Registration number:
RL Taylor Haulage Limited
for the Year Ended 31 October 2025
RL Taylor Haulage Limited
Contents
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
RL Taylor Haulage Limited
(Registration number: 03099260)
Statement of Financial Position as at 31 October 2025
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Note |
2025 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
426,000 |
26,000 |
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Profit and loss account |
672,804 |
751,436 |
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Shareholders' funds |
1,098,804 |
777,436 |
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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
RL Taylor Haulage Limited
(Registration number: 03099260)
Statement of Financial Position as at 31 October 2025 (continued)
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RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Principal activity
The principal activity of the company is that of haulage and stone crushing contractors.
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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.
RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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2 |
Accounting policies (continued) |
Prior period errors
In the current period management have discovered that certain items of plant and machinery had not been capitalised. The error has been corrected as a prior period adjustment in the period prior to 31 October 2024. Previously tangible fixed assets were understated by £155,033 and the profit and loss reserve was understated by the same amount.
Additionally, deferred tax had not been recognised in the statement of financial position. This error has been corrected as a prior period adjustment in the period prior to 31 October 2024. Previously the provision for liabilities within the statement of financial position were understated and the profit and loss reserve overstated by £371,169.
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 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 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.
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.
RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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2 |
Accounting policies (continued) |
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.
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:
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Asset class |
Depreciation method and rate |
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Land and buildings |
10% on cost |
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Fixtures and fittings |
15% on reducing balance |
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Plant and machinery |
20% on reducing balance |
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.
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
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .
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 inventories 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.
RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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2 |
Accounting policies (continued) |
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.
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 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 in
finance costs 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.
RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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Accounting policies (continued) |
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.
Financial instruments
Recognition and measurement
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 November 2024 |
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Additions |
- |
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Disposals |
- |
- |
( |
( |
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At 31 October 2025 |
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Depreciation |
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At 1 November 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
( |
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At 31 October 2025 |
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Carrying amount |
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At 31 October 2025 |
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At 31 October 2024 |
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Included within the net book value of land and buildings above is £15,200 (2024 - £22,799) in respect of freehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
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2025 |
2024 |
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Plant and machinery |
2,499,611 |
2,830,694 |
RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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Stocks |
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2025 |
2024 |
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Finished goods and goods for resale |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
RL Taylor Haulage Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)
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Related party transactions |
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Transactions with directors - directors loans |
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2024 |
At 1 November 2023 |
Advances to director |
Repayments by director |
At 31 October 2024 |
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( |
- |
- |
( |
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2025 |
At 1 November 2024 |
Advances to director |
Repayments by director |
At 31 October 2025 |
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( |
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( |
( |
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Parent and ultimate parent undertaking |
From 13 November 2025 the company's parent is
These financial statements are available upon request from C/o Westcotts (Sw) LLP, Plym House, 3 Longbridge Road, Marsh Mills, Plymouth, Devon, PL6 8LT