Registration number:
Talkfree Design NE Ltd
for the Period from 13 June 2024 to 31 October 2024
Talkfree Design NE Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Talkfree Design NE Ltd
Company Information
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Directors |
R Steinhouse J Jackson-Shilling |
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Company secretary |
S Whybrow |
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Registered office |
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Accountants |
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Talkfree Design NE Ltd
(Registration number: 15776290)
Balance Sheet as at 31 October 2024
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Note |
2024 |
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£ |
£ |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Share Capital |
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Other reserves |
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Total equity |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Talkfree Design NE Ltd
Notes to the Financial Statements for the Period from 13 June 2024 to 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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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
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
Recognition and measurement
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Talkfree Design NE Ltd
Notes to the Financial Statements for the Period from 13 June 2024 to 31 October 2024
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Investment properties |
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2024 |
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Additions |
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Fair value adjustments |
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At 31 October |
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Debtors |
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Note |
2024 |
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Amounts owed by group undertakings |
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Creditors |
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2024 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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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.