REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Talking Wills & Trusts Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Talking Wills & Trusts Limited |
Talking Wills & Trusts Limited (Registered number: 10265308) |
Contents of the Financial Statements |
for the year ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Talking Wills & Trusts Limited |
Company Information |
for the year ended 31 July 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Talking Wills & Trusts Limited (Registered number: 10265308) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Talking Wills & Trusts Limited (Registered number: 10265308) |
Notes to the Financial Statements |
for the year ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Talking Wills & Trusts Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency of the financial statements is GBP (£) and have been prepared to the nearest whole £. |
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 |
Office equipment - 20% | On a reducing balance basis |
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. |
Taxation |
Taxation for the year 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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. |
Talking Wills & Trusts Limited (Registered number: 10265308) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
In the company's financial statements, cash and cash equivalents includes cash on hand and deposits held with banks. |
Trade and other debtors |
Trade and other debtors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method. |
Trade and other creditors |
Trade and other creditors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method. |
Going concern |
the financial statements have been prepared on the going concern basis as the directors and other financiers have expressed their willingness to support the business for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Talking Wills & Trusts Limited (Registered number: 10265308) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | OTHER FINANCIAL COMMITMENTS |
HMRC have opened an enquiry and raised assessments on the company tax affairs. The assessments have been appealed and the collection of the tax postponed. It is not possible to predict with certainty the outcome of this enquiry, however, it is the opinion of the Director and his professional advisors that the outcome is highly likely to fall in the Company's favour and therefore no provision has been included in these financial statements. |
By a Deed the company adhered to a commercial incentive scheme under trust. During the accounting period the company contributed £81,000 (2022:£NIL) to the Scheme. No taxation liability arose to the company as a result of such transaction. |
8. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, included within debtors is an amount of £380 (2022: £980), due from Mr A Batton, a director of the company. |
As at the balance sheet date, included within other creditors is an amount of £36,037 (2022: £9,925), due to Trustdocs Ltd, a related party of the company. |