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COMPANY REGISTRATION NUMBER: 08328583
GARY TAYLOR BUILDERS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2025
GARY TAYLOR BUILDERS LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2025
2025
2024
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
6,891
9,189
CURRENT ASSETS
Debtors
6
22,020
22,568
Cash at bank and in hand
156,798
123,074
---------
---------
178,818
145,642
CREDITORS: amounts falling due within one year
7
23,767
8,864
---------
---------
NET CURRENT ASSETS
155,051
136,778
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
161,942
145,967
PROVISIONS
1,724
2,298
---------
---------
NET ASSETS
160,218
143,669
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
160,118
143,569
---------
---------
SHAREHOLDERS FUNDS
160,218
143,669
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GARY TAYLOR BUILDERS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 25 July 2025 , and are signed on behalf of the board by:
Mr G D Taylor
Director
Company registration number: 08328583
GARY TAYLOR BUILDERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86 St Johns Road, Kettering, Northamptonshire, NN15 5AZ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
33.33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 March 2024 and 28 February 2025
32,186
791
32,977
--------
----
--------
Depreciation
At 1 March 2024
22,997
791
23,788
Charge for the year
2,298
2,298
--------
----
--------
At 28 February 2025
25,295
791
26,086
--------
----
--------
Carrying amount
At 28 February 2025
6,891
6,891
--------
----
--------
At 29 February 2024
9,189
9,189
--------
----
--------
6. DEBTORS
2025
2024
£
£
Trade debtors
20,279
21,113
Other debtors
1,741
1,455
--------
--------
22,020
22,568
--------
--------
7. CREDITORS: amounts falling due within one year
2025
2024
£
£
Social security and other taxes
18,595
5,895
Other creditors
5,172
2,969
--------
-------
23,767
8,864
--------
-------