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REGISTERED NUMBER: SC136912 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 October 2017

for

Thomas Taylor (Bowls) Limited
Thomas Taylor (Bowls) Limited (Registered number: SC136912)






Contents of the Financial Statements
for the Year Ended 31 October 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Thomas Taylor (Bowls) Limited

Company Information
for the Year Ended 31 October 2017







DIRECTORS: G Heron
Ms V Goldie





REGISTERED OFFICE: 217 Bernard Street
Glasgow
G40 3NB





REGISTERED NUMBER: SC136912 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Balance Sheet
31 October 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 809,019 858,626
Investments 6 8 8
809,027 858,634

CURRENT ASSETS
Stocks 812,674 913,206
Debtors 7 1,006,538 1,035,239
Cash in hand 200 200
1,819,412 1,948,645
CREDITORS
Amounts falling due within one year 8 605,124 657,825
NET CURRENT ASSETS 1,214,288 1,290,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,023,315

2,149,454

CREDITORS
Amounts falling due after more than one
year

9

(18,641

)

(32,615

)

PROVISIONS FOR LIABILITIES (15,237 ) (21,362 )

ACCRUALS AND DEFERRED INCOME (41,858 ) (48,184 )
NET ASSETS 1,947,579 2,047,293

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Capital redemption reserve 225,000 225,000
Retained earnings 1,472,579 1,572,293
SHAREHOLDERS' FUNDS 1,947,579 2,047,293
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Balance Sheet - continued
31 October 2017


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 6 July 2018 and were signed on its behalf by:





G Heron - Director

Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Notes to the Financial Statements
for the Year Ended 31 October 2017

1. STATUTORY INFORMATION

Thomas Taylor (Bowls) Limited is a private company, limited by shares , registered in Scotland. 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
The company has adopted FRS 102 for the year ended 31 October 2017 and has restated the comparative prior
year amounts. The transition to the new standard has not resulted in any changes to the accounting policies used
previously. The amounts stated under FRS 102 for both profit and loss for the year ended 31 October 2016 and
balance sheet equity at 31 October 2016 remain the same as those stated under former UK GAAP.

Preparation of consolidated financial statements
The financial statements contain information about Thomas Taylor (Bowls) 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.

Significant judgements and estimates
In preparing the financial statements, management is required to make judgements, estimates and assumptions,
based on historical experience and other relevant factors. Actual results may differ from these best estimates,
which are reviewed on an ongoing basis.

The significant items in the financial statements where these judgements are required (and the factors in play)
include debtors (likelihood of recovery), fixed assets (depreciation rates & useful lives), stock obsolescence and
the going concern basis of accounting.

Turnover
Turnover derived from ordinary activities is measured at the fair value of consideration received or receivable
and represents the net sales of goods (excluding value added tax, sales discounts and rebates) after adjusting for
work in progress. It is recognised when the company becomes entitled to the income.

Goodwill
Goodwill, being the amounts paid in connection with the acquisition of businesses in 2000 & 2006 was written
off evenly over the estimated useful lives of the acquisitions, considered to be seven years. Goodwill paid on the
acquisition of both businesses was fully depreciated in prior years.

Tangible fixed assets
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.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on reducing balance

Government grants
Grants received in relation to specific capital expenditure are credited to a deferred income account and released
to the profit and loss account over the useful lives of the assets to which they relate.

Grants in relation to revenue expenditure are released to the profit and loss account on receipt.
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Cost is determined on a "first in first out" basis, and includes all direct costs incurred plus attributable production
overheads. Net realisable value is based on estimated selling price, allowing for all further costs of completion
and disposal.

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of; cash at bank,
debtors and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with
banks and other short-term highly liquid investments with original maturities of three months or less and bank
overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using
the effective interest method, less losses for bad debts except where the effective of discounting would be
immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using
the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other
creditors are stated at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

Employee benefits
The total cost of employee benefits to which employees have become entitled as a result of service rendered to
the entity during the reporting period are recognised and charged to the profit and loss account in the period to
which they relate.

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past
event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be
estimated reliably. The provision is subsequently measured by placing a charge against the provision only for
expenditure for which the provision was originally recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2016 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2016
and 31 October 2017 287,306
AMORTISATION
At 1 November 2016
and 31 October 2017 287,306
NET BOOK VALUE
At 31 October 2017 -
At 31 October 2016 -
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2016 598,320 1,553,959 2,152,279
Additions - 16,743 16,743
At 31 October 2017 598,320 1,570,702 2,169,022
DEPRECIATION
At 1 November 2016 123,128 1,170,525 1,293,653
Charge for year 5,232 61,118 66,350
At 31 October 2017 128,360 1,231,643 1,360,003
NET BOOK VALUE
At 31 October 2017 469,960 339,059 809,019
At 31 October 2016 475,192 383,434 858,626

Amounts reflected as "land & buildings" relate to long leasehold property.

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

Plant and
machinery
etc
£   
COST
At 1 November 2016 124,292
Transfer to ownership (27,224 )
At 31 October 2017 97,068
DEPRECIATION
At 1 November 2016 11,573
Charge for year 12,824
At 31 October 2017 24,397
NET BOOK VALUE
At 31 October 2017 72,671
At 31 October 2016 112,719
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2016
and 31 October 2017 8
NET BOOK VALUE
At 31 October 2017 8
At 31 October 2016 8

7. DEBTORS
2017 2016
£    £   
Amounts falling due within one year:
Trade debtors 178,042 211,399
Other debtors 822,246 817,590
1,000,288 1,028,989

Amounts falling due after more than one year:
Other debtors 6,250 6,250

Aggregate amounts 1,006,538 1,035,239

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 215,289 395,442
Hire purchase contracts (see note 10) 13,974 13,974
Trade creditors 211,166 160,484
Taxation and social security 53,169 33,460
Other creditors 111,526 54,465
605,124 657,825

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Hire purchase contracts (see note 10) 18,641 32,615
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2017 2016
£    £   
Gross obligations repayable:
Within one year 15,579 15,579
Between one and five years 20,852 36,431
36,431 52,010

Finance charges repayable:
Within one year 1,605 1,605
Between one and five years 2,211 3,816
3,816 5,421

Net obligations repayable:
Within one year 13,974 13,974
Between one and five years 18,641 32,615
32,615 46,589

Non-cancellable operating
leases
2017 2016
£    £   
Within one year 24,235 30,195
Between one and five years 44,043 42,468
In more than five years 464,800 399,000
533,078 471,663

11. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank overdrafts 215,289 395,442
Hire purchase contracts 32,615 46,589
247,904 442,031

The bank overdraft is secured by a standard security over the lease of the property at 217 Bernard Street,
Glasgow, together with a bond and floating charge over the assets of the company, both in favour of the Bank of
Scotland plc.

Liabilities under hire purchase contracts are secured over the assets concerned.
Thomas Taylor (Bowls) Limited (Registered number: SC136912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

12. CAPITAL COMMITMENTS
2017 2016
£    £   
Contracted but not provided for in the
financial statements 24,900 -

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2017 and
31 October 2016:

2017 2016
£    £   
G Heron
Balance outstanding at start of year 7,000 7,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,000 7,000

Interest is no longer charged on the outstanding balance and totals £Nil (2016 - £Nil) for the year under review.
Repayments totalling £2,000 are anticipated in the year ending 31 October 2018, with the balance payable
between one and five years.

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £3,995 (2016 - £3,995) were paid to the directors .

The company has taken advantage of exemption under the terms of FRS 102 not to disclose related party
transactions with wholly owned subsidiaries within the group.

Short-term loans totalling £29,000 were made to the company by Mr G Heron & Mr I Urquhart (both directors of
the company) in February 2017 which were repaid by the company over the course of the next six months.
Interest totalling £2,037 (2016 - £Nil) was paid on these advances.

In addition, the shareholders identified elsewhere within these financial statements as the ultimate controlling
parties advanced £50,000 to the company in June 2017. No interest has yet been paid on this loan, which is
considered to be repayable on demand.

15. ULTIMATE CONTROLLING PARTY

At 31 October 2017, Mr. A W Heron and Mrs. J. Heron are considered to be the ultimate controlling parties by
virtue of a joint controlling interest of 92% (2016 - 88%) in the company.

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