ACCOUNTS - Final Accounts preparation

Company registration number: 03031047

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 APRIL 2025

	PATEL AND TAYLOR LIMITED


PATEL AND TAYLOR LIMITED

COMPANY INFORMATION

Directors	P H Patel
	A R Taylor


Company secretary	A R Taylor


Registered number	03031047


Registered office	48 Rawstorne Street
	London
	EC1V 7ND


Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


PATEL AND TAYLOR LIMITED REGISTERED NUMBER:03031047

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		4,967,538		4,670,381
Investment property	5		6,950,000		6,750,000
			11,917,538		11,420,381
Current assets
Debtors: amounts falling due within one year	6	2,758,833		2,757,808
Cash at bank and in hand		129,176		154,293
		2,888,009		2,912,101
Creditors: amounts falling due within one year	7	(5,725,076)		(5,374,225)
Net current liabilities			(2,837,067)		(2,462,124)
Total assets less current liabilities			9,080,471		8,958,257
Provisions for liabilities
Deferred tax	8		(603,000)		(634,000)
Net assets			8,477,471		8,324,257

Capital and reserves
Called up share capital	100	100
Profit and loss account	8,477,371	8,324,157
	8,477,471	8,324,257

Page 1


PATEL AND TAYLOR LIMITED REGISTERED NUMBER:03031047

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 APRIL 2025

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A R Taylor

Director

Date: 4 December 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2


PATEL AND TAYLOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1.	General information

Patel and Taylor Limited is a private company, limited by shares, registered in England and Wales, registration number 03031047. The registered office and principal place of business is 48 Rawstorne Street, London, EC1V 7ND.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover comprises rents receivable and is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Current and deferred taxation

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

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.4

Investment property

Investment property is carried at fair value determined annually by the directors in consultation with external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3


PATEL AND TAYLOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

2.Accounting policies (continued)

2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 May 2024	4,670,381
	Additions	53,292,984
	Disposals	(52,700,680)
	Revaluations	(295,147)
	At 30 April 2025	4,967,538

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 May 2024	6,750,000
	Gain on revaluation	200,000
	At 30 April 2025	6,950,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Page 4


PATEL AND TAYLOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Debtors

					2025	2024
					£	£


Trade debtors	3,014	-
Other debtors	2,740,266	2,737,270
Prepayments and accrued income	15,553	20,538
	2,758,833	2,757,808

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	9,752	14,814
Corporation tax	74,982	168,545
Other creditors	5,635,942	5,186,866
Accruals and deferred income	4,400	4,000
	5,725,076	5,374,225

8.	Deferred taxation

		2025
		£

	At beginning of year	(634,000)
	Charged to profit or loss	31,000
	At end of year	(603,000)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Revaluation surplus on investment property	(600,000)	(550,000)
Revaluation on fixed assets investments	(3,000)	(84,000)
	(603,000)	(634,000)

Page 5


PATEL AND TAYLOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025


9.	Profit and loss account

The profit and loss account reserve includes £3,038,715 (2024: £3,109,351) which is not currently distributable to the shareholders.

10.

Related party transactions

At year end, there was an amount of £530 (2024: £530) owed to the director Mr A Taylor. Amounts advanced during the year were £39,000 and amounts drawn during the year were £39,000. This loan is interest free.
At year end, there was an amount of £18 (2024: £18) owed to the director Mr P Patel. Amounts advanced during the year were £39,000 and amounts drawn during the year were £39,000. This loan is interest free.

Page 6