Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 4 |
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| Investments | 5 |
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| 3,842,971 | 3,844,061 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| 918,411 | 913,797 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 381,385 | 265,217 | ||
| Total assets less current liabilities | 4,224,356 | 4,109,278 | ||
| Creditors: amounts falling due after more than one year | 8 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Share premium account |
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| Capital redemption reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of D W Taylor and Sons Ltd (registered number:
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W. T. M. Taylor
Director |
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.
D W Taylor and Sons Ltd (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:
The Farm Office
Langbourne
Blandford Forum
DT11 8BT
United Kingdom.
Summary of significant accounting policies and key accounting estimates:
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance:
These financial statements have been prepared 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.
Basis of preparation:
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The profit and loss account has been updated for 30 September 2024 to present the £19,063 bank interest and £3,369 loan interest within interest payable. They were previously included within administration expenses.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimated of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-gong services is recognised by reference to the stage of completion.
Turnover is accounted for at the time goods leave the company's premises or the service is performed. The Basic Payment Scheme agricultural subsidy is accounted for at the earlier of the date of receipt or end of scheme year.
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.
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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 taxable income.
Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
| Land and buildings |
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| not depreciated | |
| Plant and machinery |
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| Vehicles |
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| Fixtures and fittings |
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Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Classification:
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement:
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
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.
The profit and loss account has been updated for 30 September 2024 to present the £19,063 bank interest and £3,369 loan interest within interest payable. They were previously included within administration expenses.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Plant and machinery | Vehicles | Fixtures and fittings | Total | |||||
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| Cost | |||||||||
| At 01 October 2024 |
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| Additions |
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| Disposals |
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| At 30 September 2025 |
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| Accumulated depreciation | |||||||||
| At 01 October 2024 |
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| Charge for the financial year |
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| Disposals |
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| At 30 September 2025 |
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| Net book value | |||||||||
| At 30 September 2025 | 3,573,524 | 178,347 | 17,764 | 73,331 | 3,842,966 | ||||
| At 30 September 2024 | 3,484,035 | 222,285 | 27,796 | 109,940 | 3,844,056 |
| Listed investments | Total | ||
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| Cost or valuation before impairment | |||
| At 01 October 2024 |
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| At 30 September 2025 |
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| Carrying value at 30 September 2025 |
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| Carrying value at 30 September 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
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| Amounts owed by directors |
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| Prepayments |
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| VAT recoverable |
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| Other debtors |
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| £ | £ | ||
| Bank loans and overdrafts |
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| Trade creditors |
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| Accruals |
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| Taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts |
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The aggregate amount of Bank loans and overdrafts are secured by a legal charge over the assets of the company. The total of these at the balance sheet date is £617,195 (2024: £408,191)
Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| At 1 October | (329,469) | (318,176) | |
| Advances to directors | (23,559) | (12,288) | |
| Repayments by directors | 994 | 994 | |
| At 30 September | (352,034) | (329,469) |
Interest free loan, repayable on demand