Company registration number 02797572 (England and Wales)
TALLIX LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
TALLIX LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
TALLIX LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr G. King
Secretary
Mr T. Giles
Company number
02797572
Registered office
New Forest Enterprise Centre
Chapel Lane
Totton
Hampshire
United Kingdom
S040 9LA
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
TALLIX LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,564
9,624
Current assets
Stocks
33,770
41,050
Debtors
5
133,732
25,512
Cash at bank and in hand
155,390
201,531
322,892
268,093
Creditors: amounts falling due within one year
6
(50,807)
(22,076)
Net current assets
272,085
246,017
Total assets less current liabilities
279,649
255,641
Provisions for liabilities
(1,829)
(1,829)
Net assets
277,820
253,812
Capital and reserves
Called up share capital
142
142
Profit and loss reserves
277,678
253,670
Total equity
277,820
253,812
TALLIX LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 October 2023
Mr G. King
Director
Company Registration No. 02797572
The notes on pages 4 to 7 form part of these financial statements
TALLIX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
1
Accounting policies
Company information
Tallix Limited is a private company limited by shares incorporated in England and Wales. The registered office is New Forest Enterprise Centre, Chapel Lane, Totton, Hampshire, United Kingdom, S040 9LA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is the total amount receivable for goods supplied and services provided, excluding VAT.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account, turnover and related costs as contract activity progresses.
Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% straight line
Fixtures, fittings and equipment
10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
TALLIX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.9
Retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
TALLIX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
54,313
Amortisation and impairment
At 1 May 2022 and 30 April 2023
54,313
Carrying amount
At 30 April 2023
At 30 April 2022
TALLIX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 7 -
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 May 2022
129,920
9,087
139,007
Additions
1,911
1,911
At 30 April 2023
131,831
9,087
140,918
Depreciation and impairment
At 1 May 2022
122,890
6,493
129,383
Depreciation charged in the year
3,738
233
3,971
At 30 April 2023
126,628
6,726
133,354
Carrying amount
At 30 April 2023
5,203
2,361
7,564
At 30 April 2022
7,030
2,594
9,624
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
61,343
19,218
Gross amounts owed by contract customers
70,112
558
Other debtors
1,437
3,035
Prepayments and accrued income
840
2,701
133,732
25,512
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
25,959
2,146
Taxation and social security
22,348
16,692
Other creditors
738
Accruals and deferred income
2,500
2,500
50,807
22,076