REGISTERED NUMBER: 11676349 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Taylor Lane (Wales) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J B Lane

P S Harris

S J Griffiths

L Hale

R P Dodyk

A Finch

B Pannell

SECRETARY:

Ledge Services Limited

REGISTERED OFFICE:

Cala House

54 The Causeway

Staines-Upon-Thames

Surrey

TW18 3AX

REGISTERED NUMBER:

11676349 (England and Wales)

SENIOR STATUTORY AUDITOR:

A A Houston

AUDITORS:

R J Francis & Co Limited

Marshall Business Centre

Faraday Road

Hereford

Herefordshire

HR4 9NS

FIXED ASSETS

Tangible assets

4

201,008

235,393

CURRENT ASSETS

Debtors

5

25,859

16,759

Cash at bank

58,882

39,391

84,741

56,150

CREDITORS

Amounts falling due within one year

6

615,856

574,702

NET CURRENT LIABILITIES

(531,115

)

(518,552

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(330,107

)

(283,159

)

CREDITORS

Amounts falling due after more than one year

7

(166,642

)

(180,382

)

PROVISIONS FOR LIABILITIES

(3,196

)

(3,684

)

NET LIABILITIES

(499,945

)

(467,225

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(500,945

)

(468,225

)

(499,945

)

(467,225

)

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 5 June 2025 and were signed on its behalf by:

J B Lane - Director

1.	STATUTORY INFORMATION

Taylor Lane (Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements

The company is included by full consolidation in the consolidated financial statements of its intermediate parent company, Cala Group (Holdings) Limited. The registered office of Cala Group (Holdings) Limited is: Cala House, 54 The Causeway, Staines-Upon-Thames, Surrey, TW18 3AX.

Going concern

The company is gradually moving towards profitability, reflected in the significantly reduced loss for the year, compared with the previous period.

In the current period the company is generating monthly net profits, reflecting an increase in jig capacity and production.

The company's 5 year budget predicts a long term position of positive balance sheet reserves, with the continued support of the Cala Group.

The directors are confident that the company will continue to trade for the foreseeable future.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services in the ordinary nature of the business, net of Value Added Tax. In the case of long term contracts, credit is taken appropriate to the stage of completion when the outcome of the contract can be ascertained with reasonable certainty.

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

-

15% on reducing balance

Office equipment

-

15% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Office

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2024

211,412

46,961

8,368

266,741

Additions

-

-

2,760

2,760

At 31 December 2024

211,412

46,961

11,128

269,501

DEPRECIATION

At 1 January 2024

14,094

13,713

3,541

31,348

Charge for year

21,141

13,663

2,341

37,145

At 31 December 2024

35,235

27,376

5,882

68,493

NET BOOK VALUE

At 31 December 2024

176,177

19,585

5,246

201,008

At 31 December 2023

197,318

33,248

4,827

235,393

Fixed assets, included in the above, which are held under finance leases are as follows:

Leasehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

211,412

25,804

237,216

DEPRECIATION

At 1 January 2024

14,094

7,118

21,212

Charge for year

21,141

10,678

31,819

At 31 December 2024

35,235

17,796

53,031

NET BOOK VALUE

At 31 December 2024

176,177

8,008

184,185

At 31 December 2023

197,318

18,686

216,004

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

25,859

16,759

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Finance leases (see note 8)

26,005

39,520

Trade creditors

27,872

52,568

Taxation and social security

106,597

73,263

Other creditors

455,382

409,351

615,856

574,702

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Finance leases (see note 8)

166,642

180,382

Amounts falling due in more than five years:

Repayable by instalments

Finance leases

84,736

32,393

8.	LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases

2024

2023

£

£

Net obligations repayable:

Within one year

26,005

39,520

Between one and five years

81,906

147,989

In more than five years

84,736

32,393

192,647

219,902

As of 1 May 2023, the date of acquisition of the Cala Group, all assets previously treated as operating leases have been accounted for as finance leases in line with group accounting policies.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

A A Houston (Senior Statutory Auditor)

for and on behalf of R J Francis & Co Limited

10.	RELATED PARTY DISCLOSURES

Taylor Lane Timber Frame Limited is a related company of Taylor Lane (Wales) Limited, being part of the Cala Group. All transactions between the two companies are strictly at properly agreed commercial rates.

Included within the creditors total at note 8 are amounts due to Taylor Lane Timber Frame Limited totalling £616,730 (2023 - £403,351).

The following transactions with Taylor Lane Timber Frame Limited have occurred during the financial year as follows:-

2024

2023

Sales and work done

£1,109,268

£1,028,337

Management charges

£65,000

£95,000

Taylor Lane Properties Limited also relates to Taylor Lane (Wales) Limited, in respect of Mr J B Lane being director of both companies. Rent was paid to the company of £NIL (2023 - £13,696).

11.	ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

The immediate parent undertaking is Cala Management Limited.

The ultimate parent Company registered in the United Kingdom is Ferguson BidCo Limited. The address of Ferguson BidCo Limited is Duo Level 6, 280 Bishopsgate, London, United Kingdom, EC2M 4RB. The Company heads the largest UK group in which the results of this Company are consolidated.

The ultimate parent company is Ferguson TopCo Limited, which has its registered office address at 2nd Floor, Sir Walter Raleigh House, 48-50 Esplanade, St Helier, Jersey, JE2 3QB. The consolidated financial statements of this Group are not available to the public.

The Company is ultimately controlled by funds controlled by Sixth Street Partners LLC and Patron Capital Advisors LLP.