Company No: 06625920 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	232,715		141,165
Investments	4	175,000		200,000
		407,715		341,165
Current assets
Stocks	5	608,432		673,004
Debtors	6	690,313		801,060
Cash at bank and in hand		198,139		33,040
		1,496,884		1,507,104
Creditors: amounts falling due within one year	7	( 1,153,962)		( 1,304,929)
Net current assets		342,922		202,175
Total assets less current liabilities		750,637		543,340
Creditors: amounts falling due after more than one year	8	( 90,957)		( 46,009)
Provision for liabilities		( 32,616)		( 27,454)
Net assets		627,064		469,877
Capital and reserves
Called-up share capital		100		100
Profit and loss account		626,964		469,777
Total shareholders' funds		627,064		469,877

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 financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of TAYLOR MADE DESIGNS (UK) LIMITED (registered number: 06625920) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

E T Taylor Director

J W Taylor Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TAYLOR MADE DESIGNS (UK) LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 Ambassador Industrial Estate, 9 Airfield Road, Christchurch, BH23 3TG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Plant and machinery	4 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

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 the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	40		38

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2024	52,541		98,535		151,667		302,743
Additions	28,777		102,061		15,170		146,008
At 31 December 2024	81,318		200,596		166,837		448,751
Accumulated depreciation
At 01 January 2024	25,913		75,423		60,242		161,578
Charge for the financial year	5,120		15,658		33,680		54,458
At 31 December 2024	31,033		91,081		93,922		216,036
Net book value
At 31 December 2024	50,285		109,515		72,915		232,715
At 31 December 2023	26,628		23,112		91,425		141,165

4. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	1,130,139
At 31 December 2024	1,130,139
Provisions for impairment
At 01 January 2024	930,139
Impairment	25,000
At 31 December 2024	955,139
Carrying value at 31 December 2024	175,000
Carrying value at 31 December 2023	200,000

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023
Blu Leisure Ltd	Unit 1 Ambassador Industrial Estate, 9 Airfield Road, Christchurch, England, BH23 3TG	Manufacture and sale of sports clothing and products	Ordinary	100.00%	100.00%

5. Stocks

	2024		2023
	£		£
Stocks	608,432		673,004

6. Debtors

	2024		2023
	£		£
Trade debtors	630,399		749,237
Other debtors	59,914		51,823
	690,313		801,060

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	42,311		38,721
Trade creditors	766,917		711,636
Amounts owed to Group undertakings	70,781		80,781
Taxation and social security	92,307		169,892
Obligations under finance leases and hire purchase contracts (secured)	24,726		2,232
Other creditors	156,920		301,667
	1,153,962		1,304,929

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	3,699		46,009
Obligations under finance leases and hire purchase contracts (secured)	87,258		0
	90,957		46,009

Hire purchase contracts are secured on the assets to which they relate.