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TaylorHood Metalworks Ltd
Registered Number:07423551
For the year ended 31 October 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 October 2024
TaylorHood Metalworks Ltd
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
3
Registered Number :
07423551
As at 31 October 2024
TaylorHood Metalworks Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
14,472
20,053
2
14,472
20,053
Current assets
Inventories
11,000
13,000
3
Trade and other receivables
107,372
133,987
4
42,013
Cash and cash equivalents
598
147,585
160,385
Trade and other payables: amounts falling due within one
year
(202,694)
(232,867)
5
(42,309)
(85,282)
Net current liabilities
Total assets less current liabilities
(70,810)
(22,256)
Trade and other payables: amounts falling due after more
than one year
(61,780)
(52,944)
6
(2,228)
(3,032)
Provisions for liabilities
(125,982)
Net liabilities
(87,068)
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
(126,982)
(88,068)
(125,982)
(87,068)
Shareholders' funds
For the year ended 31 October 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Christopher Taylor Director
These financial statements were approved and authorised for issue by the Board on 28 July 2025 and were signed by:
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4
Registered Number :
07423551
For the year ended 31 October 2024
TaylorHood Metalworks Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 October 2024
TaylorHood Metalworks Ltd
Notes to the Financial Statements
Statutory Information
TaylorHood Metalworks Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 07423551.
Registered address:
Unit 2, NEP Business Park
Stratford Road
Washington
Tyne & Wear
NE38 8QP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Straight line
33.3% Straight line
Computer equipment
20% Straight line
Motor vehicles
10% Straight line
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease. Assets financed under finance leases and hire purchase contracts are capitalised and depreciated over their useful economic lives. Future instalments, net of finance charges are included within creditors. The finance element of payments is charged to the profit and loss account.
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6
For the year ended 31 October 2024
TaylorHood Metalworks Ltd
Notes to the Financial Statements Continued
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
£
Cost or
valuation
At 01 November 2023
182,668
7,357
7,801
63,734
103,776
-
-
(1,350)
-
Disposals
(1,350)
At 31 October 2024
62,384
7,801
7,357
181,318
103,776
Provision for depreciation and impairment
At 01 November 2023
162,615
6,508
4,540
49,634
101,933
Charge for year
5,041
424
766
3,390
461
(810)
-
-
(810)
-
On disposal
At 31 October 2024
166,846
6,932
5,306
52,214
102,394
At 31 October 2024
Net book value
1,382
10,170
2,495
425
14,472
At 31 October 2023
1,843
14,100
3,261
849
20,053
3. Inventories
2023
2024
£
£
Stocks
13,000
11,000
4. Trade and other receivables
2023
2024
£
£
Trade debtors
71,036
52,132
Amounts owed by group undertakings and participating interests
36,010
36,010
Other debtors
26,941
19,230
107,372
133,987
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7
For the year ended 31 October 2024
TaylorHood Metalworks Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
28,056
22,244
Trade creditors
69,419
64,504
Taxation and social security
7,169
8,648
Debentures
5,833
5,833
Other creditors
122,390
101,465
232,867
202,694
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
38,620
30,918
Debentures
6,417
20,167
Other creditors
7,907
10,695
52,944
61,780
Analysis of creditors falling due after more than five years:
Payable by instalments
5,674
8,432
7. Related party transactions
The loan repayable from the parent company EWM (Northern) Holdings Ltd as at 31 October 2024 is £ 36,010 ( £
36,010 at year ended 31 October 2023)
The loan is repayable on demand, the rate of interest being charged is 0%.
8. Directors advances and guarantees
At 01/11/2023
Loaned
Repaid
At 31/10/2024
£
£
£
£
Christopher Taylor
Directors Loan
(11,363)
(1,529)
166
10,000
(11,363)
(1,529)
166
10,000
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8
For the year ended 31 October 2024
TaylorHood Metalworks Ltd
Notes to the Financial Statements Continued
9. Guarantees and other financial commitments
Lease commitments
At 31 October 2024 the company had annual commitments under non-cancellable operating leases as set out
below:
2023
£
2024
£
Operating leases which expire:
34,353
34,367
Within 1 year
-
73,389
Within 2 to 5 years
107,742
34,367
10. Average number of persons employed
During the year the average number of employees was 10 (2023 : 9)
11. Parent-subsidiary relationship
The company became a subsidary of EWM Holdings (Northern) Ltd on 18th May 2020. The registered office and principal place of business of the parent company is Unit 2 NEP Business Park, Stratford Road, Washington, Tyne and Wear. NE38 8QP.
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