Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30truefalse2023-12-01falseadvertising for business through a high profite reacing activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03288889 2023-12-01 2024-11-30 03288889 2022-12-01 2023-11-30 03288889 2024-11-30 03288889 2023-11-30 03288889 2022-12-01 03288889 c:CompanySecretary1 2023-12-01 2024-11-30 03288889 c:Director1 2023-12-01 2024-11-30 03288889 c:Director2 2023-12-01 2024-11-30 03288889 c:RegisteredOffice 2023-12-01 2024-11-30 03288889 d:Buildings 2023-12-01 2024-11-30 03288889 d:Buildings 2024-11-30 03288889 d:Buildings 2023-11-30 03288889 d:Buildings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03288889 d:PlantMachinery 2023-12-01 2024-11-30 03288889 d:PlantMachinery 2024-11-30 03288889 d:PlantMachinery 2023-11-30 03288889 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03288889 d:MotorVehicles 2023-12-01 2024-11-30 03288889 d:MotorVehicles 2024-11-30 03288889 d:MotorVehicles 2023-11-30 03288889 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03288889 d:FurnitureFittings 2023-12-01 2024-11-30 03288889 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 03288889 d:CurrentFinancialInstruments 2024-11-30 03288889 d:CurrentFinancialInstruments 2023-11-30 03288889 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 03288889 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 03288889 d:ShareCapital 2024-11-30 03288889 d:ShareCapital 2023-11-30 03288889 d:ShareCapital 2022-12-01 03288889 d:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 03288889 d:RetainedEarningsAccumulatedLosses 2024-11-30 03288889 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 03288889 d:RetainedEarningsAccumulatedLosses 2023-11-30 03288889 d:RetainedEarningsAccumulatedLosses 2022-12-01 03288889 c:OrdinaryShareClass1 2023-12-01 2024-11-30 03288889 c:OrdinaryShareClass1 2024-11-30 03288889 c:FRS102 2023-12-01 2024-11-30 03288889 c:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 03288889 c:FullAccounts 2023-12-01 2024-11-30 03288889 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 03288889 e:PoundSterling 2023-12-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03288889










TAYLORS FOUNDRY MOTOR SPORT LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
COMPANY INFORMATION


Directors
G P Taylor 
D Ketteridge 




Company secretary
J M Taylor



Registered number
03288889



Registered office
6 Hollands Road

Haverhill

Suffolk

CB9 8PP




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
TAYLORS FOUNDRY MOTOR SPORT LTD
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Statement of changes in equity
 
 
4
Notes to the financial statements
 
 
5 - 10

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TAYLORS FOUNDRY MOTOR SPORT LTD
FOR THE YEAR ENDED 30 NOVEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Taylors Foundry Motor Sport Ltd for the year ended 30 November 2024 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Taylors Foundry Motor Sport Ltd, as a body, in accordance with the terms of our engagement letter dated 17 March 2020Our work has been undertaken solely to prepare for your approval the financial statements of Taylors Foundry Motor Sport Ltd and state those matters that we have agreed to state to the Board of directors of Taylors Foundry Motor Sport Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Taylors Foundry Motor Sport Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Taylors Foundry Motor Sport Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Taylors Foundry Motor Sport Ltd. You consider that Taylors Foundry Motor Sport Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Taylors Foundry Motor Sport Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
 
27 August 2025
Page 1

 
TAYLORS FOUNDRY MOTOR SPORT LTD
REGISTERED NUMBER: 03288889

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
                                                                    Note
£
£

Fixed assets
  

Tangible assets
 4 
14,469
15,648

  
14,469
15,648

Current assets
  

Stocks
  
2,900
4,900

Debtors: amounts falling due within one year
 5 
41,263
37,107

  
44,163
42,007

Creditors: amounts falling due within one year
 6 
(13,785)
(24,312)

Net current assets
  
 
 
30,378
 
 
17,695

  

Net assets
  
44,847
33,343


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
44,747
33,243

  
44,847
33,343


Page 2

 
TAYLORS FOUNDRY MOTOR SPORT LTD
REGISTERED NUMBER: 03288889
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2025.






G P Taylor
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 December 2022
100
16,469
16,569


Comprehensive income for the year

Profit for the year
-
16,774
16,774



At 1 December 2023
100
33,243
33,343


Comprehensive income for the year

Profit for the year
-
11,504
11,504


At 30 November 2024
100
44,747
44,847


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The Company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The registered office address and principal place of business of the Company is Taylors Foundry, Hollands Road, Haverhill, Suffolk, CB9 8PP.
The Company's principal activity during the year was to provide advertising for business through a high profile racing activity.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

These accounts have been prepared on the going concern basis on the understanding that the directors and other group companies will continue to support the Company.

 
2.3

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the basis set out below.

Depreciation is provided on the following basis:

Leasehold property
-
not depreciated
Plant & machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks and work in progress are valued at cost.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision
Page 6

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the
Page 7

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 8

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Leasehold property
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 December 2023
9,591
37,641
19,060
66,292



At 30 November 2024

9,591
37,641
19,060
66,292



Depreciation


At 1 December 2023
-
34,282
16,363
50,645


Charge for the year on owned assets
-
504
674
1,178



At 30 November 2024

-
34,786
17,037
51,823



Net book value



At 30 November 2024
9,591
2,855
2,023
14,469



At 30 November 2023
9,591
3,359
2,698
15,648


5.


Debtors

2024
2023
£
£


Trade debtors
24,260
33,957

Amounts owed by group undertakings
16,752
2,910

Prepayments and accrued income
251
240

41,263
37,107


Page 9

 
TAYLORS FOUNDRY MOTOR SPORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdraft
2,739
10,580

Trade creditors
3,814
4,029

Other taxation and social security
1,370
4,523

Other creditors
2,357
1,830

Accruals and deferred income
3,505
3,350

13,785
24,312



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares shares of £1.00 each
100
100


 
Page 10