REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TALBOT SCOTT LTD. |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TALBOT SCOTT LTD. |
TALBOT SCOTT LTD. (REGISTERED NUMBER: 02165274) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TALBOT SCOTT LTD. |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5-9 Eden Street |
Kingston-upon-Thames |
Surrey |
KT1 1BQ |
TALBOT SCOTT LTD. (REGISTERED NUMBER: 02165274) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 were approved by the director and authorised for issue on |
TALBOT SCOTT LTD. (REGISTERED NUMBER: 02165274) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Talbot Scott Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises the invoiced value of goods and services supplied by the company, net of value added tax. |
In respect of contracts for services over a period of time, turnover is recognised at the point where the right to income for the company becomes unconditional. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
33% Reducing balance |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
TALBOT SCOTT LTD. (REGISTERED NUMBER: 02165274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 45,669 | 74,655 |
Other creditors |
Barclays credit card | 2,127 | - |
Directors' current accounts | - | 2 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans | 11,667 | 21,667 |
TALBOT SCOTT LTD. (REGISTERED NUMBER: 02165274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | RELATED PARTY DISCLOSURES |
Included in amounts owed by group undertakings in debtors is an amount of £182,642 (2023 - £182,642) owed by T W Holdings Limited. Talbot Scott Limited is 100% owned by T W Holdings Limited. |
Also included in amounts owed by group undertakings in debtors is an amount of £70,718 (2023 - £90,531) owed by Talbot Scott Affinity Limited. a company also 100% owned by T W Holdings Limited. |
Also included in amounts owed by group undertakings in debtors is an amount of £68,912 (2023 - £51,912).owed by Tib Investments Limited. a company also 100% owned by T W Holdings Limited. |
Similar amounts are included in creditors due to the following companies within the TW Holdings Group: |
Scottish Trust Managers Limited - £30,435 (2023 - £25,325). |
Included in creditors is an amount of £117,527 (2023 - £117,627) owed to Raban Holdings Limited, a company 100% owned by Mr S. A. Talbot-Williams. |
Similar amounts are included in debtors due from the following companies in the Raban Holdings Group: |
Raban Limited - £311,945 (2023 - £211,039) |
Raban Labour Club Limited - £56,030 (2023 - £46,074) |
Raban (Wellington) Limited - £190,792 (2023 - £179,772) |
Raban Goodhall Limited - £18,000 (2023 creditor - £88,366) |
Similar amounts are included in creditors due to the following company in the Raban Holdings Group: |
02,923 (2023 - £350,810). |
During the year a total of £91,798 of dividends (2023 - 79,173) were paid to Mr S A Talbot-Williams. |