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REGISTERED NUMBER: 09104043 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Talklife Ltd

Talklife Ltd (Registered number: 09104043)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Talklife Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M H Colquhoun
J J Druitt
R Nuwal
J L Russell
C M Sejersen





REGISTERED OFFICE: Runway East Building
1 Victoria Street
Bristol
BS1 6AA





REGISTERED NUMBER: 09104043 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Talklife Ltd (Registered number: 09104043)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,399 17,907
Tangible assets 5 94,040 68,952
113,439 86,859

CURRENT ASSETS
Debtors 6 1,579,134 270,566
Cash at bank 1,588,314 182,136
3,167,448 452,702
CREDITORS
Amounts falling due within one year 7 1,022,867 771,667
NET CURRENT ASSETS/(LIABILITIES) 2,144,581 (318,965 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,258,020 (232,106 )

CREDITORS
Amounts falling due after more than one
year

8

7,000

12,600
NET ASSETS/(LIABILITIES) 2,251,020 (244,706 )

CAPITAL AND RESERVES
Called up share capital 37,156 25,024
Share premium 6,630,006 3,765,639
Retained earnings (4,416,142 ) (4,035,369 )
2,251,020 (244,706 )

Talklife Ltd (Registered number: 09104043)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 March 2025 and were signed on its behalf by:





J J Druitt - Director


Talklife Ltd (Registered number: 09104043)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Talklife Ltd 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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Where contracts are paid in advance, revenue is recognised when the risks & rewards of ownership transfer to the buyer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Talklife Ltd (Registered number: 09104043)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 33% on straight line
Computer equipment - 33% on straight line

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Talklife Ltd (Registered number: 09104043)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Going concern
The directors are satisfied that the company has adequate resources to continue to operate for the foreseeable future. The directors have therefore prepared the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2023 21,748 5,931 27,679
Additions - 7,509 7,509
At 30 June 2024 21,748 13,440 35,188
AMORTISATION
At 1 July 2023 7,612 2,160 9,772
Charge for year 4,240 1,777 6,017
At 30 June 2024 11,852 3,937 15,789
NET BOOK VALUE
At 30 June 2024 9,896 9,503 19,399
At 30 June 2023 14,136 3,771 17,907

Talklife Ltd (Registered number: 09104043)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2023 35,197 130,888 166,085
Additions 25,895 52,400 78,295
Disposals - (1,332 ) (1,332 )
At 30 June 2024 61,092 181,956 243,048
DEPRECIATION
At 1 July 2023 13,809 83,324 97,133
Charge for year 14,753 37,381 52,134
Eliminated on disposal - (259 ) (259 )
At 30 June 2024 28,562 120,446 149,008
NET BOOK VALUE
At 30 June 2024 32,530 61,510 94,040
At 30 June 2023 21,388 47,564 68,952

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 195,288 208,410
Other debtors 1,383,846 62,156
1,579,134 270,566

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 5,600 5,600
Trade creditors 120,312 66,121
Taxation and social security 105,720 73,781
Other creditors 791,235 626,165
1,022,867 771,667

Other creditors includes convertible debt in the sum of £Nil (2023 - £87,303). Interest accrues at a rate of 6% pa.

Talklife Ltd (Registered number: 09104043)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 7,000 12,600

Included in bank loans in notes 7 and 8 is a combined balance of £12,600 (2023 - £18,200) which is guaranteed by the government and unsecured.

9. PENSION COMMITMENTS

At the year end contributions of £8,052 (2023 - £1,680) to defined contribution pension schemes were outstanding.

10. OFF-BALANCE SHEET ARRANGEMENTS

At 30 June 2024, the company had total commitments under non-cancellable operating leases over the remaining life of these leases of £45,024 (2023 - £32,160).

11. RELATED PARTY DISCLOSURES

Loans to related parties



Key
management


Total
2024 £ £
At start of period 15,413 15,413
Advanced 855 855
Repaid (13,581 ) (13,581 )
At end of period 2,687 2,687


Key
management


Total
2023 £ £
At start of period 1,398 1,398
Advanced 15,413 15,413
Repaid (1,398 ) (1,398 )
At end of period 15,413 15,413

Loans to key management are interest free and repayable on demand.

Talklife Ltd (Registered number: 09104043)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. RELATED PARTY DISCLOSURES - continued

Loans from related parties



Other related
parties


Total
2024 £ £
At start of period - -
Advanced 12,978 12,978
Repaid (7,978 ) (7,978 )
At end of period 5,000 5,000


Other related
parties


Total
2023 £ £
At start of period - -
Advanced - -
Repaid - -
At end of period - -

Loans from other related parties are interest free and repayable on demand.