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Registration number: 15776290

Talkfree Design NE Ltd

Unaudited Filleted Financial Statements

for the Period from 13 June 2024 to 31 October 2024

 

Talkfree Design NE Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Talkfree Design NE Ltd

Company Information

Directors

R Steinhouse

J Jackson-Shilling

Company secretary

S Whybrow

Registered office

Suite 1 Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

Accountants

Landmark Accountants Limited Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

Talkfree Design NE Ltd

(Registration number: 15776290)
Balance Sheet as at 31 October 2024

Note

2024

   

£

£

Fixed assets

   

Investment property

4

 

130,000

Current assets

   

Debtors

5

3,000

 

Creditors: Amounts falling due within one year

6

(132,649)

 

Net current liabilities

   

(129,649)

Total assets less current liabilities

   

351

Provisions for liabilities

 

(63)

Net assets

   

288

Capital and reserves

   

Share Capital

100

 

Other reserves

188

 

Total equity

   

288

For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 May 2025 and signed on its behalf by:
 

.........................................
R Steinhouse
Director

 

Talkfree Design NE Ltd

Notes to the Financial Statements for the Period from 13 June 2024 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 1 Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rent, lease extensions, fees, insurance premiums and freehold sales. Rental income is recognised in the period to which it relates. Insurance premium income is recognised at the point of renewal inception. Fees are recognised when the service is performed. Freehold sales and lease extensions are recognised when the transaction is completed.
Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Talkfree Design NE Ltd

Notes to the Financial Statements for the Period from 13 June 2024 to 31 October 2024

Tax

The tax expense for the period comprises tax together with the value of tax losses surrendered or relieved as appropriate, charged on a £1 for £1 basis. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Properties held to earn rental income and for capital appreciation are included in investment property. Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Talkfree Design NE Ltd

Notes to the Financial Statements for the Period from 13 June 2024 to 31 October 2024

4

Investment properties

2024
£

Additions

129,749

Fair value adjustments

251

At 31 October

130,000

5

Debtors

Note

2024
£

Amounts owed by group undertakings

7

3,000

6

Creditors

2024
£

Due within one year

Accruals and deferred income

850

Other creditors

131,799

132,649

7

Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 1AC.35 from disclosing transactions with other group companies wholly owned within the group.