Taylor Pearson (Construction) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01188103 (England and Wales)

TAYLOR PEARSON (CONSTRUCTION) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A M Coupland

Mr M J Perkins

Mr M Robertson

SECRETARY:

Mr A M Coupland

REGISTERED OFFICE:

Church Road

Martin Dales

Woodhall Spa

Lincolnshire

LN10 6XZ

REGISTERED NUMBER:

01188103 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

Rollestone House

20-22 Bridge Street

Horncastle

Lincolnshire

LN9 5HZ

FIXED ASSETS

Property, plant and equipment

4

439,858

385,738

CURRENT ASSETS

Inventories

712,580

165,841

Debtors

1,089,787

858,073

Cash at bank and in hand

2,528

14,878

1,804,895

1,038,792

CREDITORS

Amounts falling due within one year

1,750,036

1,035,204

NET CURRENT ASSETS

54,859

3,588

TOTAL ASSETS LESS CURRENT LIABILITIES

494,717

389,326

CREDITORS

Amounts falling due after more than one year

(54,096

)

(21,395

)

PROVISIONS FOR LIABILITIES

(34,361

)

(23,890

)

NET ASSETS

406,260

344,041

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Share premium

9,191

9,191

Retained earnings

392,069

329,850

SHAREHOLDERS' FUNDS

406,260

344,041

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 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 on 20 December 2017 and were signed on its behalf by:

Mr M Robertson - Director

1.	STATUTORY INFORMATION

Taylor Pearson (Construction) Ltd 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.

Preparation of consolidated financial statements

The company and its parent comprise a small group. The company has taken advantage of the exemption provided by section 398 of the

Companies Act 2006 not to prepare group accounts. The financial statements therefore present information about the Company as an

individual undertaking and not about its group.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, after adjusting for the net movement in work in

progress.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

5% on reducing balance

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Inventories

Work in progress is valued at the lower of cost and net realisable value by chartered surveyors who issue valuation certificates.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

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 52 (2016 - 47 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 April 2016

623,311

Additions

97,757

Disposals

(28,726

)

At 31 March 2017

692,342

DEPRECIATION

At 1 April 2016

237,573

Charge for year

38,693

Eliminated on disposal

(23,782

)

At 31 March 2017

252,484

NET BOOK VALUE

At 31 March 2017

439,858

At 31 March 2016

385,738

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2016

35,731

Additions

73,228

At 31 March 2017

108,959

DEPRECIATION

At 1 April 2016

15,180

Charge for year

15,232

At 31 March 2017

30,412

NET BOOK VALUE

At 31 March 2017

78,547

At 31 March 2016

20,551

5.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

263,273

240,116

Hire purchase contracts

79,841

33,444

343,114

273,560

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Taylor Pearson Holdings Ltd.

7.	TRANSITION TO FRS 102

This is the first year in which the financial statements have been prepared under FRS 102 1A. The transition to FRS 102 1A on 01 April

2015 had no effect on the income statement or statement of financial position.