Taylor Wilcox Commercial Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06859795

Taylor Wilcox Commercial Ltd

Filleted Unaudited Financial Statements

31 March 2025

Taylor Wilcox Commercial Ltd

Financial Statements

Year ended 31 March 2025

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 6

Taylor Wilcox Commercial Ltd

Balance Sheet

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,506	2,276

Current assets

Debtors	6	3,210	6,944
Cash at bank and in hand		5,547	24,610
		-------	--------
		8,757	31,554

Creditors: amounts falling due within one year	7	63,301	30,522
		--------	--------
Net current (liabilities)/assets		( 54,544)	1,032
		--------	-------
Total assets less current liabilities		( 53,038)	3,308

Creditors: amounts falling due after more than one year	8	9,838	12,199

Provisions	286	432
	--------	--------
Net liabilities	( 63,162)	( 9,323)
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 63,262)	( 9,423)
	--------	-------
Shareholders deficit	( 63,162)	( 9,323)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit & loss account has not been delivered.

For the year ending 31 March 2025 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 .

Taylor Wilcox Commercial Ltd

Balance Sheet (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 18 December 2025 , and are signed on behalf of the board by:

Mr S A Taylor

Director

Company registration number: 06859795

Taylor Wilcox Commercial Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 King Street, Newcastle under Lyme, Staffordshire, ST5 1JE, United Kingdom. The company registration number is 06859795 .

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered. Revenue from the sales of services is recognised upon the completion of the service.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objectives evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.

Defined contribution plans

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Computer equipment
	£
Cost
At 1 April 2024	5,435
Disposals	( 357)
	-------
At 31 March 2025	5,078
	-------
Depreciation
At 1 April 2024	3,159
Charge for the year	502
Disposals	( 89)
	-------
At 31 March 2025	3,572
	-------
Carrying amount
At 31 March 2025	1,506
	-------
At 31 March 2024	2,276
	-------

6. Debtors

	2025	2024
	£	£
Trade debtors	1,920	5,787
Other debtors	1,290	1,157
	-------	-------
	3,210	6,944
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,361	2,361
Trade creditors	880	950
Social security and other taxes	4,261	804
Other creditors	55,799	26,407
	--------	--------
	63,301	30,522
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	9,838	12,199
	-------	--------

The bank loan in favour of Lloyds Bank Plc is unsecured. Included within creditors: amounts falling due after more than one year is an amount of £394 (2024: £2,755) in respect of liabilities payable by instalments which fall due for payment after more than five years.