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Registration number: 05928070

Prepared for the registrar
Tayntons (LS) Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2024

Tayntons (LS) Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

Tayntons (LS) Limited

Company Information

Directors | A J Ollerenshaw C M Price S E Mitchem A Ollerenshaw K M E Price

Registered office | 5th Floor Llanthony Warehouse The Docks Gloucester GL1 2EH

Bankers | Barclays Bank Plc 18 Southgate Street Gloucester GL1 2DH

Accountants | Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Tayntons (LS) Limited

(Registration number: 05928070)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 6 | 178,667 | 157,323
Current assets |  |  |
Stocks |  | 41,529 | 73,528
Debtors | 7 | 2,013,807 | 2,168,976
Cash at bank and in hand |  | 115,596 | 135,715
|  | 2,170,932 | 2,378,219
Creditors: Amounts falling due within one year | 8 | (1,591,948) | (1,781,233)
Net current assets |  | 578,984 | 596,986
Total assets less current liabilities |  | 757,651 | 754,309
Creditors: Amounts falling due after more than one year | 8 | (103,848) | (131,963)
Provisions for liabilities | 9, 10 | (62,710) | (35,116)
Net assets |  | 591,093 | 587,230
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Capital redemption reserve |  | 1 | 1
Retained earnings |  | 591,091 | 587,228
Shareholders' funds |  | 591,093 | 587,230

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2025 and signed on its behalf by:

A J Ollerenshaw
Director

Tayntons (LS) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor Llanthony Warehouse
The Docks
Gloucester
GL1 2EH

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of 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.

Key sources of estimation uncertainty

Amounts recoverable on contracts - The process of assessing amounts recoverable on contracts requires various estimates and judgements to be made. Fee earners are required to record time spent on client assignments and this is used as the basis for the amounts recoverable on contracts and work in progress estimates. A year end report of time on all assignments is circulated to fee earners to identify likely recoverable amounts. The carrying amount is £692,284 (2023 - £690,099).

Bad debt provision - due to the nature of the business, there are high levels of trade receivables at the year end, and therefore a risk that some of these balances may be irrecoverable. A bad debt review is carried out, where debts are assessed and provided against when the recoverability of these balances is considered to be uncertain. The carrying amount is £22,500 (2023 - £Nil).

Client claims - this is based on a review of potential claims and an assessment of any potential settlements that are considered likely as a result of these. The carrying amount is £20,000 (2023 - £Nil).

Tayntons (LS) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Fee income represents the fair value of services provided during the year on client assignments. Fair value reflects the amounts expected to be recoverable from clients based on time spent, skills provided and expenses incurred, and excludes VAT. Income is recognised as contract activity progresses and the right to consideration is secured, except where the final outcome cannot be assessed with reasonable certainty.
Income in respect of contingent fee assignments is recognised in the period when the contingent event occurs and collectability of the fee is assured.
Unbilled income on individual client assignments is included as amounts recoverable on contracts within debtors.

Tax

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

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

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 20% of cost per annum

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 15 - 25% of cost p.a., 20% of written down value p.a.
Motor vehicles | straight line over five years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Tayntons (LS) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Work in progress

Work in progress is valued at the lower of cost and net realisable value. Cost is represented by labour and other direct costs incurred in bringing each matter to its present state of completion. Net realisable value is the estimate fee charge less further costs expected to be incurred to completion.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade debtors

Trade debtors are amounts due from clients for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Disbursements

Disbursements are not included in income and expenses, but are netted against each other.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Tayntons (LS) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Tayntons (LS) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 54 (2023 - 57).

| 4 | Profit before tax

Arrived at after charging/(crediting)

| 2024 £ | 2023 £
Depreciation expense | 32,957 | 8,284

| 5 | Intangible assets

| Goodwill £
Cost and amortisation
At 1 January 2024 and 31 December 2024 | 40,000
Carrying amount
At 1 January 2024 and 31 December 2024 | -

| 6 | Tangible assets

| Office equipment £ | Motor vehicles £ | Total £
Cost
At 1 January 2024 | 266,833 | 61,533 | 328,366
Additions | 19,067 | 62,780 | 81,847
Disposals | (146,789) | - | (146,789)
At 31 December 2024 | 139,111 | 124,313 | 263,424
Depreciation
At 1 January 2024 | 168,982 | 2,061 | 171,043
Charge for the year | 25,459 | 23,817 | 49,276
Eliminated on disposal | (135,562) | - | (135,562)
At 31 December 2024 | 58,879 | 25,878 | 84,757
Carrying amount
At 31 December 2024 | 80,232 | 98,435 | 178,667
At 31 December 2023 | 97,851 | 59,472 | 157,323

| 7 | Debtors

| 2024 £ | 2023 £
Trade debtors | 1,076,929 | 1,173,417
Amounts recoverable on long term contracts | 692,284 | 690,099
Prepayments and accrued income | 244,594 | 305,123
Other debtors | - | 337
| 2,013,807 | 2,168,976

Tayntons (LS) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

| 8 | Creditors

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 11 | 433,710 | 545,352
Trade creditors |  | 730,040 | 751,817
Taxation and social security |  | 113,723 | 220,632
Accruals and deferred income |  | 193,331 | 175,085
Other creditors |  | 16,816 | 14,784
Corporation tax liability |  | 104,328 | 73,563
|  | 1,591,948 | 1,781,233

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 66,667 | 87,500
Bank overdrafts | 234,386 | 298,994
Other borrowings | 132,657 | 158,858
| 433,710 | 545,352

On 3 October 2017 security was given by the company on the bank overdraft. The nature of the security is a fixed and floating charge over all the property and undertaking of the company.

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 11 | 103,848 | 131,963

| 9 | Provisions

| Client claims provision £
Additional provisions | 20,000
At 31 December 2024 | 20,000

| 10 | Deferred tax

Deferred tax assets and liabilities

2024 | Liability £
Difference between accumulated depreciation and amortisation and capital allowances | 42,710
| 42,710

2023 | Liability £
Difference between accumulated depreciation and amortisation and capital allowances | 35,116
| 35,116

Tayntons (LS) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

| 11 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 66,667 | 87,500
Bank overdrafts | 234,386 | 298,994
Other borrowings | 132,657 | 158,858
| 433,710 | 545,352

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 15,625 | 82,292
Other borrowings | 88,223 | 49,671
| 103,848 | 131,963

| 12 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary 'A' shares of £0.01 each | - | - | - | -
Ordinary 'B' shares of £0.01 each | 6 | 0.06 | 12 | 0.12
Ordinary 'C' shares of £0.01 each | 69 | 0.69 | 69 | 0.69
Ordinary 'D' shares of £0.01 each | 44 | 0.44 | 44 | 0.44
Ordinary 'E' shares of £0.01 each | - | - | 6 | 0.06
Ordinary 'F' shares of £0.01 each | 6 | 0.06 | - | -
| 125 | 1 | 131 | 1

In March 2024, there was a designation of share class. 6 Ordinary 'B' shares were designated as Ordinary 'F' shares, all of nominal value £0.01.
In September 2024, Tayntons (LS) Limited did a purchase of own shares for 6 Ordinary 'E' shares, these were purchased at par and subsequently cancelled.

| 13 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £261,568 (2023 - £326,690).