Taylor Commercial Management Ltd
Taylor Commercial Management Ltd
Registered number: 08670117
Directors' Report and
Unaudited Financial Statements
For The Year Ended
31 August 2022
Taylor Commercial Management Ltd
Directors' Report and Unaudited Financial Statements
For The Year Ended
31 August 2022
Directors' Report and Unaudited Financial Statements
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| Page | |
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| Company Information | 1 |
| Directors' Report | 2 |
| Accountants' Report | 3 |
| Statement of Income and Retained Earnings | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6—8 |
Taylor Commercial Management Ltd
Company Information
For The Year Ended
31 August 2022
Company Information
| Directors |
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| Company Number |
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| Registered Office | 5 The Mallards |
| Frimley | |
| Camberley | |
| Surrey | |
| GU16 8PB | |
| Accountants |
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| Englefield Green | |
| Surrey | |
| TW20 0DF | |
Taylor Commercial Management Ltd
Company No. 08670117
Directors' Report For The Year Ended
31 August 2022
Directors' Report
The directors present their report and the financial statements for the year ended
31 August 2022
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Principal Activity
The principal activity of the company in the year under review was that of consultancy services.
Directors
The directors who held office during the year were as follows:
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Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Director
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Taylor Commercial Management Ltd
Accountants' Report
For The Year Ended
31 August 2022
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of
Taylor Commercial Management Ltd
For The Year Ended 31 August 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Taylor Commercial Management Ltd
For The Year Ended 31 August 2022 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of
Taylor Commercial Management Ltd
, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of
Taylor Commercial Management Ltd
and state those matters that we have agreed to state to the directors of
Taylor Commercial Management Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Taylor Commercial Management Ltd
and its directors, as a body, for our work or for this report.
It is your duty to ensure that
Taylor Commercial Management Ltd
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
Taylor Commercial Management Ltd
. You consider that
Taylor Commercial Management Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of
Taylor Commercial Management Ltd
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Bank House, 81 St Judes Road
Englefield Green
Surrey
TW20 0DF
Taylor Commercial Management Ltd
Statement of Income and Retained Earnings
For The Year Ended
31 August 2022
Statement of Income and Retained Earnings
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| Notes | £ | £ | ||
| TURNOVER |
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| GROSS PROFIT |
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| Administrative expenses |
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| Other operating income |
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| OPERATING PROFIT/(LOSS) | 2 |
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| Other interest receivable and similar income |
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| Interest payable and similar charges |
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| PROFIT/(LOSS) BEFORE TAXATION |
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| Tax on Profit/(loss) |
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| PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
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| RETAINED EARNINGS | ||||
| As at
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| Dividends paid | (15,500) | (9,000) | ||
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The notes on pages 6 to 8 form part of these financial statements.
Taylor Commercial Management Ltd
Balance Sheet
As at
31 August 2022
Balance Sheet
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 11,614 | 11,570 | |||
On behalf of the board
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Director
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The notes on pages 6 to 8 form part of these financial statements.
Taylor Commercial Management Ltd
Notes to the Financial Statements
For The Year Ended
31 August 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
1.3.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
1.4.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1.5.
Government Grant
The company accounts for grants using the accrual method. The company received a government grant during the
year of £625 (2021 - £9,142) which was in relation to Corona-Virus Job Retention Scheme.
2.
Operating Profit
The operating profit is stated after charging:
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| Directors' remuneration |
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3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2021: 2)
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Debtors
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| Due within one year | |||
| VAT | - |
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| Other taxes and social security |
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Taylor Commercial Management Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2022
5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Corporation tax |
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| BBL due < 1 year |
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6.
Creditors: Amounts Falling Due After More Than One Year
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| BBL due 1-2 years |
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| BBL due 2-5 years |
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The BBL Scheme was launched on 27 April 2020 and the scheme is 100% government backed. The interest rate is 2.5% per year and the term of the loan is 6 years and early repayment is possible without additional charges.
8.
Dividends
| 2022 | 2021 | ||
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| On equity shares: | |||
| Final dividend paid |
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| 15,500 | 9,000 | ||
Taylor Commercial Management Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2022
9.
Related Party Transactions
During the year, dividends of £14,000 (2021 - £7,500) and £1,500 (2021 - £1,500) were paid to the directors I M Taylor and D Taylor respectively.
The controlling party is the company director by virtue of his shareholding.
10.
General Information
Taylor Commercial Management Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
08670117
. The registered office is 5 The Mallards, Frimley, Camberley, Surrey, GU16 8PB.