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REGISTERED NUMBER: 12914413 (England and Wales)















Unaudited Financial Statements

for the Period 1 October 2021 to 31 March 2023

for

We are TALA Limited

We are TALA Limited (Registered number: 12914413)






Contents of the Financial Statements
for the period 1 October 2021 to 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


We are TALA Limited

Company Information
for the period 1 October 2021 to 31 March 2023







DIRECTORS: G M Beverley
M H Fowles





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
England
WC2H 9JQ





REGISTERED NUMBER: 12914413 (England and Wales)





ACCOUNTANTS: Flinder Effect Limited
Certified Chartered Accountants (ACCA)
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

We are TALA Limited (Registered number: 12914413)

Statement of Financial Position
31 March 2023

31/3/23 30/9/21
Notes £ £
FIXED ASSETS
Tangible assets 5 14,009 9,168

CURRENT ASSETS
Stocks 2,107,329 1,135,554
Debtors 6 890,387 1,357,386
Cash at bank 3,432,121 191,887
6,429,837 2,684,827
CREDITORS
Amounts falling due within one year 7 (1,174,199 ) (3,218,808 )
NET CURRENT ASSETS/(LIABILITIES) 5,255,638 (533,981 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,269,647

(524,813

)

CREDITORS
Amounts falling due after more than one year 8 (5,311,347 ) -

PROVISIONS FOR LIABILITIES (1,611 ) -
NET LIABILITIES (43,311 ) (524,813 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (43,312 ) (524,814 )
(43,311 ) (524,813 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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.

We are TALA Limited (Registered number: 12914413)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





M H Fowles - Director


We are TALA Limited (Registered number: 12914413)

Notes to the Financial Statements
for the period 1 October 2021 to 31 March 2023

1. STATUTORY INFORMATION

We are TALA Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
Whilst the balance sheet shows a net liability position, the Directors are of the view that the Company can meet all liabilities as they become due and therefore preparing the financial statements under the going concern principal is appropriate.

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 4 years
Computer equipment - Straight line over 3 years

Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs, which comprise direct production costs, are based on the weighted average basis.

We are TALA Limited (Registered number: 12914413)

Notes to the Financial Statements - continued
for the period 1 October 2021 to 31 March 2023

3. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value if the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute and financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditor are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the period 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 statement of financial position date.


We are TALA Limited (Registered number: 12914413)

Notes to the Financial Statements - continued
for the period 1 October 2021 to 31 March 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 19 (2021 - 6 ) .

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 October 2021 - 11,529 11,529
Additions 2,208 20,402 22,610
Disposals - (638 ) (638 )
At 31 March 2023 2,208 31,293 33,501
DEPRECIATION
At 1 October 2021 - 2,361 2,361
Charge for period 238 17,170 17,408
Eliminated on disposal - (277 ) (277 )
At 31 March 2023 238 19,254 19,492
NET BOOK VALUE
At 31 March 2023 1,970 12,039 14,009
At 30 September 2021 - 9,168 9,168

We are TALA Limited (Registered number: 12914413)

Notes to the Financial Statements - continued
for the period 1 October 2021 to 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 30/9/21
£ £
Trade debtors 79,303 400
Other debtors 811,084 1,356,986
890,387 1,357,386

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 30/9/21
£ £
Bank loans and overdrafts 116 121
Trade creditors 436,752 555,163
Taxation and social security 348,673 110,524
Other creditors 388,658 2,553,000
1,174,199 3,218,808

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 30/9/21
£ £
Amounts owed to group undertakings 5,311,347 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/23 30/9/21
£ £
Within one year 57,693 -

10. RELATED PARTY DISCLOSURES

During the year, loans from directors were repaid worth £1,489,086. The balance as at the Balance Sheet date was £0 (2021: £1,489,086).

During the year a loan was received from We Are TALA (Holdings) Limited, at the Balance Sheet date the loan totalled £5,311,347 (2021: £0). The loan is interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The controlling party is We Are TALA Holdings Limited by virtue of share ownership.