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REGISTERED NUMBER: 02081994 (England and Wales)












TALISMAN HOMES (WEST) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 26 APRIL 2024






TALISMAN HOMES (WEST) LIMITED (REGISTERED NUMBER: 02081994)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 26 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TALISMAN HOMES (WEST) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 26 APRIL 2024







DIRECTORS: S J Wallbridge
D G Wallbridge
Miss R E Wallbridge



REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR



REGISTERED NUMBER: 02081994 (England and Wales)



BANKERS: National Westminster Bank plc
27 Market Place
Romsey
Hampshire
SO51 8ZH

TALISMAN HOMES (WEST) LIMITED (REGISTERED NUMBER: 02081994)

BALANCE SHEET
26 APRIL 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 41,784 4,327
Investment property 5 65,000 50,000
106,784 54,327

CURRENT ASSETS
Stocks 1,242,086 861,554
Debtors 6 1,205 6,375
Cash at bank and in hand 17,331 159,817
1,260,622 1,027,746
CREDITORS
Amounts falling due within one year 7 (1,301,307 ) (951,777 )
NET CURRENT (LIABILITIES)/ASSETS (40,685 ) 75,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,099

130,296

CREDITORS
Amounts falling due after more than one
year

8

(51,957

)

(34,858

)

PROVISIONS FOR LIABILITIES (7,500 ) -
NET ASSETS 6,642 95,438

TALISMAN HOMES (WEST) LIMITED (REGISTERED NUMBER: 02081994)

BALANCE SHEET - continued
26 APRIL 2024

2024 2023
Notes £ £
CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 149,900 149,900
Non-distributable reserve (61,039 ) (68,539 )
Retained earnings (82,419 ) 13,877
SHAREHOLDERS' FUNDS 6,642 95,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 26 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 26 April 2024 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.

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 25 September 2024 and were signed on its behalf by:





S J Wallbridge - Director


TALISMAN HOMES (WEST) LIMITED (REGISTERED NUMBER: 02081994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 26 APRIL 2024


1. STATUTORY INFORMATION

Talisman Homes (West) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is the amount derived from ordinary activities net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - Straight line over 4 years
Fixtures and fittings - Straight line over 4 years
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 3 years

Government grants
The following government grants have been received during the year:

- Business Interruption Payment (BIP) under the Coronavirus Bounce Back Loan scheme: The BIP is payable in respect of the loan interest for the first 12 months, together with any related fees. The accrual model has been used to recognise the income on a systematic basis over the periods in which the related finance costs are incurred. The company has also benefited from the UK government's provision of security for 100% of the loan.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TALISMAN HOMES (WEST) LIMITED (REGISTERED NUMBER: 02081994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 26 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 May 2023 2,785 685 - 4,597 8,067
Additions - - 50,792 1,500 52,292
At 26 April 2024 2,785 685 50,792 6,097 60,359
DEPRECIATION
At 1 May 2023 116 685 - 2,939 3,740
Charge for period 696 - 12,698 1,441 14,835
At 26 April 2024 812 685 12,698 4,380 18,575
NET BOOK VALUE
At 26 April 2024 1,973 - 38,094 1,717 41,784
At 30 April 2023 2,669 - - 1,658 4,327

TALISMAN HOMES (WEST) LIMITED (REGISTERED NUMBER: 02081994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 26 APRIL 2024


5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 May 2023 50,000
Revaluations 15,000
At 26 April 2024 65,000
NET BOOK VALUE
At 26 April 2024 65,000
At 30 April 2023 50,000


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 1,205 6,375

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 5,403 5,270
Hire purchase contracts 6,276 -
Other creditors 1,289,628 946,507
1,301,307 951,777

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 29,469 34,858
Hire purchase contracts 22,488 -
51,957 34,858

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 6,454 12,409
6,454 12,409

TALISMAN HOMES (WEST) LIMITED (REGISTERED NUMBER: 02081994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 26 APRIL 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 28,764 -

Hire purchase liabilities are secured on the assets to which they relate.