Talking Finances Limited 08788411 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Independent Financial Advisors Digita Accounts Production Advanced 6.30.9574.0 true false true true 08788411 2023-04-01 2024-03-31 08788411 2024-03-31 08788411 bus:OrdinaryShareClass1 2024-03-31 08788411 bus:OrdinaryShareClass2 2024-03-31 08788411 core:CurrentFinancialInstruments 2024-03-31 08788411 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08788411 core:FurnitureFittingsToolsEquipment 2024-03-31 08788411 bus:SmallEntities 2023-04-01 2024-03-31 08788411 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08788411 bus:FilletedAccounts 2023-04-01 2024-03-31 08788411 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08788411 bus:RegisteredOffice 2023-04-01 2024-03-31 08788411 bus:Director4 2023-04-01 2024-03-31 08788411 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08788411 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 08788411 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08788411 core:FurnitureFittings 2023-04-01 2024-03-31 08788411 1 2023-04-01 2024-03-31 08788411 countries:England 2023-04-01 2024-03-31 08788411 2023-03-31 08788411 core:CostValuation 2023-03-31 08788411 core:FurnitureFittingsToolsEquipment 2023-03-31 08788411 2022-04-01 2023-03-31 08788411 2023-03-31 08788411 bus:OrdinaryShareClass1 2023-03-31 08788411 bus:OrdinaryShareClass2 2023-03-31 08788411 core:CurrentFinancialInstruments 2023-03-31 08788411 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Talking Finances Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

Registration number: 08788411

 

Talking Finances Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Talking Finances Limited

(Registration number: 08788411)
Statement of financial position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

5

7,250

7,250

Current assets

 

Debtors

6

10,879

10,206

Cash at bank and in hand

 

24,472

257

 

35,351

10,463

Creditors: Amounts falling due within one year

7

(20,146)

(20,123)

Net current assets/(liabilities)

 

15,205

(9,660)

Net assets/(liabilities)

 

22,455

(2,410)

Capital and reserves

 

Called up share capital

8

102

102

Retained earnings

22,353

(2,512)

Shareholders' funds/(deficit)

 

22,455

(2,410)

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Mr C P Masters
Director

 

Talking Finances Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 20 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.


The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Talking Finances Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

33.3 % Straight Line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Talking Finances Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

14,283

14,283

At 31 March 2024

14,283

14,283

Depreciation

At 1 April 2023

14,283

14,283

At 31 March 2024

14,283

14,283

Carrying amount

At 31 March 2024

-

-

5

Investments

2024
£

2023
£

Investments in subsidiaries

7,250

7,250

Subsidiaries

£

Cost or valuation

At 1 April 2023

7,250

Provision

Carrying amount

At 31 March 2024

7,250

At 31 March 2023

7,250

 

Talking Finances Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

1,806

1,806

Other debtors

 

8,400

8,400

Prepayments

 

673

-

 

10,879

10,206

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6,017

18,914

Taxation and social security

 

6,414

429

Accruals and deferred income

 

7,715

780

 

20,146

20,123

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

100

100

100

100

B Ordinary of £0.05 each

40

2

40

2

140

102

140

102

9

Parent and ultimate parent undertaking

The company's immediate parent is CPM Financial Planning Limited, incorporated in England.