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TALBOT HOSPITALITY SERVICES LIMITED

Registered Number
10293002
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

TALBOT HOSPITALITY SERVICES LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

CLARKE, Anthony John
CLARKE, Janette

Registered Address

Talbot Arms
High Street
Settle
BD24 9EX

Registered Number

10293002 (England and Wales)
TALBOT HOSPITALITY SERVICES LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets311,53417,072
Tangible assets422,85025,219
34,38442,291
Current assets
Stocks514,00023,000
Debtors62,4462,443
Cash at bank and on hand340,055272,539
356,501297,982
Creditors amounts falling due within one year7(106,850)(88,872)
Net current assets (liabilities)249,651209,110
Total assets less current liabilities284,035251,401
Creditors amounts falling due after one year8-(479)
Provisions for liabilities9(5,700)(6,300)
Net assets278,335244,622
Capital and reserves
Called up share capital100100
Profit and loss account278,235244,522
Shareholders' funds278,335244,622
The financial statements were approved and authorised for issue by the Board of Directors on 11 April 2025, and are signed on its behalf by:
CLARKE, Anthony John
Director
CLARKE, Janette
Director

Registered Company No. 10293002
TALBOT HOSPITALITY SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 October 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.
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 sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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 initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Office Equipment20
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
2.Average number of employees

20242023
Average number of employees during the year2026
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 November 2355,38155,381
At 31 October 2455,38155,381
Amortisation and impairment
At 01 November 2338,30938,309
Charge for year5,5385,538
At 31 October 2443,84743,847
Net book value
At 31 October 2411,53411,534
At 31 October 2317,07217,072
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 November 2352,2463,07955,325
Additions1,2301,0152,245
Disposals(688)(974)(1,662)
At 31 October 2452,7883,12055,908
Depreciation and impairment
At 01 November 2328,4411,66530,106
Charge for year3,6182133,831
On disposals(338)(541)(879)
At 31 October 2431,7211,33733,058
Net book value
At 31 October 2421,0671,78322,850
At 31 October 2323,8051,41425,219
5.Stocks

2024

2023

££
Raw materials and consumables14,00023,000
Total14,00023,000
6.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income2,4462,443
Total2,4462,443
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables24,41114,953
Bank borrowings and overdrafts2512,500
Amounts owed to related parties4581,724
Taxation and social security77,12268,671
Accrued liabilities and deferred income4,6081,024
Total106,85088,872
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-479
Total-479
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,7006,300
Total5,7006,300
10.Other commitments
At the year end the company had lease commitments totalling £85,834 (2023 - £125,834).