Taylor Lewis Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 9

Taylor Lewis Limited

(Registration number: 07057253)
Statement of Financial Position as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	319,488	302,074
Current assets
Debtors	6	2,842,817	2,151,908
Cash at bank and in hand		946	9,785
		2,843,763	2,161,693
Creditors: Amounts falling due within one year	7	(691,657)	(556,273)
Net current assets		2,152,106	1,605,420
Total assets less current liabilities		2,471,594	1,907,494
Creditors: Amounts falling due after more than one year	7	(248,841)	(192,577)
Provisions for liabilities		(134,838)	(75,519)
Net assets		2,087,915	1,639,398
Capital and reserves
Called up share capital		100	100
Profit and loss account		2,087,815	1,639,298
Shareholders' funds		2,087,915	1,639,398

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 3 June 2026 and signed on its behalf by:
 

Mr R S Jackson Director

Taylor Lewis Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1C
The Venture Centre
Yeoford Way
Exeter
Devon
EX2 8LB

Principal activity

The principal activity of the company is quantity surveying.

2	Accounting policies

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 Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and 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 prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Taylor Lewis Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

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.

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

The tax expense for the period comprises current and deferred tax. 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 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Taylor Lewis Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

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:

Asset class	Depreciation method and rate
Short leasehold land and buildings	Over the life of the lease
Plant and machinery	20% straight line
Motor vehicles	25% straight line

Impairment

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Taylor Lewis Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

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 statement of financial position 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 and 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taylor Lewis Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 53 (2024 - 50).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 November 2024	2,000,000	2,000,000
At 31 October 2025	2,000,000	2,000,000
Amortisation
At 1 November 2024	2,000,000	2,000,000
At 31 October 2025	2,000,000	2,000,000
Carrying amount
At 31 October 2025	-	-

Taylor Lewis Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

5	Tangible assets

	Short leasehold land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2024	-	98,139	586,817	684,956
Additions	38,856	7,755	157,765	204,376
Disposals	-	-	(114,840)	(114,840)
At 31 October 2025	38,856	105,894	629,742	774,492
Depreciation
At 1 November 2024	-	62,690	320,192	382,882
Charge for the year	27,553	16,596	142,813	186,962
Eliminated on disposal	-	-	(114,840)	(114,840)
At 31 October 2025	27,553	79,286	348,165	455,004
Carrying amount
At 31 October 2025	11,303	26,608	281,577	319,488
At 31 October 2024	-	35,449	266,625	302,074

Included within the net book value of land and buildings above is £11,303 (2024 - £Nil) in respect of short leasehold land and buildings.
 

6

Debtors

	Note	2025 £	2024 £
Trade debtors		566,184	454,282
Amounts owed by parent undertakings		2,147,504	1,615,162
Other debtors		291	-
Prepayments		5,158	7,178
Accrued income		123,680	75,286
		2,842,817	2,151,908

Taylor Lewis Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	152,566	99,865
Trade creditors		71,615	65,638
Taxation and social security		415,116	348,420
Accruals and deferred income		33,894	26,746
Other creditors		18,466	15,604
		691,657	556,273