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REGISTERED NUMBER: 05195595


















Financial Statements

for the Year Ended 30 November 2023

for

Talis Projects Limited

Talis Projects Limited (Registered number: 05195595)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Talis Projects Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: M Butcher
D Butcher





SECRETARY: D Butcher





REGISTERED OFFICE: Suite 1
19 Aviation Way
Southend Airport
Southend on Sea
Essex
SS2 6UN





REGISTERED NUMBER: 05195595





ACCOUNTANTS: Anser Solutions!
Chartered Accountants
Suite 1
19 Aviation Way
Southend Airport
Southend on Sea
Essex
SS2 6UN

Talis Projects Limited (Registered number: 05195595)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 95,562 78,215
Investment property 4 235,000 235,000
330,562 313,215

CURRENT ASSETS
Stocks 10,294 8,550
Debtors 5 465,044 1,059,507
Cash at bank 566,864 175,410
1,042,202 1,243,467
CREDITORS
Amounts falling due within one year 6 575,383 761,109
NET CURRENT ASSETS 466,819 482,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

797,381

795,573

CREDITORS
Amounts falling due after more than one year 7 (19,686 ) (27,456 )

PROVISIONS FOR LIABILITIES (23,890 ) (14,861 )
NET ASSETS 753,805 753,256

CAPITAL AND RESERVES
Called up share capital 20 20
Fair value reserve 9 36,497 42,722
Retained earnings 9 717,288 710,514
SHAREHOLDERS' FUNDS 753,805 753,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Talis Projects Limited (Registered number: 05195595)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





M Butcher - Director


Talis Projects Limited (Registered number: 05195595)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is initially recognised at cost. The cost of a purchased investment property comprises it's purchase price and any directly attributable expenditure. Subsequently, investment property whose value can be measured without undue cost or effort is measured at fair value at each reporting date with changes in fair value being recognised in the income statement.

Deferred tax is provided on these fair value changes at the rate expected to apply when the property is sold.

Fair value is determined by the directors based on their knowledge of the properties taking into account location, condition and prevailing market values at the reporting date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Talis Projects Limited (Registered number: 05195595)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company makes employer contributions into the personal pensions of employees. Contributions are provided in the profit & loss account in the year to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 117,757
Additions 38,371
Disposals (24,000 )
At 30 November 2023 132,128
DEPRECIATION
At 1 December 2022 39,542
Charge for year 15,571
Eliminated on disposal (18,547 )
At 30 November 2023 36,566
NET BOOK VALUE
At 30 November 2023 95,562
At 30 November 2022 78,215

Talis Projects Limited (Registered number: 05195595)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 38,371
At 30 November 2023 38,371
DEPRECIATION
Charge for year 1,599
At 30 November 2023 1,599
NET BOOK VALUE
At 30 November 2023 36,772

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 235,000
NET BOOK VALUE
At 30 November 2023 235,000
At 30 November 2022 235,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2017 3,662
Valuation in 2018 30,000
Valuation in 2020 15,000
Cost 186,338
235,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 13,055 948,247
Amounts recoverable on contract 433,350 85,356
Other debtors 18,639 25,904
465,044 1,059,507

Talis Projects Limited (Registered number: 05195595)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,085 9,829
Hire purchase contracts 6,626 -
Trade creditors 191,756 414,225
Taxation and social security 195,531 324,318
Other creditors 171,385 12,737
575,383 761,109

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 17,370 27,456
Hire purchase contracts 2,316 -
19,686 27,456

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 27,455 37,285
Hire purchase contracts 8,942 -
36,397 37,285

The above loan is a 'Bounceback' loan taken out in 2020, which is 100% guaranteed by the government as part of their COVID19 relief measures and is repayable over 6 years.

Hre purchase liabilities are secured against the assets they were used to procure.

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2022 710,514 42,722 753,236
Profit for the year 206,449 206,449
Dividends (205,900 ) (205,900 )
Movements for year 6,225 (6,225 ) -
At 30 November 2023 717,288 36,497 753,785

10. OTHER FINANCIAL COMMITMENTS

Total operating lease commitments not included in the balance sheet amount to £108,165 (2022: £157,074)