0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,374 76 458 534 840 1,298 xbrli:pure xbrli:shares iso4217:GBP 11100953 2023-01-01 2023-12-31 11100953 2023-12-31 11100953 2022-12-31 11100953 2022-01-01 2022-12-31 11100953 2022-12-31 11100953 2021-12-31 11100953 core:PlantMachinery 2023-01-01 2023-12-31 11100953 bus:Director1 2023-01-01 2023-12-31 11100953 core:PlantMachinery 2022-12-31 11100953 core:PlantMachinery 2023-12-31 11100953 core:WithinOneYear 2023-12-31 11100953 core:WithinOneYear 2022-12-31 11100953 core:ShareCapital 2023-12-31 11100953 core:ShareCapital 2022-12-31 11100953 core:RetainedEarningsAccumulatedLosses 2023-12-31 11100953 core:RetainedEarningsAccumulatedLosses 2022-12-31 11100953 core:PlantMachinery 2022-12-31 11100953 bus:SmallEntities 2023-01-01 2023-12-31 11100953 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11100953 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11100953 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11100953 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 11100953
Talbot Square 2 Ltd
Filleted Unaudited Financial Statements
31 December 2023
Talbot Square 2 Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
840
1,298
Current assets
Stocks
491,003
480,934
Debtors
5
847,268
812,870
Cash at bank and in hand
237,196
323,340
------------
------------
1,575,467
1,617,144
Creditors: amounts falling due within one year
6
1,422,887
1,457,676
------------
------------
Net current assets
152,580
159,468
---------
---------
Total assets less current liabilities
153,420
160,766
---------
---------
Net assets
153,420
160,766
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
153,320
160,666
---------
---------
Shareholders funds
153,420
160,766
---------
---------
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.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Talbot Square 2 Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
C G Pomford
Director
Company registration number: 11100953
Talbot Square 2 Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the sale of the development property.
Income tax
The taxation expense represents the aggregate amount of current recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
33% straight line
Stocks
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. 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. 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.
4. Tangible assets
Plant and machinery
£
Cost
At 1 January 2023 and 31 December 2023
1,374
-------
Depreciation
At 1 January 2023
76
Charge for the year
458
-------
At 31 December 2023
534
-------
Carrying amount
At 31 December 2023
840
-------
At 31 December 2022
1,298
-------
5. Debtors
2023
2022
£
£
Other debtors
847,268
812,870
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
19,000
19,887
Corporation tax
37,652
Other creditors
1,403,887
1,400,137
------------
------------
1,422,887
1,457,676
------------
------------
7. Prior period errors
The prior period error corrects the work in progress.
8. Directors' advances, credits and guarantees
At the year end, the company owed £1,395,787 (2022: £1,395,787) to Mr C Pomford. The loan was on interest free terms and repayable on demand.
9. Related party transactions
At the year end, Talbot Square 3 Limited owed the company £836,425 (2022: £801,425), a company controlled by Mr C Pomford. The loan was on interest free terms and repayable on demand.