R & S Taylor Limited - Period Ending 2017-04-30

Registration number: 05956095

R & S Taylor Limited

Unaudited Abbreviated Accounts

for the Period from 1 November 2015 to 30 April 2017

 

HCB Accountants (Sterling) Limited
The Old Bank Chambers
27 Lincoln Croft
Shenstone
Lichfield
WS14 0ND

R & S Taylor Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

R & S Taylor Limited
(Registration number: 05956095)
Abbreviated Balance Sheet at 30 April 2017

		Note			30 April 2017 £			31 October 2015 £
Fixed assets
Tangible fixed assets					-			182
Current assets
Stocks					-			1,000
Debtors					162			-
Cash at bank and in hand					2,212			3,167
					2,374			4,167
Creditors: Amounts falling due within one year					(2,372)			(4,004)
Net current assets					2			163
Net assets					2			345
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					-			343
Shareholders' funds					2			345

For the year ending 30 April 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 21 July 2017

.........................................
Mr Robert Stephen Taylor
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

R & S Taylor Limited
Notes to the Abbreviated Accounts for the Period from 1 November 2015 to 30 April 2017
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

Amortisation

Goodwill is amortised in equal instalments over its estimated useful life, except where it has been identified as
impaired in the period, in which case it is written down as appropriate.

Asset class	Amortisation method and rate
Positive Goodwill	20% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	25% Straight Line
Motor Vehicles	33% Straight Line
Office Equipment	33% Straight Line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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R & S Taylor Limited
Notes to the Abbreviated Accounts for the Period from 1 November 2015 to 30 April 2017
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2015		12,200			8,599			20,799
Disposals		(12,200)			(8,599)			(20,799)
At 30 April 2017		-			-			-
Depreciation
At 1 November 2015		12,200			8,417			20,617
Eliminated on disposals		(12,200)			(8,417)			(20,617)
At 30 April 2017		-			-			-
Net book value
At 30 April 2017		-			-			-
At 31 October 2015		-			182			182

3	Share capital

Allotted, called up and fully paid shares

	30 April 2017						31 October 2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

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