ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

TAYLOR TUNNICLIFF LTD - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2020-12-312020-12-3122020-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2falsetrueOther business support service activities 00215941 2020-01-01 2020-12-31 00215941 2019-01-01 2019-12-31 00215941 2020-12-31 00215941 2019-12-31 00215941 c:Director2 2020-01-01 2020-12-31 00215941 d:CurrentFinancialInstruments 2020-12-31 00215941 d:CurrentFinancialInstruments 2019-12-31 00215941 d:Non-currentFinancialInstruments 2020-12-31 00215941 d:Non-currentFinancialInstruments 2019-12-31 00215941 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 00215941 d:CurrentFinancialInstruments d:WithinOneYear 2019-12-31 00215941 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 00215941 d:Non-currentFinancialInstruments d:AfterOneYear 2019-12-31 00215941 d:ShareCapital 2020-12-31 00215941 d:ShareCapital 2019-12-31 00215941 d:RetainedEarningsAccumulatedLosses 2020-12-31 00215941 d:RetainedEarningsAccumulatedLosses 2019-12-31 00215941 c:FRS102 2020-01-01 2020-12-31 00215941 c:Audited 2020-01-01 2020-12-31 00215941 c:FullAccounts 2020-01-01 2020-12-31 00215941 c:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 00215941 c:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure

Registered number: 00215941









TAYLOR TUNNICLIFF LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020
 
TAYLOR TUNNICLIFF LTD
REGISTERED NUMBER: 00215941

BALANCE SHEET
AS AT 31 DECEMBER 2020

2020
2019
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
  
-
11,885

Cash at bank and in hand
 5 
3,985
3,085

  
3,985
14,970

Creditors: amounts falling due within one year
 6 
(201,484)
(12,742)

Net current (liabilities)/assets
  
 
 
(197,499)
 
 
2,228

Total assets less current liabilities
  
(197,499)
2,228

Creditors: amounts falling due after more than one year
  
-
(215,000)

  

Net liabilities
  
(197,499)
(212,772)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(197,599)
(212,872)

  
(197,499)
(212,772)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Clark
Director

Date: 29 September 2021

The notes on pages 2 to 4 form part of these financial statements.

Page 1
 
TAYLOR TUNNICLIFF LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1.


General information

Taylor Tunnicliff Limited is a limited company incorporated in England and Wales. The address of the  registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the accounts on a going concern basis. This basis is considered appropriate as the immediate parent company has confirmed that it will continue to provide the necessary support to enable the company to meet its forecast liabilities as they fall due. 

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of commission receivable to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Page 2
 
TAYLOR TUNNICLIFF LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)


2.7
Financial instruments (continued)


Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).


4.


Debtors

2020
2019
£
£


Amounts owed by group undertakings
-
11,885

-
11,885



5.


Cash and cash equivalents

2020
2019
£
£

Cash at bank and in hand
3,985
3,085

3,985
3,085



6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Amounts owed to group undertakings
200,000
10,818

Other taxation and social security
1,484
1,924

201,484
12,742


Page 3
 
TAYLOR TUNNICLIFF LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

7.


Creditors: Amounts falling due after more than one year

2020
2019
£
£

Amounts owed to group undertakings
-
215,000

-
215,000



8.


Controlling party

The smallest group for which consolidated financial statements are prepared which include the results of this company is that headed by Mantec Group Limited, and its registered office is Albion Works, Uttoxeter Road, Longton, Stoke-on-Trent, ST3 1PH


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2020 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements regarding the Company's ability to continue as a going concern. At 31 December 2020 the Company's liabilities exceeded its total assets by £197,499 indicating that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 29 September 2021 by Graham Wintle (Senior Statutory Auditor) on behalf of WMT LLP.

 
Page 4