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REGISTERED NUMBER: 10457968 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Taylors (Torbay) Limited

Taylors (Torbay) Limited (Registered number: 10457968)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 3 |

Taylors (Torbay) Limited (Registered number: 10457968)

Balance Sheet

31 December 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 110,067 |  | 65,258 |  |

Investments | 6 | 100 |  | 100 |  |

110,167 |  | 65,358 |  |

CURRENT ASSETS

Debtors | 7 | 29,143 |  | 35,675 |  |

Cash at bank and in hand | 139,039 |  | 204,593 |  |

168,182 |  | 240,268 |  |

CREDITORS

Amounts falling due within one year | 8 | 111,672 |  | 148,619 |  |

NET CURRENT ASSETS | 56,510 |  | 91,649 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 166,677 |  | 157,007 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (84,011 | ) | (72,050 | ) |

PROVISIONS FOR LIABILITIES | (20,265 | ) | (8,315 | ) |

NET ASSETS | 62,401 |  | 76,642 |  |

CAPITAL AND RESERVES

Called up share capital | 200 |  | 200 |  |

Retained earnings | 62,201 |  | 76,442 |  |

SHAREHOLDERS' FUNDS | 62,401 |  | 76,642 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps 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 Sections 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.

Taylors (Torbay) Limited (Registered number: 10457968)

Balance Sheet - continued

31 December 2024

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

Mrs R L Norton - Director

Taylors (Torbay) Limited (Registered number: 10457968)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Taylors (Torbay) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 10457968

| Registered office: | First Floor Cef Building

| Broomhill Way

| Torquay

| Devon

| TQ2 7QN

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

| Critical accounting judgements and key sources of estimation uncertainty

| In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery etc | - | 25% on reducing balance and 20% on reducing balance

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

Taylors (Torbay) Limited (Registered number: 10457968)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company holds the following financial instruments:

| - Short term trade and other debtors and creditors;

| - Bank loans; and

| - Cash and bank balances.

| All financial instruments are classified as basic.

| The company has chosen to apply the recognition and measurement principles in FRS102.

| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

| Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

| Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

| 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.

| 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.

Taylors (Torbay) Limited (Registered number: 10457968)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

| 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.

| Going concern

| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 21 (2023 - 21 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 33,000 |  |

| AMORTISATION

| At 1 January 2024

| and 31 December 2024 | 33,000 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  |

| At 31 December 2023 | - |  |

Taylors (Torbay) Limited (Registered number: 10457968)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2024 | 148,513 |  |

| Additions | 73,245 |  |

| At 31 December 2024 | 221,758 |  |

| DEPRECIATION

| At 1 January 2024 | 83,255 |  |

| Charge for year | 28,436 |  |

| At 31 December 2024 | 111,691 |  |

| NET BOOK VALUE

| At 31 December 2024 | 110,067 |  |

| At 31 December 2023 | 65,258 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2024 | 26,144 |  |

| Additions | 67,200 |  |

| At 31 December 2024 | 93,344 |  |

| DEPRECIATION

| At 1 January 2024 | 11,438 |  |

| Charge for year | 17,117 |  |

| At 31 December 2024 | 28,555 |  |

| NET BOOK VALUE

| At 31 December 2024 | 64,789 |  |

| At 31 December 2023 | 14,706 |  |

Taylors (Torbay) Limited (Registered number: 10457968)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 100 |  |

| NET BOOK VALUE

| At 31 December 2024 | 100 |  |

| At 31 December 2023 | 100 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 20,877 |  | 31,722 |  |

| Other debtors | 8,266 |  | 3,953 |  |

29,143 |  | 35,675 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans and overdrafts | 40,000 |  | 40,000 |  |

| Hire purchase contracts | 11,239 |  | 3,504 |  |

| Taxation and social security | 52,667 |  | 97,360 |  |

| Other creditors | 7,766 |  | 7,755 |  |

111,672 |  | 148,619 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans | 16,667 |  | 56,667 |  |

| Hire purchase contracts | 67,344 |  | 15,383 |  |

84,011 |  | 72,050 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 31.12.23

£ | £ |

| Hire purchase contracts | 78,583 |  | - |  |

Taylors (Torbay) Limited (Registered number: 10457968)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

| 31.12.24 |  | 31.12.23

£ | £ |

| J C Norton

| Balance outstanding at start of year | - |  | 16,500 |  |

| Amounts repaid | - |  | (16,500 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

| Mrs R L Norton

| Balance outstanding at start of year | - |  | 16,500 |  |

| Amounts repaid | - |  | (16,500 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

| Mrs D J Taylor

| Balance outstanding at start of year | - |  | 25,000 |  |

| Amounts repaid | - |  | (25,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

| D L Nickells

| Balance outstanding at start of year | - |  | 12,000 |  |

| Amounts repaid | - |  | (12,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |