1 January 2024 v2025.63.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP045202452024-01-012024-12-31045202452024-12-31045202452023-12-3104520245core:WithinOneYear2024-12-3104520245core:WithinOneYear2023-12-3104520245core:AfterOneYear2024-12-3104520245core:ShareCapital2024-12-3104520245core:ShareCapital2023-12-3104520245core:RetainedEarningsAccumulatedLosses2024-12-3104520245core:RetainedEarningsAccumulatedLosses2023-12-3104520245bus:Director12024-01-012024-12-3104520245bus:Director22024-01-012024-12-3104520245bus:RegisteredOffice2024-01-012024-12-3104520245core:NetGoodwill2024-01-012024-12-3104520245core:LandBuildings2024-01-012024-12-3104520245core:FurnitureFittingsToolsEquipment2024-01-012024-12-3104520245core:MotorVehicles2024-01-012024-12-31045202452023-01-012023-12-3104520245core:NetGoodwill2024-12-3104520245core:IntangibleAssetsOtherThanGoodwill2024-12-3104520245core:LandBuildings2024-01-0104520245core:PlantMachinery2024-01-01045202452024-01-0104520245core:PlantMachinery2024-01-012024-12-3104520245core:LandBuildings2024-12-3104520245core:PlantMachinery2024-12-3104520245core:LandBuildings2023-12-3104520245core:PlantMachinery2023-12-310452024512024-01-012024-12-3104520245countries:EnglandWales2024-01-012024-12-3104520245bus:AuditExemptWithAccountantsReport2024-01-012024-12-3104520245bus:PrivateLimitedCompanyLtd2024-01-012024-12-3104520245bus:SmallEntities2024-01-012024-12-3104520245bus:FullAccounts2024-01-012024-12-31
Company registration number:
04520245
John Taylors (Lincolnshire) Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
John Taylors (Lincolnshire) Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of John Taylors (Lincolnshire) Limited
Year ended
31 December 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
John Taylors (Lincolnshire) Limited
for the year ended
31 December 2024
which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
John Taylors (Lincolnshire) Limited
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
John Taylors (Lincolnshire) Limited
and state those matters that we have agreed to state to the Board of Directors of
John Taylors (Lincolnshire) Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
John Taylors (Lincolnshire) Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
John Taylors (Lincolnshire) 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 profit of
John Taylors (Lincolnshire) Limited
. You consider that
John Taylors (Lincolnshire) Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of John Taylors (Lincolnshire) 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.
A G Smith & Co Ltd
Chartered Certified Accountants
Unit 8
Laceby Business Park
Laceby
North East Lincs
DN37 7DP
United Kingdom
Date:
24 September 2025
John Taylors (Lincolnshire) Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 6
666,766
 
588,003
 
Current assets    
Stocks
2,000
 
2,000
 
Debtors 7
11,290
 
9,315
 
Cash at bank and in hand
202,136
 
40,807
 
215,426
 
52,122
 
Creditors: amounts falling due within one year 8
(477,325
 )
(361,807
 )
Net current liabilities
(261,899
 )
(309,685
 )
Total assets less current liabilities 404,867   278,318  
Creditors: amounts falling due after more than one year 9
(44,827
 ) -  
Provisions for liabilities
(8,457
 )
(7,017
 )
Net assets
351,583
 
271,301
 
Capital and reserves    
Called up share capital
100
 
99
 
Profit and loss account
351,483
 
271,202
 
Shareholders funds
351,583
 
271,301
 
For the 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
24 September 2025
, and are signed on behalf of the board by:
J Laverack
R Laverack
DirectorDirector
Company registration number:
04520245
John Taylors (Lincolnshire) Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
The Mart
,
127 Eastgate
,
Louth
,
LN11 9QE
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and/or services supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
2% straight line
Fixtures, fittings and equipment
10%, 25%, 33% straight line
Motor vehicles
20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
11
(2023:
13.00
).

5 Intangible assets

GoodwillOther intangible assetsTotal
£££
Cost      
At
1 January 2024
and
31 December 2024
90,000
 
6,920
 
96,920
 
Amortisation      
At
1 January 2024
and
31 December 2024
90,000
 
6,920
 
96,920
 
Carrying amount      
At
31 December 2024
 -   -   -  
At 31 December 2023 -   -   -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2024
590,013
 
58,257
 
648,270
 
Additions
29,839
 
79,455
 
109,294
 
Disposals -  
(23,318
 )
(23,318
 )
At
31 December 2024
619,852
 
114,394
 
734,246
 
Depreciation      
At
1 January 2024
10,200
 
50,067
 
60,267
 
Charge
10,797
 
18,040
 
28,837
 
Disposals -  
(21,624
 )
(21,624
 )
At
31 December 2024
20,997
 
46,483
 
67,480
 
Carrying amount      
At
31 December 2024
598,855
 
67,911
 
666,766
 
At 31 December 2023
579,813
 
8,190
 
588,003
 

7 Debtors

20242023
££
Trade debtors
5,684
 
3,708
 
Other debtors
5,606
 
5,607
 
11,290
 
9,315
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
8,639
 
17,985
 
Taxation and social security
40,073
 
38,305
 
Other creditors
428,613
 
305,517
 
477,325
 
361,807
 

9 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
44,827
  -  

10 Guarantees and other financial commitments

A charge exists over the company's freehold property in favour of the directors.