The Taylor Clarke Partnership Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC135704 (Scotland)

Financial Statements for the Year Ended 31 December 2019

for

The Taylor Clarke Partnership Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

L Clarke

A Houston

S Ballantyne

SECRETARY:

Shelf Secretary Limited

REGISTERED OFFICE:

4 Fitzroy Place

Glasgow

G3 7RH

REGISTERED NUMBER:

SC135704 (Scotland)

AUDITORS:

Murrison & Wilson Limited

Chartered Accountants

10 Newton Terrace

Charing Cross

Glasgow

G3 7PJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

11,118

10,191

11,118

10,191

CURRENT ASSETS

Debtors

85,885

138,070

Cash at bank and in hand

110,161

53,623

196,046

191,693

CREDITORS

Amounts falling due within one year

148,211

155,007

NET CURRENT ASSETS

47,835

36,686

TOTAL ASSETS LESS CURRENT LIABILITIES

58,953

46,877

PROVISIONS FOR LIABILITIES

6

1,625

1,652

NET ASSETS

57,328

45,225

CAPITAL AND RESERVES

Called up share capital

7

18,882

18,882

Share premium

8

23,281

23,281

Capital redemption reserve

8

3,655

3,655

Other reserves

8

(39,300

)

(39,300

)

Retained earnings

8

50,810

38,707

SHAREHOLDERS' FUNDS

57,328

45,225

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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 31 March 2020 and were signed on its behalf by:

L Clarke - Director

1.	STATUTORY INFORMATION

The Taylor Clarke Partnership Limited is a private company, limited by shares , registered in Scotland. 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents and licenses

It is the policy of the company to write off such expenditure over 3 years on a straight line method.

Tangible fixed assets

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

Library

-

15% on reducing balance

Equipment

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

Employee benefit trust

The company operates an Employee Benefit Trust and has de faco control of the funds held by the trust and

bears their benefits and risks. The company records certain assets and liabilities of the trust as its own. Finance

and administrative costs are charged as they accrue.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

and 31 December 2019

21,600

AMORTISATION

At 1 January 2019

and 31 December 2019

21,600

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

103,414

Additions

3,450

At 31 December 2019

106,864

DEPRECIATION

At 1 January 2019

93,223

Charge for year

2,523

At 31 December 2019

95,746

NET BOOK VALUE

At 31 December 2019

11,118

At 31 December 2018

10,191

6.	PROVISIONS FOR LIABILITIES

31.12.19

31.12.18

£

£

Deferred tax

Deferred tax

1,879

1,906

Profit & loss account movement

(254

)

(254

)

1,625

1,652

Deferred

tax

£

Balance at 1 January 2019

1,652

Provided during year

(27

)

Accelerated capital allowances

Balance at 31 December 2019

1,625

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

12,500

Ordinary A

£1

12,500

12,500

6,382

Ordinary B

£1

6,382

6,382

18,882

18,882

8.

RESERVES

Capital

Retained

Share

redemption

Other

earnings

premium

reserve

reserves

Totals

£

£

£

£

£

At 1 January 2019

38,707

23,281

3,655

(39,300

)

26,343

Profit for the year

12,103

12,103

At 31 December 2019

50,810

23,281

3,655

(39,300

)

38,446

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

SIMON A MURRISON (Senior Statutory Auditor)

for and on behalf of Murrison & Wilson Limited

10.	RELATED PARTY DISCLOSURES

The company was under the control of Mr L J Clarke, Director, throughout the current and previous year. Mr L J

Clarke controls 68% of the Ordinary A share capital and 41% of the Ordinary B share capital.

Included within cash at bank and in hand is an amount of £388 (2018 :£388) which is held on behalf of The

Taylor Clarke Partnership Limited Employee Benefit Trust.

11.	OWN SHARES HELD BY EMPLOYEE BENEFIT TRUST

At the year end date The Taylor Clarke Partnership Employee Benefit Trust owns 850 Ordinary A £1 shares and

1,568 Ordinary B £1shares.