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Registered number: 04890639
JTalk Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Whittles LLP
1 Richmond Road
Lytham St Annes
Lancashire
FY8 1PE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04890639
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 85,529 80,043
85,529 80,043
CURRENT ASSETS
Debtors 5 525,564 488,847
Cash at bank and in hand 567,438 566,122
1,093,002 1,054,969
Creditors: Amounts Falling Due Within One Year 6 (512,175 ) (365,975 )
NET CURRENT ASSETS (LIABILITIES) 580,827 688,994
TOTAL ASSETS LESS CURRENT LIABILITIES 666,356 769,037
Creditors: Amounts Falling Due After More Than One Year 7 - (7,664 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,382 ) (15,466 )
NET ASSETS 644,974 745,907
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 644,964 745,897
SHAREHOLDERS' FUNDS 644,974 745,907
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jamie Eborall
Director
28/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JTalk Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04890639 . The registered office is 1-3 Railton Road, Woburn Road, Industrial Estate, Kempston, Bedfordshire, MK42 7PN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% Reducing Balance
Motor Vehicles 20% on Cost
Fixtures & Fittings 15% on Cost
Computer Equipment 25% on Cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 41 (2022: 41)
41 41
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 40,859 39,138 106,596 33,134 219,727
Additions - 54,767 1,808 20,692 77,267
Disposals - (39,138 ) (103,039 ) (15,657 ) (157,834 )
As at 30 November 2023 40,859 54,767 5,365 38,169 139,160
Depreciation
As at 1 December 2022 15,094 23,483 82,926 18,181 139,684
Provided during the period 1,289 18,254 774 9,542 29,859
Disposals - (23,483 ) (80,122 ) (12,307 ) (115,912 )
As at 30 November 2023 16,383 18,254 3,578 15,416 53,631
Net Book Value
As at 30 November 2023 24,476 36,513 1,787 22,753 85,529
As at 1 December 2022 25,765 15,655 23,670 14,953 80,043
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 393,248 346,143
Other debtors 1,000 5,000
Net wages - 250
Directors' loan accounts - 15,000
394,248 366,393
Due after more than one year
TJ Building Developments LLP 100,611 93,985
Tax - S455 30,705 28,469
131,316 122,454
525,564 488,847
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 30,375 17,755
Bank loans and overdrafts 7,750 22,700
Corporation tax 160,980 63,066
Other taxes and social security 68,376 56,723
VAT 141,238 133,788
Net wages 1,160 -
Intercompany Loan Account - Kernow Connection Limited (780 ) -
Accruals and deferred income 82,238 58,443
Directors' loan accounts 20,838 13,500
512,175 365,975
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 7,664
- 7,664
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mrs Kerry Eborall 15,000 - (15,000 ) - -
The above loan is unsecured, interest free and repayable on demand.
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