back to A.J.A. TAYLOR AND COMPANY LIMITED detail AJA Taylor & Co Ltd - Filleted accounts
Registered number
00180738
AJA Taylor & Co Ltd
Filleted Accounts
31 March 2017
AJA Taylor & Co Ltd
Registered number: 00180738
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 69,383 69,691
Investments 3 17,500 17,500
86,883 87,191
Current assets
Stocks 1,676,404 1,987,729
Debtors 4 773,460 202,576
Cash at bank and in hand 955,290 -
3,405,154 2,190,305
Creditors: amounts falling due within one year 5 (530,899) (278,652)
Net current assets 2,874,255 1,911,653
Total assets less current liabilities 2,961,138 1,998,844
Creditors: amounts falling due after more than one year 6 (1,691,173) (1,157,957)
Net assets 1,269,965 840,887
Capital and reserves
Called up share capital 12,300 12,300
Share premium 9,120 9,120
Revaluation reserve 7 37,927 37,927
Profit and loss account 1,210,618 781,540
Shareholders' funds 1,269,965 840,887
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
JS Taylor
Director
Approved by the board on 21 November 2017
AJA Taylor & Co Ltd
Notes to the Accounts
for the year ended 31 March 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2016 68,150 35,682 103,832
At 31 March 2017 68,150 35,682 103,832
Depreciation
At 1 April 2016 - 34,141 34,141
Charge for the year - 308 308
At 31 March 2017 - 34,449 34,449
Net book value
At 31 March 2017 68,150 1,233 69,383
At 31 March 2016 68,150 1,541 69,691
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2016 17,500
At 31 March 2017 17,500
4 Debtors 2017 2016
£ £
Trade debtors 765,000 190,000
Other debtors 8,460 12,576
773,460 202,576
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 97,714 169,279
Taxation and social security costs 409,353 99,152
Other creditors 23,832 10,221
530,899 278,652
6 Creditors: amounts falling due after one year 2017 2016
£ £
Bank loans 1,691,173 1,140,788
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 17,169
1,691,173 1,157,957
7 Revaluation reserve 2017 2016
£ £
At 1 April 2016 37,927 27,767
Gain on revaluation of land and buildings - 10,160
At 31 March 2017 37,927 37,927
8 Other information
AJA Taylor & Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1a Eastbury Road
Northwood
Middlesex
HA6 3BG
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