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Talacom Limited

Registered Number
06448206
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Talacom Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Andrew Baud

Company Secretary

Sarah Garstin

Registered Address

Saddlers House
High Street
Bloxham
OX15 4LU

Registered Number

06448206 (England and Wales)
Talacom Limited
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3239,878239,878
Tangible assets44,3248,466
244,202248,344
Current assets
Debtors5229,677140,717
Cash at bank and on hand160,25965,085
389,936205,802
Creditors amounts falling due within one year6(298,649)(234,161)
Net current assets (liabilities)91,287(28,359)
Total assets less current liabilities335,489219,985
Creditors amounts falling due after one year7(246,389)(210,754)
Net assets89,1009,231
Capital and reserves
Called up share capital590590
Profit and loss account88,5108,641
Shareholders' funds89,1009,231
The financial statements were approved and authorised for issue by the Director on 6 February 2025, and are signed on its behalf by:
Andrew Baud
Director
Registered Company No. 06448206
Talacom Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment5
2.Average number of employees

20242023
Average number of employees during the year1413
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 24239,878239,878
At 31 December 24239,878239,878
Net book value
At 31 December 24239,878239,878
At 31 December 23239,878239,878
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 January 24-12,75220,07032,822
At 31 December 24-12,75220,07032,822
Depreciation and impairment
At 01 January 24-11,48112,87524,356
Charge for year4,142--4,142
At 31 December 244,14211,48112,87528,498
Net book value
At 31 December 24(4,142)1,2717,1954,324
At 31 December 23-1,2717,1958,466
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables219,003132,240
Other debtors3361,000
Prepayments and accrued income10,3387,477
Total229,677140,717
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables47,14335,025
Bank borrowings and overdrafts18,78328,583
Taxation and social security194,064165,042
Other creditors3,0793,761
Accrued liabilities and deferred income35,5801,750
Total298,649234,161
7.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties151,589-
Other creditors94,800210,754
Total246,389210,754
8.Related party transactions
During the period the company acquired Elan PR Limited. The acquisition date was 17th September 2024. Talacom Limited owns 100% of the share capital of Elan PR Limited (2023 - 0%) During the year Talacom set up an Employee Ownership Trust (Talacom Trustees Limited). This trust is a related party and 100% of the shares in Talacom Limited were transferred to the Trust on the 25th October 2024. No further transactions have been made with the trust during the period. The beneficiaries of the trust are: Eligible Employees of Talacom Limited