2023-01-012023-12-312023-12-31false06448206Talacom 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Talacom Limited

Registered Number
06448206
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Talacom Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Andrew Baud

Registered Address

Saddlers House
High Street
Bloxham
OX15 4LU

Registered Number

06448206 (England and Wales)
Talacom Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets38,4669,922
8,4669,922
Current assets
Debtors380,59593,868
Cash at bank and on hand65,085104,160
445,680198,028
Creditors amounts falling due within one year5(234,162)(204,714)
Net current assets (liabilities)211,518(6,686)
Total assets less current liabilities219,9843,236
Creditors amounts falling due after one year6(210,754)-
Net assets9,2303,236
Capital and reserves
Called up share capital590590
Profit and loss account8,6402,646
Shareholders' funds9,2303,236
The financial statements were approved and authorised for issue by the Director on 5 February 2024, and are signed on its behalf by:
Andrew Baud
Director
Registered Company No. 06448206
Talacom Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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 rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20232022
Average number of employees during the year1312
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 2312,75216,46529,217
Additions-3,6053,605
At 31 December 2312,75220,07032,822
Depreciation and impairment
At 01 January 2310,7718,52419,295
Charge for year7104,3515,061
At 31 December 2311,48112,87524,356
Net book value
At 31 December 231,2717,1958,466
At 31 December 221,9817,9419,922
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables372,11888,872
Prepayments and accrued income8,4774,996
Total380,59593,868
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables35,39938,723
Bank borrowings and overdrafts28,58338,301
Taxation and social security165,245116,307
Other creditors3,1859,357
Accrued liabilities and deferred income1,7502,026
Total234,162204,714
6.Creditors: amounts due after one year

2023

2022

££
Other creditors210,754-
Total210,754-