The Taylor Partnership Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06286333 (England and Wales)

The Taylor Partnership Limited

Unaudited Financial Statements

for the Year Ended 31 July 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTOR:

M P Taylor

SECRETARY:

G Smith

REGISTERED OFFICE:

15-17 Devonshire Street

Keighley

West Yorkshire

BD21 2BH

REGISTERED NUMBER:

06286333 (England and Wales)

ACCOUNTANTS:

Walkers Accountants Limited

Aireside House

Aireside Business Centre

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

FIXED ASSETS

Tangible assets

3

1,559

1,899

Investments

4

1

1

1,560

1,900

CURRENT ASSETS

Debtors

5

23,902

189,568

Cash at bank

175,188

9,348

199,090

198,916

CREDITORS

Amounts falling due within one year

6

2,241

61,227

NET CURRENT ASSETS

196,849

137,689

TOTAL ASSETS LESS CURRENT LIABILITIES

198,409

139,589

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

7

197,409

138,589

SHAREHOLDERS' FUNDS

198,409

139,589

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 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 director on 1 November 2017 and were signed by:

M P Taylor - Director

1.	STATUTORY INFORMATION

The Taylor Partnership 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about The Taylor Partnership Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly

attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the

manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful

lives, using a mixture of methods. The depreciation bases are as detailed above.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are

credited or charged to the income statement.

Impairment of fixed assets

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to

determine whether there is any indication that any items of property, plant and equipment have suffered an

impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to

determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount

of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset

belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the

asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised

estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss

been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income

immediately.

Investments in subsidiaries

Long term investments are classified as fixed assets and are measured at market value at each balance sheet date.

Gains and losses on remeasurement are recognised in the profit or loss for the period. Investments that can not be

reliably valued are measured at costs, together with any additional consideration paid, less provision for

impairment if required.

It is the directors' opinion that the investment in the limited liability partnership can not be reliably measured and

therefore it has been measured at costs, together with any additional consideration paid, less provision for

impairment if required.

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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

7,517

DEPRECIATION

At 1 August 2016

5,618

Charge for year

340

At 31 July 2017

5,958

NET BOOK VALUE

At 31 July 2017

1,559

At 31 July 2016

1,899

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2016

and 31 July 2017

1

NET BOOK VALUE

At 31 July 2017

1

At 31 July 2016

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Other debtors

22,953

19,499

Amounts owed by group

undertakings

744

-

Directors' current accounts

-

169,683

VAT

205

386

23,902

189,568

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Bank loans and overdrafts

-

3

Trade creditors

767

2,459

Tax

4

-

Amounts owed to group company

-

57,890

Directors' current accounts

595

-

Accruals and deferred income

875

875

2,241

61,227

7.

RESERVES

Retained

earnings

£

At 1 August 2016

138,589

Profit for the year

331,820

Dividends

(273,000

)

At 31 July 2017

197,409

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2017 and

31 July 2016:

31.7.17

31.7.16

£

£

M P Taylor

Balance outstanding at start of year

169,684

64,252

Amounts advanced

102,721

175,333

Amounts repaid

(273,000

)

(69,901

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(595

)

169,684

No interest was charged on this loan, nor any security given.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £163,800 were paid to the director .

The Taylor Partnership (Immigration) Limited

A 100% owned subsidiary company.

Included in debtors due within one year, is an interest free loan amounting to £744 (2016: Creditor of £57,890)

made to The Taylor Partnership (Immigration) Limited.

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director 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 Partnership Limited for the year ended 31 July 2017 which comprise the Income

Statement, Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Taylor Partnership Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Taylor Partnership Limited and state those matters that we have agreed to state to the director of The Taylor Partnership Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Taylor Partnership Limited director for our work or for this report.

It is your duty to ensure that The Taylor 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 Partnership Limited. You consider that The Taylor 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 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.

Walkers Accountants Limited

Aireside House

Aireside Business Centre

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

1 November 2017