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Registered number: 00463430










TAYLORS FOUNDRY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
TAYLORS FOUNDRY LIMITED
 
 
COMPANY INFORMATION


Directors
G P Taylor 
J M Taylor 




Company secretary
J M Taylor



Registered number
00463430



Registered office
Taylors Foundry
6 Hollands Road

Haverhill

Suffolk

CB9 8PP




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
TAYLORS FOUNDRY LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 11


 
TAYLORS FOUNDRY LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TAYLORS FOUNDRY LIMITED
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 Limited for the year ended 30 November 2024 which comprise  the Balance sheet 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 Limited, 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 Limited and state those matters that we have agreed to state to the Board of directors of Taylors Foundry Limited, 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 Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Taylors Foundry Limited 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 loss of Taylors Foundry Limited. You consider that Taylors Foundry Limited 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 Limited. 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 LIMITED
REGISTERED NUMBER: 00463430

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
                                                                    Note
£
£

Fixed assets
  

Tangible assets
 4 
609,654
595,929

Investments
 5 
100
100

  
609,754
596,029

Current assets
  

Stocks
  
71,500
72,150

Debtors: amounts falling due within one year
 6 
151,669
295,439

Cash at bank and in hand
  
50
50

  
223,219
367,639

Creditors: amounts falling due within one year
 7 
(244,705)
(295,964)

Net current (liabilities)/assets
  
 
 
(21,486)
 
 
71,675

Total assets less current liabilities
  
588,268
667,704

Creditors: amounts falling due after more than one year
 8 
(77,017)
(58,764)

Provisions for liabilities
  

Deferred tax
  
-
(8,468)

Net assets
  
511,251
600,472


Capital and reserves
  

Called up share capital 
 9 
5,000
5,000

Revaluation reserve
 10 
368,362
368,362

Capital redemption reserve
 10 
1,400
1,400

Profit and loss account
 10 
136,489
225,710

  
511,251
600,472


Page 2

 
TAYLORS FOUNDRY LIMITED
REGISTERED NUMBER: 00463430
    
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 4 to 11 form part of these financial statements.

Page 3

 
TAYLORS FOUNDRY LIMITED
 
 
 
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 continues to be that of the operation of a non-ferrous foundry, and the production and manufacture of metal castings.

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

Turnover

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

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

Page 4

 
TAYLORS FOUNDRY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.9

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.

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:

Freehold property
-
not depreciated
Plant & machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
15%
reducing balance
Computer equipment
-
33%
reducing balance
Property improvements
-
2%
straight line

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.

Page 5

 
TAYLORS FOUNDRY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost.

 
2.12

Stocks

Stocks and work in progress are valued at cost.

 
2.13

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.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

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.

 
2.16

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.
Page 6

 
TAYLORS FOUNDRY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


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 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
Page 7

 
TAYLORS FOUNDRY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)

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 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.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 16).

Page 8

 
TAYLORS FOUNDRY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Property & improvements
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 December 2023
583,355
352,165
935,520


Additions
-
35,717
35,717


Disposals
-
(1,500)
(1,500)



At 30 November 2024

583,355
386,382
969,737



Depreciation


At 1 December 2023
32,710
306,881
339,591


Charge for the year on owned assets
5,065
15,872
20,937


Disposals
-
(445)
(445)



At 30 November 2024

37,775
322,308
360,083



Net book value



At 30 November 2024
545,580
64,074
609,654



At 30 November 2023
550,645
45,284
595,929


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2023
100



At 30 November 2024
100




Page 9

 
TAYLORS FOUNDRY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
137,563
282,383

Other debtors
1,350
329

Prepayments and accrued income
12,756
12,727

151,669
295,439



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
47,822
28,540

Bank loans
14,553
33,960

Trade creditors
95,915
117,395

Amounts owed to group undertakings
16,752
2,910

Corporation tax
-
1,350

Other taxation and social security
48,661
71,946

Obligations under finance lease and hire purchase contracts
6,203
-

Other creditors
7,219
32,521

Accruals and deferred income
7,580
7,342

244,705
295,964


Security has been given on the bank loans and overdraft by way of a charge over the Company property, and a fixed and floating charge over the undertaking and all property and assets present and future.
The Company took out in June 2020 a loan supported by the Bounce Back Loan Scheme. Interest on the loan is fixed for the duration of the term at 2.5%.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,834
19,644

Net obligations under hire purchase contracts
17,834
-

Other creditors
53,349
39,120

77,017
58,764


Page 10

 
TAYLORS FOUNDRY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4,930 A ordinary shares shares of £1.00 each
4,930
4,930
10 B ordinary shares shares of £1.00 each
10
10
50 C ordinary shares shares of £1.00 each
50
50
10 D ordinary shares shares of £1.00 each
10
10

5,000

5,000



10.


Reserves

Revaluation reserve

The revaluation reserve represents the cumulative value of revaluations of the Company's freehold properties to fair value.

Capital redemption reserve

The capital redemption reserve is a non-distributable reserve created on the redemption by the Company of ordinary shares in a previous financial period.

Profit & loss account

The profit and loss account includes all current and prior period retained profits and losses.


11.


Pension commitments

Pension contributions totalling £587 (2023: £587) were payable at the balance sheet date and are included in creditors.


12.


Related party transactions

As at 30 November 2024, the Company owed a director £53,349 (2023: £39,120)

 
Page 11