Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Dr Anthony Greer 25/08/2017 20 June 2025 The principal activity of the Company during the financial year continued to be that of providing offsite manufactured homes to the UK housing market. 10933588 2024-12-31 10933588 bus:Director1 2024-12-31 10933588 2023-12-31 10933588 core:CurrentFinancialInstruments 2024-12-31 10933588 core:CurrentFinancialInstruments 2023-12-31 10933588 core:Non-currentFinancialInstruments 2024-12-31 10933588 core:Non-currentFinancialInstruments 2023-12-31 10933588 core:ShareCapital 2024-12-31 10933588 core:ShareCapital 2023-12-31 10933588 core:RetainedEarningsAccumulatedLosses 2024-12-31 10933588 core:RetainedEarningsAccumulatedLosses 2023-12-31 10933588 core:ComputerEquipment 2023-12-31 10933588 core:ComputerEquipment 2024-12-31 10933588 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-12-31 10933588 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-12-31 10933588 core:ImmediateParent core:CurrentFinancialInstruments 2024-12-31 10933588 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 10933588 bus:OrdinaryShareClass1 2024-12-31 10933588 2024-01-01 2024-12-31 10933588 bus:FilletedAccounts 2024-01-01 2024-12-31 10933588 bus:SmallEntities 2024-01-01 2024-12-31 10933588 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10933588 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10933588 bus:Director1 2024-01-01 2024-12-31 10933588 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 10933588 2023-01-01 2023-12-31 10933588 core:ComputerEquipment 2024-01-01 2024-12-31 10933588 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 10933588 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10933588 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10933588 (England and Wales)

TALO ELEMENTS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

TALO ELEMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

TALO ELEMENTS LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
TALO ELEMENTS LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,153 1,384
2,153 1,384
Current assets
Debtors 4 365,181 271,875
Cash at bank and in hand 45,925 4,187
411,106 276,062
Creditors: amounts falling due within one year 5 ( 1,785,034) ( 1,148,068)
Net current liabilities (1,373,928) (872,006)
Total assets less current liabilities (1,371,775) (870,622)
Creditors: amounts falling due after more than one year 6 ( 6,667) ( 85,000)
Net liabilities ( 1,378,442) ( 955,622)
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 1,378,444 ) ( 955,624 )
Total shareholder's deficit ( 1,378,442) ( 955,622)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Talo Elements Ltd (registered number: 10933588) were approved and authorised for issue by the Director on 20 June 2025. They were signed on its behalf by:

Dr Anthony Greer
Director
TALO ELEMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
TALO ELEMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Talo Elements Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Room 1072, Building A8, Cody Technology Park, Ively Road, Farnborough, GU14 0LX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Balance Sheet is showing net liabilities of £1,378,442. However this includes an amount of £1,363,746 due to the parent Company who will continue to support the Company to ensure it can meet liabilities as they fall due.

Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 5

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 January 2024 5,238 5,238
Additions 1,699 1,699
At 31 December 2024 6,937 6,937
Accumulated depreciation
At 01 January 2024 3,854 3,854
Charge for the financial year 930 930
At 31 December 2024 4,784 4,784
Net book value
At 31 December 2024 2,153 2,153
At 31 December 2023 1,384 1,384

4. Debtors

2024 2023
£ £
Trade debtors 35,377 0
Amounts owed by fellow subsidiaries 256,451 253,922
Other debtors 73,353 17,953
365,181 271,875

Amounts owed by fellow subsidiaries are repayable on demand and do not bear interest.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 99,460 66,561
Amounts owed to Parent undertakings 1,363,746 771,359
Other taxation and social security 9,455 1,554
Other creditors 302,373 298,594
1,785,034 1,148,068

Amounts owed to parent undertakings are repayable on demand and do not bear interest.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,667 15,000
Other creditors 0 70,000
6,667 85,000

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2