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REGISTERED NUMBER: 03865434 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

TALBOT HOUSE LIMITED

TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TALBOT HOUSE LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2025







DIRECTORS: Mrs Patricia Bernadette Ledden
Mr David Andrew Ledden
Mr Gerard Michael Ledden





REGISTERED OFFICE: Crown Garage
Back Albion Road
Scarborough
North Yorkshire
YO11 2BT





REGISTERED NUMBER: 03865434 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
5 & 6 Manor Garth
Manor Court
Scarborough
North Yorkshire
YO11 3TU

TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

BALANCE SHEET
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 9,951,600 10,291,000
9,951,600 10,291,000

CURRENT ASSETS
Debtors 6 3,371,187 3,553,242
Cash at bank 75,612 185,499
3,446,799 3,738,741
CREDITORS
Amounts falling due within one year 7 4,343,591 1,733,614
NET CURRENT (LIABILITIES)/ASSETS (896,792 ) 2,005,127
TOTAL ASSETS LESS CURRENT LIABILITIES 9,054,808 12,296,127

CREDITORS
Amounts falling due after more than
one year

8

-

(3,300,000

)

PROVISIONS FOR LIABILITIES 10 (271,555 ) (308,305 )
NET ASSETS 8,783,253 8,687,822

CAPITAL AND RESERVES
Called up share capital 300 300
Fair value reserve 11 2,394,347 2,694,688
Retained earnings 6,388,606 5,992,834
8,783,253 8,687,822

TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

BALANCE SHEET - continued
31 March 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





Mr Gerard Michael Ledden - Director


TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2025


1. STATUTORY INFORMATION

Talbot House Limited 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 (£).


The level of rounding used in the financial statements is to the nearest £1.

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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents the total invoice value of rents receivable during the year. Rental income is recognised in the profit and loss account in the period to which the rents relate.

Investment property
Investment properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 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.

TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025


2. ACCOUNTING POLICIES - continued

Going concern-basis of preparation
In assessing the appropriateness of the application of the going concern basis, the directors have considered the uncertainties around the general economic environment, the current and future trading performance of the company and the available cash. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2024
and 31 March 2025 12,863
DEPRECIATION
At 1 April 2024
and 31 March 2025 12,863
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 10,291,000
Revaluations (339,400 )
At 31 March 2025 9,951,600
NET BOOK VALUE
At 31 March 2025 9,951,600
At 31 March 2024 10,291,000

TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025


5. INVESTMENT PROPERTY - continued

Investment properties included at fair value would have been included on a historical cost basis at:

2025 2024
£ £

Cost 7,285,698 7,285,698

The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.

The investment properties have been valued by the directors and professional valuers at fair value taking into account existing tenancy arrangements.

During the year a decrease in the fair value of the investment properties of £339,400 has been included directly in the profit and loss account.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 25,554 22,658
Amounts owed by group undertakings 3,334,043 3,504,043
Other debtors - 17,169
Prepayments and accrued income 11,590 9,372
3,371,187 3,553,242

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 2,800,000 -
Trade creditors 803 630
Corporation tax 2,766 128,210
Social security and other taxes - 167
Other creditors 1,515,513 1,600,322
Accrued expenses 24,509 4,285
4,343,591 1,733,614

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans - 1-2 years - 3,300,000

TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025


9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 2,800,000 3,300,000

The company's bank borrowings included in creditors due within and over one year are secured by a first legal charge over the freehold investment properties and a debenture over the whole assets and undertaking.

Further security in relation to the bank borrowings is provided by a group company Ledden Developments Limited.

10. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax on investment
property 271,555 308,305
271,555 308,305

Deferred
tax
£   
Balance at 1 April 2024 308,305
Provided during year (36,750 )
Balance at 31 March 2025 271,555

11. RESERVES
Fair
value
reserve
£   
At 1 April 2024 2,694,688
Revaluation of investment property (337,091 )
Deferred tax on investment property 36,750

At 31 March 2025 2,394,347

12. CONTINGENT LIABILITIES

The company along with other group companies, has guaranteed the borrowings of a group company, Ledden Developments Limited, by an unlimited intercompany composite guarantee supported by a first legal charge over all property assets and a debenture over the whole assets and undertaking. At 31 March 2025 the bank borrowings of Ledden Developments Limited amounted to £13,800,000.

TALBOT HOUSE LIMITED (REGISTERED NUMBER: 03865434)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2025


13. RELATED PARTY TRANSACTIONS

The company has guaranteed bank loans of a subsidiary. See note 13 for detail.

Included within creditors due within one year is £429,353 (2024 £445,761) owing to the directors of the company and £1,000,333 (2024 £1,057,762) owing to directors of the company's parent company, Crown Properties (Scarborough) Group Limited. These loans are deemed to be repayable on demand and no interest has been charged to the company on the amount outstanding.

14. CONTROLLING PARTY

The company's ultimate parent undertaking is Crown Properties (Scarborough) Group Limited whose
registered office is Crown Garage, Back Albion Road, Scarborough, YO11 2BT.