Registration number: 07791594

Talzac Property Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Talzac Property Ltd

Company Information

Directors

Mr John Burgess Mrs Suzanne Burgess Mr Zachary Elliot Burgess Miss Talia Mae Burgess

Registered office

80 Yew Tree Road Tunbridge Wells Kent TN4 0BN

Accountants

Redwoods Chartered Certified Accountants2 Clyst Works Clyst Road Topsham Exeter Devon EX3 0DB

Talzac Property Ltd

(Registration number: 07791594)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	4	1,004,746	1,108,094
Current assets
Debtors	5	1,011	2,712
Cash at bank and in hand		26,231	30,352
		27,242	33,064
Creditors: Amounts falling due within one year	6	(795,316)	(910,931)
Net current liabilities		(768,074)	(877,867)
Total assets less current liabilities		236,672	230,227
Provisions for liabilities		(34,675)	(34,675)
Net assets		201,997	195,552
Capital and reserves
Called up share capital	7	100	100
Other reserves		104,024	104,024
Retained earnings		97,873	91,428
Shareholders' funds		201,997	195,552

For the financial year ending 30 September 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 year 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 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 9 June 2025 and signed on its behalf by:
 

......................................... Mr John Burgess Director

Talzac Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
80 Yew Tree Road
Tunbridge Wells
Kent
TN4 0BN

These financial statements were authorised for issue by the Board on 9 June 2025.

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 accounts are presented in £ sterling and rounded to the nearest £1.

Going concern

Judgements

In the application of the company’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Talzac Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Talzac Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other accounts receivable and payable and loans from banks/other third parties.
 Recognition and measurement
Debt instruments like loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. In the case of a non current liability not at a market rate of interest, the financial liability is measured initially and subsequently at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows, discounted at the assets original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Talzac Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4	Investment properties

	2024 £
At 1 October	1,108,094
Additions	4,707
Disposals	(108,055)
At 30 September	1,004,746

The fair value of the properties at 30th September 2024 has been arrived at on the basis of a valuation carried out by Mr J Burgess, director of the company, who is not a professionally qualified valuer. The basis of the valuation was market value.

The class of asset has a current value of £1,004,746 (2023 - £1,108,094) and a carrying amount at historical cost of £866,047 (2023 - £969,395). The aggregate depreciation on this historical cost is £nil (2023 - £nill)

There has been no valuation of investment property by an independent valuer.

Talzac Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Debtors

	2024 £	2023 £
Trade debtors	-	453
Prepayments	1,011	2,259
	1,011	2,712

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	3,675	6,942
Accruals and deferred income	2,293	3,914
Other creditors	789,348	900,075
	795,316	910,931

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	4	4	4	4
A Ordinary of £1 each	24	24	24	24
B Ordinary of £1 each	24	24	24	24
C Ordinary of £1 each	48	48	48	48
	100	100	100	100

8

Reserves

Deferred tax has been provided on the investment property revaluation. These have been charged in the statement of comprehensive income and debited to the fair value reserve.