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Filleted

Registration number: 12838526

Talog Country Retreat Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Talog Country Retreat Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Talog Country Retreat Ltd

Company Information

Directors

Mrs Yovanah Appasamy

Mr Arasen Appasamy

Registered office

Penrhiw Bailey
Talog
Carmarthen
SA33 6PE

 

Talog Country Retreat Ltd

(Registration number: 12838526)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

5,227

7,840

Current assets

 

Debtors

6

9,411

6,833

Cash at bank and in hand

 

5,147

28,715

 

14,558

35,548

Creditors: Amounts falling due within one year

7

(96,713)

(19,726)

Net current (liabilities)/assets

 

(82,155)

15,822

Net (liabilities)/assets

 

(76,928)

23,662

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(76,930)

23,660

Total equity

 

(76,928)

23,662

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 October 2023 and signed on its behalf by:
 

.........................................
Mr Arasen Appasamy
Director

   
     
 

Talog Country Retreat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Penrhiw Bailey
Talog
Carmarthen
SA33 6PE

These financial statements were authorised for issue by the Board on 20 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Talog Country Retreat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Talog Country Retreat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,613

2,613

 

Talog Country Retreat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2022

10,453

10,453

At 31 August 2023

10,453

10,453

Depreciation

At 1 September 2022

2,613

2,613

Charge for the year

2,613

2,613

At 31 August 2023

5,226

5,226

Carrying amount

At 31 August 2023

5,227

5,227

At 31 August 2022

7,840

7,840

6

Debtors

2023
£

2022
£

Trade debtors

-

6,833

Other debtors

9,411

-

9,411

6,833

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Other related parties

 

95,235

13,361

Corporation tax liability

 

3

4,340

Other creditors

 

1,475

2,025

 

96,713

19,726

8

Share capital

Allotted, called up and fully paid shares

 

Talog Country Retreat Ltd

Notes to the Financial Statements for the Year Ended 31 August 2023

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

Related party transactions

Transactions with directors

2023

At 1 September 2022
£

Repayments by director
£

At 31 August 2023
£

Mrs Yovanah Appasamy

Interest free loan with no fixed repayment date

(6,680)

(40,938)

(47,618)

       
     

Mr Arasen Appasamy

Interest free loan with no fixed repayment date

(6,680)

(40,938)

(47,618)

       
     

 

2022

At 1 September 2021
£

Repayments by director
£

At 31 August 2022
£

Mrs Yovanah Appasamy

Interest free loan with no fixed repayment date

(1,844)

(4,836)

(6,680)

       
     

Mr Arasen Appasamy

Interest free loan with no fixed repayment date

(1,844)

(4,836)

(6,680)