0 01/11/2022 31/10/2023 2023-10-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-11-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 2862137 2022-11-01 2023-10-31 2862137 2023-10-31 2862137 2022-10-31 2862137 2021-11-01 2022-10-31 2862137 2022-10-31 2862137 2021-10-31 2862137 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 2862137 bus:RegisteredOffice 2022-11-01 2023-10-31 2862137 bus:LeadAgentIfApplicable 2022-11-01 2023-10-31 2862137 bus:Director1 2022-11-01 2023-10-31 2862137 core:IntangibleAssetsOtherThanGoodwill 2023-10-31 2862137 core:FurnitureFittingsToolsEquipment 2023-10-31 2862137 core:WithinOneYear 2023-10-31 2862137 core:WithinOneYear 2022-10-31 2862137 core:ShareCapital 2023-10-31 2862137 core:ShareCapital 2022-10-31 2862137 core:RetainedEarningsAccumulatedLosses 2023-10-31 2862137 core:RetainedEarningsAccumulatedLosses 2022-10-31 2862137 core:IntangibleAssetsOtherThanGoodwill 2022-10-31 2862137 core:IntangibleAssetsOtherThanGoodwill 2022-10-31 2862137 bus:SmallEntities 2022-11-01 2023-10-31 2862137 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 2862137 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 2862137 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 2862137 bus:FullAccounts 2022-11-01 2023-10-31
Company registration number: 2862137
Telltrail Enterprises Limited
Unaudited filleted financial statements
31 October 2023
Telltrail Enterprises Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Telltrail Enterprises Limited
Directors and other information
Director Mr A N Amey
Company number 2862137
Registered office Abacus House
68a North Street
Romford
Essex
RM1 1DA
Accountants Newland Jones Limited
68a North Street
Abacus House
Romford
Essex
RM1 1DA
Telltrail Enterprises Limited
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 4 611,024 600,309
_______ _______
611,024 600,309
Current assets
Debtors 6 7,266 7,278
Cash at bank and in hand 407 456
_______ _______
7,673 7,734
Creditors: amounts falling due
within one year 7 ( 64,417) ( 48,167)
_______ _______
Net current liabilities ( 56,744) ( 40,433)
_______ _______
Total assets less current liabilities 554,280 559,876
_______ _______
Net assets 554,280 559,876
_______ _______
Capital and reserves
Called up share capital 300 300
Profit and loss account 553,980 559,576
_______ _______
Shareholders funds 554,280 559,876
_______ _______
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr A N Amey
Director
Company registration number: 2862137
Telltrail Enterprises Limited
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Abacus House, 68a North Street, Romford, Essex, RM1 1DA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Trademarks
Trademarks are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.
Website Costs
Website costs are valued at cost less accumulated amortisation. Website costs will be amortised once it has been brought into use. Amortisation is calculated to write off the cost at 15% reducing balance per annum.
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
4. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 November 2022 601,109 601,109
Additions 10,715 10,715
_______ _______
At 31 October 2023 611,824 611,824
_______ _______
Amortisation
At 1 November 2022 and 31 October 2023 800 800
_______ _______
Carrying amount
At 31 October 2023 611,024 611,024
_______ _______
At 31 October 2022 600,309 600,309
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 November 2022 and 31 October 2023 19,408 19,408
_______ _______
Depreciation
At 1 November 2022 and 31 October 2023 19,408 19,408
_______ _______
Carrying amount
At 31 October 2023 - -
_______ _______
At 31 October 2022 - -
_______ _______
6. Debtors
2023 2022
£ £
Other debtors 7,266 7,278
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 64,417 48,167
_______ _______
8. Directors advances, credits and guarantees
The balance owing to the director at the year end was as follows: Mr A N Amey £63,397 (2022 - £46, 967).
9. Controlling party
The controlling party is Mr A N Amey by virtue of his ownership of 100% of the issued share capital in the company.