Taylor Mammon and Nathan Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11178988 (England and Wales)

Unaudited Financial Statements

for the Period

31 January 2024 to 31 December 2024

for

Taylor Mammon and Nathan Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

Mr A Barnett

REGISTERED OFFICE:

Alexandra House

43 Alexandra Street

Nottingham

NG5 1AY

REGISTERED NUMBER:

11178988 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Taylor Mammon and Nathan Limited for the period ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Taylor Mammon and Nathan Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Taylor Mammon and Nathan Limited and state those matters that we have agreed to state to the director of Taylor Mammon and Nathan Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Taylor Mammon and Nathan Limited and its director for our work or for this report.

It is your duty to ensure that Taylor Mammon and Nathan 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 Taylor Mammon and Nathan Limited. You consider that Taylor Mammon and Nathan Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Taylor Mammon and Nathan 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.

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

29 September 2025

FIXED ASSETS

Intangible assets

4

2,551

2,881

Tangible assets

5

59,964

65,871

62,515

68,752

CURRENT ASSETS

Stocks

447,809

19,560

Debtors

6

251,046

192,214

Cash at bank

70,276

102,195

769,131

313,969

CREDITORS

Amounts falling due within one year

7

233,024

307,447

NET CURRENT ASSETS

536,107

6,522

TOTAL ASSETS LESS CURRENT
LIABILITIES

598,622

75,274

CREDITORS

Amounts falling due after more than one
year

8

2,361,741

2,148,400

NET LIABILITIES

(1,763,119

)

(2,073,126

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(1,763,120

)

(2,073,127

)

SHAREHOLDERS' FUNDS

(1,763,119

)

(2,073,126

)

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

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

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

Mr A Barnett - Director

1.	STATUTORY INFORMATION

Taylor Mammon and Nathan 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.

The principal activity of the company continued to be that of the distribution and retail sale of e-cigarettes, cannabidiol products and accessories.

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 £.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and is supported by group companies. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for good and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), and the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Trademark over length of trademark

Branding over 10 years

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss or service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because its excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Hire purchase and leasing commitments

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

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Foreign exchange

Transactions in currencies other than pound sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit and loss.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Equity instruments

Equity instuments issued by the company are recorded at the proceeds received, net of transaction costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Trademark

Branding

Totals

£

COST

At 31 January 2024

and 31 December 2024

1

3,600

3,601

AMORTISATION

At 31 January 2024

-

720

Amortisation for period

-

330

At 31 December 2024

-

1,050

NET BOOK VALUE

At 31 December 2024

1

2,550

2,551

At 30 January 2024

1

2,880

2,881

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Computer

Buildings

machinery

fittings

equipment

Totals

£

COST

At 31 January 2024

33,115

20,103

51,068

18,088

122,374

Additions

-

2,800

1,067

3,867

At 31 December 2024

33,115

20,103

53,868

19,155

126,241

DEPRECIATION

At 31 January 2024

-

9,676

32,442

14,385

56,503

Charge for period

-

2,390

4,735

2,649

9,774

At 31 December 2024

-

12,066

37,177

17,034

66,277

NET BOOK VALUE

At 31 December 2024

33,115

8,037

16,691

2,121

59,964

At 30 January 2024

33,115

10,427

18,626

3,703

65,871

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

£

Trade debtors

141,036

135,065

Other debtors

110,010

57,149

251,046

192,214

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

£

Trade creditors

16,319

118,399

Taxation and social security

50,924

72,638

Other creditors

165,781

116,410

233,024

307,447

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

£

Amounts owed to group undertakings

2,356,180

2,133,403

Other creditors

5,561

14,997

2,361,741

2,148,400

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is GenCanna Taylor Holdings Limited. The ultimate parent company is GenCanna Holdings LP, an organisation registered in the Cayman Islands.