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REGISTERED NUMBER: 03178308 (England and Wales)















TALISMARD PROPERTIES LIMITED

Unaudited Financial Statements

For The Year Ended 28 February 2024






TALISMARD PROPERTIES LIMITED (REGISTERED NUMBER: 03178308)

Contents of the Financial Statements
For The Year Ended 28 February 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TALISMARD PROPERTIES LIMITED

Company Information
For The Year Ended 28 February 2024







DIRECTORS: A E Stevens
T C Stevens





SECRETARY: A E Stevens





REGISTERED OFFICE: Hilden Park House
79 Tonbridge Road
Hildenborough
Tonbridge
Kent
TN11 9BH





REGISTERED NUMBER: 03178308 (England and Wales)





ACCOUNTANTS: Hilden Park Accountants Limited
Chartered Accountants
Hilden Park House
79 Tonbridge Road
Hildenborough
Tonbridge
Kent
TN11 9BH

TALISMARD PROPERTIES LIMITED (REGISTERED NUMBER: 03178308)

Abridged Balance Sheet
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,837 22,731
Investment property 5 4,971,048 4,300,015
5,016,885 4,322,746

CURRENT ASSETS
Debtors 2,016 -
Cash at bank 182,708 290,371
184,724 290,371
CREDITORS
Amounts falling due within one year 92,553 89,041
NET CURRENT ASSETS 92,171 201,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,109,056

4,524,076

CREDITORS
Amounts falling due after more than one year 6 (330,454 ) (12,424 )

PROVISIONS FOR LIABILITIES (782,299 ) (699,799 )
NET ASSETS 3,996,303 3,811,853

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 3,986,303 3,801,853
SHAREHOLDERS' FUNDS 3,996,303 3,811,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

TALISMARD PROPERTIES LIMITED (REGISTERED NUMBER: 03178308)

Abridged Balance Sheet - continued
28 February 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 November 2024 and were signed on its behalf by:





A E Stevens - Director


TALISMARD PROPERTIES LIMITED (REGISTERED NUMBER: 03178308)

Notes to the Financial Statements
For The Year Ended 28 February 2024


1. STATUTORY INFORMATION

Talismard Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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 value of the consideration received or receivable, net of discounts, for the rental income received. Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
In accordance with the FRS 102, the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on annual revaluation of such properties is transferred to the investment property revaluation reserve.

No depreciation is provided on freehold investment properties and this is considered to be a departure from the Companies Act 2006, that requires the systematic depreciation of any fixed asset that has a limited useful economic life. The directors consider that this policy is necessary in order that the Financial Statements may give a true and fair view because current values and changes in current values are of prime importance rather than the systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Acquisitions and disposals of freehold properties are respectively treated as additions and disposals in the accounting year in which the purchase/sales contracts are signed.

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.


TALISMARD PROPERTIES LIMITED (REGISTERED NUMBER: 03178308)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants on capital expenditure are credited to a deferral account and are released to revenue by equal annual amounts over the expected useful life of the asset to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 142,324
Additions 31,224
At 28 February 2024 173,548
DEPRECIATION
At 1 March 2023 119,593
Charge for year 8,118
At 28 February 2024 127,711
NET BOOK VALUE
At 28 February 2024 45,837
At 28 February 2023 22,731

TALISMARD PROPERTIES LIMITED (REGISTERED NUMBER: 03178308)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 4,300,015
Additions 341,033
Revaluations 330,000
At 28 February 2024 4,971,048
NET BOOK VALUE
At 28 February 2024 4,971,048
At 28 February 2023 4,300,015

Investment properties were valued by the directors by reference to the recent sales prices of similar properties on the open market. No depreciation is provided in respect of investment properties.

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2016 3,730,000
Valuation in 2022 291,843
Valuation in 2023 278,172
Valuation in 2024 671,033
4,971,048

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,035,706 1,035,706

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans over five years 190,230 -

TALISMARD PROPERTIES LIMITED (REGISTERED NUMBER: 03178308)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 365,510 -