0 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03487234 2023-01-01 2023-12-31 03487234 2023-12-31 03487234 2022-12-31 03487234 2022-01-01 2022-12-31 03487234 2022-12-31 03487234 2021-12-31 03487234 core:PlantMachinery 2023-01-01 2023-12-31 03487234 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 03487234 bus:Director1 2023-01-01 2023-12-31 03487234 core:PlantMachinery 2022-12-31 03487234 core:FurnitureFittingsToolsEquipment 2022-12-31 03487234 core:PlantMachinery 2023-12-31 03487234 core:FurnitureFittingsToolsEquipment 2023-12-31 03487234 core:WithinOneYear 2023-12-31 03487234 core:WithinOneYear 2022-12-31 03487234 core:ShareCapital 2023-12-31 03487234 core:ShareCapital 2022-12-31 03487234 core:RetainedEarningsAccumulatedLosses 2023-12-31 03487234 core:RetainedEarningsAccumulatedLosses 2022-12-31 03487234 core:PlantMachinery 2022-12-31 03487234 core:FurnitureFittingsToolsEquipment 2022-12-31 03487234 bus:SmallEntities 2023-01-01 2023-12-31 03487234 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03487234 bus:FullAccounts 2023-01-01 2023-12-31 03487234 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03487234 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Company registration number: 03487234
Talisman Services Limited
Unaudited filleted financial statements
31 December 2023
Talisman Services Limited
Contents
Statement of financial position
Notes to the financial statements
Talisman Services Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 213,794 103,802
_______ _______
213,794 103,802
Current assets
Debtors 6 - 6,459
Cash at bank and in hand 112,103 210,976
_______ _______
112,103 217,435
Creditors: amounts falling due
within one year 7 ( 70,068) ( 40,052)
_______ _______
Net current assets 42,035 177,383
_______ _______
Total assets less current liabilities 255,829 281,185
Provisions for liabilities ( 41,729) ( 19,722)
_______ _______
Net assets 214,100 261,463
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 214,000 261,363
_______ _______
Shareholders funds 214,100 261,463
_______ _______
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.
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 08 August 2024 , and are signed on behalf of the board by:
Mr C J Paget
Director
Company registration number: 03487234
Talisman Services Limited
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. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, West Midlands, B16 9HN. The business address is 29 Gladstone Road, Dorridge, Solihull, West Midlands, B93 8BX
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.
The financial statements are prepared in sterling, which is the functional currency of the entityand have been rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 - 15 % reducing balance
Fittings fixtures and equipment - 15 % 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2023 168,778 6,056 174,834
Additions 135,000 - 135,000
_______ _______ _______
At 31 December 2023 303,778 6,056 309,834
_______ _______ _______
Depreciation
At 1 January 2023 66,062 4,970 71,032
Charge for the year 24,845 163 25,008
_______ _______ _______
At 31 December 2023 90,907 5,133 96,040
_______ _______ _______
Carrying amount
At 31 December 2023 212,871 923 213,794
_______ _______ _______
At 31 December 2022 102,716 1,086 103,802
_______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors - 6,459
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax - 9,624
Social security and other taxes 5,241 685
Other creditors 64,827 29,743
_______ _______
70,068 40,052
_______ _______