Taylands Limited - Accounts to registrar (filleted) - small 18.2

Taylands Limited - Accounts to registrar (filleted) - small 18.2

TAYLANDS LIMITED - Company Information

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REGISTERED NUMBER: 07783916 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

TAYLANDS LIMITED
TAYLANDS LIMITED (REGISTERED NUMBER: 07783916)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TAYLANDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: B P Taylor
A J Taylor





REGISTERED OFFICE: 14 Cottesbrooke Park
Heartlands
Daventry
Northamptonshire
NN11 8YL





REGISTERED NUMBER: 07783916 (England and Wales)





ACCOUNTANTS: DNG Dove Naish
Chartered Accountants
Eagle House
28 Billing Road
Northampton
NN1 5AJ
Page 1
TAYLANDS LIMITED (REGISTERED NUMBER: 07783916)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 138,863 138,863

CURRENT ASSETS
Cash at bank 3,361 2,609

CREDITORS
Amounts falling due within one year 5 51,968 51,825
NET CURRENT LIABILITIES (48,607 ) (49,216 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
90,256
89,647

CREDITORS
Amounts falling due after more than one
year
6
79,085
82,626
NET ASSETS 11,171 7,021

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,071 6,921
SHAREHOLDERS' FUNDS 11,171 7,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 3 September 2018 and were signed on
its behalf by:



B P Taylor - Director


The notes form part of these financial statements

Page 2
TAYLANDS LIMITED (REGISTERED NUMBER: 07783916)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018


1. STATUTORY INFORMATION

Taylands 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position 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.

Page 3 continued...
TAYLANDS LIMITED (REGISTERED NUMBER: 07783916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term
deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the statement of
comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a
similar debt instrument, those financial instruments are classed as financial liabilities. Financial
liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to
financial liabilities are included in the profit and loss account. Finance costs are calculated so as to
produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a
financial liability then this is classed as an equity instrument. Dividends and distributions relating to
equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2017
and 31 March 2018 138,863
NET BOOK VALUE
At 31 March 2018 138,863
At 31 March 2017 138,863

The director considered the value of the property at the year end to be equivalent to the cost value.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 3,524 3,388
Tax 974 937
Directors' current accounts 43,900 43,900
Accruals and deferred income 3,570 3,600
51,968 51,825

Page 4 continued...
TAYLANDS LIMITED (REGISTERED NUMBER: 07783916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans - 2-5 years 15,511 14,909
Bank loans more than 5 years 63,574 67,717
79,085 82,626

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 63,574 67,717

7. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 82,609 86,014

The bank loan is secured by a charge over the investment property.

Page 5