Caseware UK (AP4) 2023.0.135 2023.0.135 2023-02-282023-02-282022-03-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10886947 2022-03-01 2023-02-28 10886947 2021-03-01 2022-02-28 10886947 2023-02-28 10886947 2022-02-28 10886947 c:Director1 2022-03-01 2023-02-28 10886947 d:CurrentFinancialInstruments 2023-02-28 10886947 d:CurrentFinancialInstruments 2022-02-28 10886947 d:Non-currentFinancialInstruments 2023-02-28 10886947 d:Non-currentFinancialInstruments 2022-02-28 10886947 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 10886947 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 10886947 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 10886947 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 10886947 d:ShareCapital 2023-02-28 10886947 d:ShareCapital 2022-02-28 10886947 d:RetainedEarningsAccumulatedLosses 2023-02-28 10886947 d:RetainedEarningsAccumulatedLosses 2022-02-28 10886947 c:FRS102 2022-03-01 2023-02-28 10886947 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 10886947 c:FullAccounts 2022-03-01 2023-02-28 10886947 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 10886947 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 10886947 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 10886947 e:PoundSterling 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 10886947










TALBOT HOMES (PRIORS MARSTON) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
TALBOT HOMES (PRIORS MARSTON) LIMITED
REGISTERED NUMBER: 10886947

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
815,530
815,530

Debtors: amounts falling due within one year
 5 
312,033
309,461

  
1,127,563
1,124,991

Creditors: amounts falling due within one year
 7 
(1,193,384)
(1,174,363)

Net current liabilities
  
 
 
(65,821)
 
 
(49,372)

Total assets less current liabilities
  
(65,821)
(49,372)

Creditors: amounts falling due after more than one year
 8 
(27,290)
(37,290)

  

Net liabilities
  
(93,111)
(86,662)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(93,112)
(86,663)

  
(93,111)
(86,662)


Page 1

 
TALBOT HOMES (PRIORS MARSTON) LIMITED
REGISTERED NUMBER: 10886947
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D E Vercoe
Director

Date: 23 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TALBOT HOMES (PRIORS MARSTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Talbot Homes (Priors Marston) Limited (10886947) is a private company limited by shares. It is incorporated in England & Wales. The registered office is Unit 3a, Manor Business Park Grants Hill Way, Woodford Halse, Daventry, Northamptonshire, United Kingdom, NN11 3UB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
TALBOT HOMES (PRIORS MARSTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Work in progress

Work in progress is valued at the end of each period and assessed for impairment.  Work in progress includes all attributable costs of development.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
TALBOT HOMES (PRIORS MARSTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Stocks

2023
2022
£
£

Work in progress
815,530
815,530



5.


Debtors

2023
2022
£
£


Other debtors
282,693
281,718

Deferred taxation
29,340
27,743

312,033
309,461



6.


Cash and cash equivalents

2023
2022
£
£

Less: bank overdrafts
(814)
(819)

(814)
(819)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
814
819

Bank loans
552,360
563,520

Trade creditors
111,266
107,810

Amounts owed to group undertakings
463,002
436,273

Other taxation and social security
455
455

Other creditors
61,987
61,986

Accruals and deferred income
3,500
3,500

1,193,384
1,174,363


Page 5

 
TALBOT HOMES (PRIORS MARSTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
27,290
37,290


Page 6

 
TALBOT HOMES (PRIORS MARSTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Deferred taxation




2023


£






At beginning of year
27,743


Charged to profit or loss
1,597



At end of year
29,340

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
29,340
27,743

29,340
27,743

 
Page 7