P. Taylor Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04733925 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

FOR

P. TAYLOR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Taylor

SECRETARY:

Mrs M M Tierney

REGISTERED OFFICE:

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

REGISTERED NUMBER:

04733925 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

1,560

2,071

CURRENT ASSETS

Stocks

5

3,500

3,000

Debtors

6

4,281

4,390

Cash at bank and in hand

3,861

6,382

11,642

13,772

CREDITORS

Amounts falling due within one year

7

6,352

6,603

NET CURRENT ASSETS

5,290

7,169

TOTAL ASSETS LESS CURRENT LIABILITIES

6,850

9,240

PROVISIONS FOR LIABILITIES

297

389

NET ASSETS

6,553

8,851

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,453

8,751

SHAREHOLDERS' FUNDS

6,553

8,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 8 November 2021 and were signed by:

P Taylor - Director

1.	STATUTORY INFORMATION

P. Taylor 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.

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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus continuing to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2020

and 30 April 2021

590

15,101

795

16,486

DEPRECIATION

At 1 May 2020

562

13,085

768

14,415

Charge for year

-

504

7

511

At 30 April 2021

562

13,589

775

14,926

NET BOOK VALUE

At 30 April 2021

28

1,512

20

1,560

At 30 April 2020

28

2,016

27

2,071

5.

STOCKS

30/4/21

30/4/20

£

£

Stocks

3,500

3,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/21

30/4/20

£

£

Trade debtors

4,281

4,390

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/21

30/4/20

£

£

Trade creditors

1,821

1,456

Tax

3,583

3,896

Directors' current accounts

143

446

Accruals and deferred income

805

805

6,352

6,603