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Registered number: 14927652










TALSTONE PROPERTY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2024

 
TALSTONE PROPERTY LTD
REGISTERED NUMBER: 14927652

BALANCE SHEET
AS AT 30 JUNE 2024

2024
Note
£

Fixed assets
  

Tangible assets
  
204,826

  
204,826

Current assets
  

Cash at bank and in hand
  
3,854

  
3,854

Creditors: amounts falling due within one year
  
(239,061)

Net current (liabilities)/assets
  
 
 
(235,207)

Total assets less current liabilities
  
(30,381)

  

Net (liabilities)/assets
  
(30,381)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(30,382)

  
(30,381)


Page 1

 
TALSTONE PROPERTY LTD
REGISTERED NUMBER: 14927652

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 March 2025.




D Dixon
A C Duke
Director
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
TALSTONE PROPERTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Going concern

The company had a deficit on shareholders' funds at 30 June 2024 of £30,381. However, the directors are of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of this factor, the directors consider it appropriate to adopt the going concern basis in preparation of these financial statements.

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
TALSTONE PROPERTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.Accounting policies (continued)

 
1.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
1.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


2.


General information

Talstone Property Limited is a limited company incorporated in England and Wales.
The company's registered office is 36 Brook Road, Rayleigh, Essex, SS6 7XJ..


3.


Employees




The average monthly number of employees, including directors, during the period was 1.

Page 4

 
TALSTONE PROPERTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


Additions
204,826



At 30 June 2024

204,826






Net book value



At 30 June 2024
204,826


5.


Investment property






If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
£


Historic cost
204,826

204,826


6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
3,854

3,854


Page 5

 
TALSTONE PROPERTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
1,200

Other creditors
237,179

Accruals and deferred income
682

239,061



Page 6