Taylor Manufacturing Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12610132 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2022

for

Taylor Manufacturing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Carl Lewis

Gareth Jones

SECRETARY:

REGISTERED OFFICE:

Common Road

Huthwaite

Sutton-In-Ashfield

NG17 6AD

REGISTERED NUMBER:

12610132 (England and Wales)

ACCOUNTANTS:

Neil Hodge & Co Limited

Chartered Accountants

106a Commercial Street

Risca

Gwent

NP11 6EE

FIXED ASSETS

Tangible assets

4

16,806

35,139

CURRENT ASSETS

Stocks

1,089,614

1,033,166

Debtors

5

2,536,957

759,600

Cash at bank

171,439

107,695

3,798,010

1,900,461

CREDITORS

Amounts falling due within one year

6

3,406,305

1,753,616

NET CURRENT ASSETS

391,705

146,845

TOTAL ASSETS LESS CURRENT LIABILITIES

408,511

181,984

PROVISIONS FOR LIABILITIES

3,200

6,600

NET ASSETS

405,311

175,384

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

405,211

175,284

SHAREHOLDERS' FUNDS

405,311

175,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2023 and were signed on its behalf by:

Carl Lewis - Director

1.	STATUTORY INFORMATION

Taylor Manufacturing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2021 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2021

and 31 May 2022

55,000

DEPRECIATION

At 1 June 2021

19,861

Charge for year

18,333

At 31 May 2022

38,194

NET BOOK VALUE

At 31 May 2022

16,806

At 31 May 2021

35,139

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

1,493,817

738,588

Other debtors

1,043,140

21,012

2,536,957

759,600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade creditors

824,545

163,311

Taxation and social security

111,499

109,047

Other creditors

2,470,261

1,481,258

3,406,305

1,753,616

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.22

31.5.21

value:

£

£

100

Ordinary

1

100

100

8.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Solar Fabrications Holdings Limited, registered in the UK.

The ultimate parent company is Tenby Holdings Limited, registered in the UK.

The ultimate controlling party is Mr C P Lewis.