TAYLOR MILBURN LIMITED - Accounts to registrar - small 17.1

REGISTERED NUMBER: 07885154 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

TAYLOR MILBURN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Kilkelly

M D Wood

J R Fisher

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

07885154 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

8,660

3,331

CURRENT ASSETS

Work in progress

35,770

16,559

Debtors

5

50,485

71,286

Cash at bank and in hand

13,836

23,351

100,091

111,196

CREDITORS

Amounts falling due within one year

6

56,152

56,084

NET CURRENT ASSETS

43,939

55,112

TOTAL ASSETS LESS CURRENT LIABILITIES

52,599

58,443

CREDITORS

Amounts falling due after more than one year

7

12,618

20,834

NET ASSETS

39,981

37,609

CAPITAL AND RESERVES

Called up share capital

202

202

Retained earnings

9

39,779

37,407

SHAREHOLDERS' FUNDS

39,981

37,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 20 June 2017 and were signed on its behalf by:

J R Fisher - Director

P A Kilkelly - Director

1.	STATUTORY INFORMATION

Taylor Milburn 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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Furniture and equipment

-

20% on reducing balance

Motor vehicle

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing work in progress to their present location and condition.

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	TANGIBLE FIXED ASSETS

Furniture

and

Motor

Computer

equipment

vehicle

equipment

Totals

£

£

£

£

COST

At 1 April 2016

4,149

-

2,786

6,935

Additions

-

8,500

-

8,500

At 31 March 2017

4,149

8,500

2,786

15,435

DEPRECIATION

At 1 April 2016

1,610

-

1,994

3,604

Charge for year

508

2,125

538

3,171

At 31 March 2017

2,118

2,125

2,532

6,775

NET BOOK VALUE

At 31 March 2017

2,031

6,375

254

8,660

At 31 March 2016

2,539

-

792

3,331

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

9,983

8,443

Intercompany account

- Taylor Milburn Financial LLP

22,644

43,842

Prepayments

17,858

19,001

50,485

71,286

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

12,500

12,500

Hire purchase contracts

2,091

-

Trade creditors

8,820

8,786

Tax

11,915

12,928

Social security and other taxes

8,417

2,564

VAT

5,287

3,704

Directors' current accounts

4,122

12,874

Accrued expenses

3,000

2,728

56,152

56,084

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loan

8,334

20,834

Hire purchase contracts

4,284

-

12,618

20,834

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

20,834

33,334

Hire purchase contracts

6,375

-

27,209

33,334

The bank loan is secured by a fixed and floating charge over the assets of the company. The hire purchase is

secured against the asset to which it relates.

9.

RESERVES

Retained

earnings

£

At 1 April 2016

37,407

Profit for the year

44,372

Dividends

(42,000

)

At 31 March 2017

39,779

10.	RELATED PARTY DISCLOSURES

£22,644 is due from Taylor Milburn Financial LLP (2016: £43,842) of which Taylor Milburn Limited is a

designated member.