Company registration number 08085684 (England and Wales)
A & J Talbot Holdings Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 28 February 2024
PAGES FOR FILING WITH REGISTRAR
A & J Talbot Holdings Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
A & J Talbot Holdings Limited
Statement Of Financial Position
as at 28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,289
1,610
Investment property
5
1,338,828
767,161
Investments
6
160,000
160,000
1,500,117
928,771
Current assets
Debtors
7
5,503
6,261
Cash at bank and in hand
347,024
770,967
352,527
777,228
Creditors: amounts falling due within one year
8
(87,867)
(102,296)
Net current assets
264,660
674,932
Net assets
1,764,777
1,603,703
Capital and reserves
Called up share capital
9
160,000
160,000
Profit and loss reserves
1,604,777
1,443,703
Total equity
1,764,777
1,603,703
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 by the board of directors and authorised for issue on 23 July 2024 and are signed on its behalf by:
A J Talbot
Director
Company registration number 08085684 (England and Wales)
A & J Talbot Holdings Limited
Notes to the financial statements
for the year ended 28 February 2024
- 2 -
1
Accounting policies
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Group accounts
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Turnover
Turnover represents rents receivable during the year and derives from the provision of services falling within the company's ordinary activities. Rental income from operating leases is recognised as turnover over the plant hire period. Rent from properties is recognised as turnover evenly on an accruals basis, provisions being made for any rents received in respect of future periods.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation and any impairment losses.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% reducing balance
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
A & J Talbot Holdings Limited
Notes to the financial statements (continued)
for the year ended 28 February 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
4,638
969
4
Tangible fixed assets
Plant and machinery
£
Cost
At 1 March 2023 and 28 February 2024
15,000
Depreciation and impairment
At 1 March 2023
13,389
Depreciation charged in the year
322
At 28 February 2024
13,711
Carrying amount
At 28 February 2024
1,289
At 28 February 2023
1,610
5
Investment property
2024
£
Fair value
At 1 March 2023
767,161
Additions
571,667
At 28 February 2024
1,338,828
The director considers that the present fair value of the property is not materially different to its cost of acquisition.
A & J Talbot Holdings Limited
Notes to the financial statements (continued)
for the year ended 28 February 2024
- 4 -
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
160,000
160,000
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,003
1,801
Prepayments and accrued income
960
2,003
2,761
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
3,500
3,500
Total debtors
5,503
6,261
8
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,638
969
Other taxation and social security
65
Other creditors
82,029
100,062
Accruals and deferred income
1,200
1,200
87,867
102,296
9
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary A shares of £1 each
120,000
120,000
Ordinary B shares of £1 each
20,000
20,000
Ordinary C shares of £1 each
20,000
20,000
160,000
160,000
10
Company information
A & J Talbot Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7A Gordon Street, Shaw, Oldham, OL2 8EU.