuation in 1990 115,315 - - - 115,315
Valuation in 2010 199,704 - - - 199,704
Cost 484,981 127,019 196,911 13,374,436 14,183,347
800,000 127,019 196,911 13,374,436 14,498,366

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. TANGIBLE FIXED ASSETS - continued

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

2024 2023
£    £   
Cost 430,672 430,672
Aggregate depreciation 65,378 73,550

Value of land in freehold land and buildings 294,468 294,468

The freehold property was valued on an open market basis on 31 October 2020 by the Directors .

9. STOCKS
2024 2023
£    £   
Stock of Vehicles 1,993,873 2,923,390
Stock of Spares 12,500 12,500
2,006,373 2,935,890

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 434,075 890,524
Other debtors - 171,919
Prepayments and accrued income 86,160 77,323
520,235 1,139,766

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 156,813 2,335,308
Tax 185,274 246,738
Social security and other taxes 122,010 1,454
Other creditors 231,836 304,700
Directors' current accounts 1,089,200 260,135
Accrued expenses 10,559 80,276
1,795,692 3,228,611

D G Taylor Commercial Vehicles Ltd (Registered number: 01395216)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,191,853 1,005,115

Deferred
tax
£   
Balance at 1 November 2023 1,005,115
Provided during year 186,738
Balance at 31 October 2024 1,191,853

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100

14. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 November 2023 24,234,327 315,019 24,549,346
Profit for the year 2,592,757 2,592,757
Dividends (1,000,000 ) (1,000,000 )
At 31 October 2024 25,827,084 315,019 26,142,103

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D G Taylor.