The Taylor Clarke Partnership Limited - Accounts to registrar (filleted) - small 18.2
The Taylor Clarke Partnership Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2020 |
for |
The Taylor Clarke Partnership Limited |
The Taylor Clarke Partnership Limited (Registered number: SC135704) |
Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
The Taylor Clarke Partnership Limited |
Company Information |
for the Year Ended 31 December 2020 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Newton Terrace |
Charing Cross |
Glasgow |
G3 7PJ |
The Taylor Clarke Partnership Limited (Registered number: SC135704) |
Abridged Statement of Financial Position |
31 December 2020 |
31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | 6 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Capital redemption reserve | 8 |
Other reserves | 8 | ( |
) | ( |
) |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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 Taylor Clarke Partnership Limited (Registered number: SC135704) |
Abridged Statement of Financial Position - continued |
31 December 2020 |
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 and authorised for issue on |
The Taylor Clarke Partnership Limited (Registered number: SC135704) |
Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
1. | STATUTORY INFORMATION |
The Taylor Clarke Partnership Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 licenses |
It is the policy of the company to write off such expenditure over 3 years on a straight line method. |
Tangible fixed assets |
Library | - |
Equipment | - |
Computer equipment | - |
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. |
The Taylor Clarke Partnership Limited (Registered number: SC135704) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2020 |
and 31 December 2020 |
AMORTISATION |
At 1 January 2020 |
and 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2020 |
Additions |
At 31 December 2020 |
DEPRECIATION |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
The Taylor Clarke Partnership Limited (Registered number: SC135704) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
6. | PROVISIONS FOR LIABILITIES |
31.12.20 | 31.12.19 |
£ | £ |
Deferred tax |
Deferred tax | 1,625 | 1,652 |
Profit & loss account movement | (254 | ) | (27 | ) |
1,371 | 1,625 |
Deferred |
tax |
£ |
Balance at 1 January 2020 |
Accelerated capital allowances | (254 | ) |
Balance at 31 December 2020 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.20 | 31.12.19 |
value: | £ | £ |
Ordinary A | £1 | 12,500 | 12,500 |
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 2020 | ( |
) | 38,446 |
Profit for the year |
At 31 December 2020 | ( |
) | 48,912 |
9. | 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 (2019 :£388) which is held on behalf of The Taylor Clarke Partnership Limited Employee Benefit Trust. |
10. | 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 £1 shares. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
The Taylor Clarke Partnership Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Taylor Clarke Partnership Limited for the year ended 31 December 2020 which comprise the Abridged Statement of Comprehensive Income, Abridged Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the Board of Directors of The Taylor Clarke Partnership Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Taylor Clarke Partnership Limited and state those matters that we have agreed to state to the Board of Directors of The Taylor Clarke Partnership Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that The Taylor Clarke Partnership Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Taylor Clarke Partnership Limited. You consider that The Taylor Clarke Partnership Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of The Taylor Clarke Partnership Limited. 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 statutory financial statements. |
Chartered Accountants |
10 Newton Terrace |
Charing Cross |
Glasgow |
G3 7PJ |