FOR THE YEAR ENDED 31 MARCH 2026
TAYLOR-DAVIS LIMITED
COMPANY INFORMATION
TAYLOR-DAVIS LIMITED
CONTENTS
TAYLOR-DAVIS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their strategic report for the year ended 31 March 2026.
The principal activity of the company in the year under review was that of wholesaling of rigid packaging products.
The principal activity of the company in the year under review was that of wholesaling of rigid packaging products.
The Directors are satisfied with the performance for the year with the results showing a decent set of results against a backdrop of a continuing challenging economic climate. During this time, the Company has continued to supply its wide and varied customer base with a high level of service with quality products.
Pressures from the supply chain and continued inflationary price influences have been met and dealt with by our strong longstanding leadership Team of Directors and Operational Senior Management Team. We continue to meet regularly to constantly monitor the situation and act accordingly.
We are a key distributor to many different markets, and we have in the main, maintained continuity of supply of products where possible and we are extremely pleased as a business to have achieved this. We still believe that the economic future remains very uncertain, however, our strong infrastructure leaves us well positioned to deal with whatever may happen next.
Our fellow Group businesses that operate in the same market sector continue to post good results, which mirror what is happening in this Company.
Operating profitability has decreased because of the fall in turnover, but we will maintain the same sound business principles that we have been applying over many years by our experienced, stable, and well-managed management team and well-respected workforce.
Pressures from the supply chain and continued inflationary price influences have been met and dealt with by our strong longstanding leadership Team of Directors and Operational Senior Management Team. We continue to meet regularly to constantly monitor the situation and act accordingly.
We are a key distributor to many different markets, and we have in the main, maintained continuity of supply of products where possible and we are extremely pleased as a business to have achieved this. We still believe that the economic future remains very uncertain, however, our strong infrastructure leaves us well positioned to deal with whatever may happen next.
Our fellow Group businesses that operate in the same market sector continue to post good results, which mirror what is happening in this Company.
Operating profitability has decreased because of the fall in turnover, but we will maintain the same sound business principles that we have been applying over many years by our experienced, stable, and well-managed management team and well-respected workforce.
The directors have identified the following principal risks and uncertainties affecting the company:
Market risk: The company is affected by the market price of raw materials of both plastic and metal in the products it purchases from our manufacturing suppliers. There is little control we can directly influence over this other than maintain regular dialogue with our long-standing suppliers.
Legislative and regulatory risk: We have adopted and implemented the regulations relating to Extended Producer Responsibility (EPR) for packaging, but legislative changes are still being rolled out by Government. There are no other new changes that have been introduced, but the Company does monitor any changes in legislative or regulatory risk.
Actions of competitors: We will continue to explore for new products, and our Sales and Marketing teams are initiative-taking in looking for new opportunities especially in markets that we have not previously been involved in.
Operational risks: Cover is in place for the provision of general and fleet insurance for the operational aspects of the business. Taylor-Davis Limited also has a trade credit insurance policy over its book debts and in conjunction with a strictly controlled credit function we endeavour to minimise the risk of any bad debts.
In respect of our IT infrastructure there are robust controls to safeguard our data, provide backup information in the event of disaster recovery and our hardware and software is monitored periodically.
Market risk: The company is affected by the market price of raw materials of both plastic and metal in the products it purchases from our manufacturing suppliers. There is little control we can directly influence over this other than maintain regular dialogue with our long-standing suppliers.
Legislative and regulatory risk: We have adopted and implemented the regulations relating to Extended Producer Responsibility (EPR) for packaging, but legislative changes are still being rolled out by Government. There are no other new changes that have been introduced, but the Company does monitor any changes in legislative or regulatory risk.
Actions of competitors: We will continue to explore for new products, and our Sales and Marketing teams are initiative-taking in looking for new opportunities especially in markets that we have not previously been involved in.
Operational risks: Cover is in place for the provision of general and fleet insurance for the operational aspects of the business. Taylor-Davis Limited also has a trade credit insurance policy over its book debts and in conjunction with a strictly controlled credit function we endeavour to minimise the risk of any bad debts.
In respect of our IT infrastructure there are robust controls to safeguard our data, provide backup information in the event of disaster recovery and our hardware and software is monitored periodically.
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TAYLOR-DAVIS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Although both our turnover and gross profit margin have decreased, we are happy with the result that has been achieved. Profit before tax has fallen during this year, although still at a reasonable level. As outlined in the Review of the Business section, our strong leadership team will continue to review our customer service standards, and we are always continually monitoring our efficiency levels, which may result in changes to the depots out of which customers are serviced.
This report was approved by the board and signed on its behalf.
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TAYLOR-DAVIS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The directors present their report and the financial statements for the year ended 31 March 2026.
The profit for the year, after taxation, amounted to £1,387,150 (2025: £2,008,351).
During the year dividends of £2,500,000 were declared and paid (2025:£Nil).
During the year dividends of £2,500,000 were declared and paid (2025:£Nil).
The directors who served during the year were:
Market risk
Market risk encompasses three types of risk being price risk, interest rate risk and currency risk.
Price risk
The company operates in a competitive market. If the company does not continue to compete effectively by developing its product range and responding to activities in the market it could lose customers and its results, cash flow and financial conditions could adversely be affected.
Interest rate risk
The company is exposed to interest rate risk through the impact of rate changes on interest-bearing borrowings. The company's policy is to obtain the most favourable interest rates available for its borrowings.
Interest is paid on assets being purchased through finance leases. All finance leases have a fixed rate of interest which applies for the duration of the agreement. Therefore there will be no effect to the interest payable in the event of future interest rate changes.
The company does not have significant interest-bearing assets and liabilities.
The company does not use any derivative instruments to reduce its economic exposure to changes in interest rates.
Interest is paid on assets being purchased through finance leases. All finance leases have a fixed rate of interest which applies for the duration of the agreement. Therefore there will be no effect to the interest payable in the event of future interest rate changes.
The company does not have significant interest-bearing assets and liabilities.
The company does not use any derivative instruments to reduce its economic exposure to changes in interest rates.
Foreign currency risk
The company makes purchases from a small number of suppliers whose invoices are denominated in currencies other than sterling. The most frequently used currencies other than sterling are the Euro and the US Dollar.
Credit risk
The company's principal assets are cash deposits and trade debtors. The credit risk associated with cash deposits is limited as the accounts are held with major UK high street banks only. The principal credit risk arises therefore from its trade debtors and the company manages closely its exposure to bad debts by strong credit control and credit checks for new accounts.
Liquidity risk
The company seeks to manage its financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.
The company policy throughout the year has been to hold cash balances in readily accessible cash deposits and utilise leasing facilities for tangible asset acquisitions.
The company policy throughout the year has been to hold cash balances in readily accessible cash deposits and utilise leasing facilities for tangible asset acquisitions.
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TAYLOR-DAVIS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The company uses various financial instruments including loans, cash equity capital and various items such as trade debtors and creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.
Exposure to foreign currency, credit, liquidity and cash flow interest rate risks arises in the normal course of the company's business. These risks are limited by the company's financial management policies and practices described above.
Exposure to foreign currency, credit, liquidity and cash flow interest rate risks arises in the normal course of the company's business. These risks are limited by the company's financial management policies and practices described above.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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TAYLOR-DAVIS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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TAYLOR-DAVIS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TAYLOR-DAVIS LIMITED
We have audited the financial statements of Taylor-Davis Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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TAYLOR-DAVIS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TAYLOR-DAVIS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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TAYLOR-DAVIS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TAYLOR-DAVIS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We have considered the following:
∙The nature of the industry and sector, control environment and business performance;
∙Results of our enquiries of management and directors in relation to their own identification and assessment of the risks of irregularities within the company; and
∙Any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the areas of high risk to be in relation to revenue recognition. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focussing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures within the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Financial Reporting Standard 102 and UK tax legislation. In addition we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental for the Company's ability to operate or avoid a material penalty. These include health and safety regulations, employment legislation and data protection laws.
Our audit procedures performed to respond to the risks identified included, but were not limited to:
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
∙Enquiring of management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
∙Identifying and testing journal entries, evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
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TAYLOR-DAVIS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TAYLOR-DAVIS LIMITED (CONTINUED)
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
10 Temple Back
BS1 6FL
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TAYLOR-DAVIS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026
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TAYLOR-DAVIS LIMITED
REGISTERED NUMBER:00978584
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2026 .
The notes on pages 13 to 27 form part of these financial statements.
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TAYLOR-DAVIS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Taylor-Davis Limited is a private company, limited by shares, registered in England and Wales. The registered office is Moat Works, Moat Road, West Wilts Trading Estate, Westbury, BA13 4JF.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Atkinson Equipment Group Limited as at 31 March 2026 and these financial statements may be obtained from Companies House.
After reviewing the Company's forecasts and projections, which cover the 12-month period from the date of signing the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Functional and presentation currency
Transactions and balances
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, or if held under finance lease, over the lease term, whichever is shorter.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of financial assets
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Derecognition of financial instruments
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The whole of the turnover is attributable to the one principal activity of the company.
Analysis of turnover by country of destination:
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
12.TAXATION (CONTINUED)
There were no factors that may affect future tax charges.
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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TAYLOR-DAVIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The company operates a defined contribution pension scheme. During the year the charge to profit or loss in respect of the defined contribution scheme was £239,017 (2025: £222,497). At 31 March 2026, contributions of £23,480 (2025: £21,508) were due to the fund and are included in creditors.
The immediate and ultimate parent undertaking is Atkinson Equipment Group Limited, a company incorporated in England and Wales.
There is no ultimate controlling party.
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