T.M. Taylor & Sons Limited - Accounts to registrar - small 16.3d

T.M. Taylor & Sons Limited - Accounts to registrar - small 16.3d

T.M. TAYLOR & SONS LIMITED - Company Information

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REGISTERED NUMBER: 02762326 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

T.M. TAYLOR & SONS LIMITED

T.M. TAYLOR & SONS LIMITED (REGISTERED NUMBER: 02762326)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


T.M. TAYLOR & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTORS: M R Taylor
D J Taylor
Mrs K Booker
C R Taylor



SECRETARY: Bright Brown Services Limited



REGISTERED OFFICE: Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ



REGISTERED NUMBER: 02762326 (England and Wales)



ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ



BANKERS: NatWest
104 High Street
Cowes
Isle of Wight
PO31 7AU
Page 1
T.M. TAYLOR & SONS LIMITED (REGISTERED NUMBER: 02762326)

BALANCE SHEET
31 MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,654 27,289

CURRENT ASSETS
Stocks 894,146 892,532
Debtors 5 5,127 8,171
Cash in hand 3,281 1,677
902,554 902,380
CREDITORS
Amounts falling due within one year 6 214,547 263,923
NET CURRENT ASSETS 688,007 638,457
TOTAL ASSETS LESS CURRENT
LIABILITIES
714,661
665,746

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 711,661 662,746
SHAREHOLDERS' FUNDS 714,661 665,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 notes form part of these financial statements

Page 2 continued...
T.M. TAYLOR & SONS LIMITED (REGISTERED NUMBER: 02762326)

BALANCE SHEET - continued
31 MARCH 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 December 2016 and were signed on its behalf
by:





M R Taylor - Director


The notes form part of these financial statements

Page 3
T.M. TAYLOR & SONS LIMITED (REGISTERED NUMBER: 02762326)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016


1. STATUTORY INFORMATION

T.M. Taylor & Sons 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.
Land and buildings - Straight line over 3 - 50 years
Plant and machinery etc - Straight line over 1 to 10 years

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

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

Page 4 continued...
T.M. TAYLOR & SONS LIMITED (REGISTERED NUMBER: 02762326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2015 37,170 26,562 63,732
Additions - 990 990
At 31 March 2016 37,170 27,552 64,722
DEPRECIATION
At 1 April 2015 11,263 25,180 36,443
Charge for year 507 1,118 1,625
At 31 March 2016 11,770 26,298 38,068
NET BOOK VALUE
At 31 March 2016 25,400 1,254 26,654
At 31 March 2015 25,907 1,382 27,289

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 722 989
Other debtors 4,405 7,182
5,127 8,171

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 55,094 54,350
Trade creditors 119,361 186,652
Taxation and social security 36,461 18,630
Other creditors 3,631 4,291
214,547 263,923

Page 5 continued...
T.M. TAYLOR & SONS LIMITED (REGISTERED NUMBER: 02762326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


7. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Bank overdrafts 55,094 54,350

Page 6