The Taylor Clarke Partnership Limited - Accounts to registrar (filleted) - small 23.1.2

THE TAYLOR CLARKE PARTNERSHIP LIMITED - Company Information

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REGISTERED NUMBER: SC135704 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

The Taylor Clarke Partnership Limited

Page

Company Information

Abridged Statement of Financial Position

Notes to the Financial Statements

Chartered Accountants' Report

DIRECTORS:

L Clarke

A Houston

S Ballantyne

SECRETARY:

MCM Secretaries Limited

REGISTERED OFFICE:

20-23 Woodside Place

Glasgow

G3 7QL

REGISTERED NUMBER:

SC135704 (Scotland)

ACCOUNTANTS:

AMAS Murrison Limited

Chartered Accountants

10 Newton Terrace

Charing Cross

Glasgow

G3 7PJ

FIXED ASSETS

Intangible assets

Tangible assets

489

CURRENT ASSETS

Debtors

139,297

121,387

Cash at bank and in hand

190,200

125,622

329,497

247,009

CREDITORS

Amounts falling due within one year

206,362

155,693

NET CURRENT ASSETS

123,135

91,316

TOTAL ASSETS LESS CURRENT
LIABILITIES

123,206

91,805

CREDITORS

Amounts falling due after more than one
year

(29,534

)

(40,000

)

PROVISIONS FOR LIABILITIES

(1,371

)

NET ASSETS

93,672

50,434

CAPITAL AND RESERVES

Called up share capital

18,882

Share premium

23,281

Capital redemption reserve

3,655

Other reserves

(39,604

)

(39,604

)

Retained earnings

87,458

44,220

SHAREHOLDERS' FUNDS

93,672

50,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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 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 Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2023 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.

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 5 (2021 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

COST

At 1 January 2022

and 31 December 2022

21,600

AMORTISATION

At 1 January 2022

and 31 December 2022

21,600

NET BOOK VALUE

At 31 December 2022

At 31 December 2021

5.	TANGIBLE FIXED ASSETS

Totals

COST

At 1 January 2022

and 31 December 2022

27,875

DEPRECIATION

At 1 January 2022

27,385

Charge for year

419

At 31 December 2022

27,804

NET BOOK VALUE

At 31 December 2022

At 31 December 2021

490

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

12,500

Ordinary A

£1

12,500

6,382

Ordinary B

£1

6,382

18,882

RESERVES

Capital

Retained

redemption

Other

earnings

premium

reserve

reserves

Totals

At 1 January 2022

44,220

23,281

3,655

(39,604

)

31,552

Profit for the year

43,238

At 31 December 2022

87,458

23,281

3,655

(39,604

)

74,790

8.	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 £85 (2021: £85) which is held on behalf of The Taylor Clarke Partnership Limited Employee Benefit Trust.

9.	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.

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 2022 which comprise the Abridged Income Statement, 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.

AMAS Murrison Limited

Chartered Accountants

10 Newton Terrace

Charing Cross

Glasgow

G3 7PJ

17 September 2023