Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Current assets | ||||
| Debtors | 3 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 21,055 | 428 | |||
| Creditors: amounts falling due within one year | 4 | (
|
(
|
|
| Net current liabilities | (255,880) | (255,013) | ||
| Total assets less current liabilities | (255,880) | (255,013) | ||
| Net liabilities | (
|
(
|
||
| Capital and reserves | ||||
| Called-up share capital | 5 |
|
|
|
| Profit and loss account | (
|
(
|
||
| Total shareholder's deficit | (
|
(
|
Director's responsibilities:
The financial statements of Talo Build Ltd (registered number:
|
Dr Anthony Greer
Director |
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.
Talo Build 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 £.
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 £255,880 however, £256,451 of this balance is a loan due to a fellow subsidiary who will continue to support the Company to ensure it can meet liabilities as they fall due. The parent Company will also extend financial support to ensure all liabilities are met as they fall due.
Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price.
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.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, excluding the director |
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
|
|
|
| Amounts owed to fellow subsidiaries |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|