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REGISTERED NUMBER: 12811478 (England and Wales)















REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

TALGA ANODE UK LIMITED

TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Report of the Director 2

Report of the Independent Auditors 3

Profit and Loss Account 6

Balance Sheet 7

Statement of Changes in Equity 8

Notes to the Financial Statements 9


TALGA ANODE UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: M J Thompson





REGISTERED OFFICE: 115c Milton Road
Cambridge
United Kingdom
CB4 1XE





REGISTERED NUMBER: 12811478 (England and Wales)





AUDITORS: Prentis & Co LLP
Chartered Accountants & Statutory Auditors
115c Milton Road
Cambridge
CB4 1XE

TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

DIRECTOR
M J Thompson held office during the whole of the period from 1 July 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Prentis & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M J Thompson - Director


25 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TALGA ANODE UK LIMITED

Opinion
We have audited the financial statements of Talga Anode UK Limited (the 'company') for the year ended 30 June 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Director has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TALGA ANODE UK LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TALGA ANODE UK LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The primary responsibility for the prevention and detection of irregularities including fraud rests with both the management and those charged with governance of the company. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

We have considered the nature of the industry and sector, control environment, laws and regulations and business performance of the company. Laws and regulations considered included, but were not limited to, the Companies Act 2006, FRS 102 and UK taxation legislation.

During our planning procedures, we have enquired with the management in regards to their own assessment of the risks of irregularities, including fraud. We also enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.
We obtained relevant documentation and representations in order to form an opinion on potential irregularities, including fraud.

We considered the opportunities and incentives that may exist within the organisation for fraud.
Based on this understanding, we designed specific audit procedures to identify instances of non-compliance with laws and regulations, including obtaining additional corroborative evidence as required. Examples of procedures included reviewing large and unusual transactions, reviewing large and unexpected variances, reviewing journal entries and reviewing relevant legal correspondence.

There are inherent limitations in the audit procedures described above, not least as sampling is used under International Auditing Standards, therefore not all transactions are reviewed. Therefore there is a risk we will not detect all irregularities including those leading to a material misstatement in the financial statements or non-compliance with regulations. The risk of not detecting a material misstatement due to fraud is also higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery, collusion, omission or intentional misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Nigel Prentis FCA (Senior Statutory Auditor)
for and on behalf of Prentis & Co LLP
Chartered Accountants & Statutory Auditors
115c Milton Road
Cambridge
CB4 1XE

25 June 2025

TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 152,683 257,128

Administrative expenses 555,860 578,699
(403,177 ) (321,571 )

Other operating income (4,989 ) 176,838
OPERATING LOSS and
LOSS BEFORE TAXATION (408,166 ) (144,733 )

Tax on loss 4 - -
LOSS FOR THE FINANCIAL YEAR (408,166 ) (144,733 )

TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 999,126 928,171
Cash at bank 48,083 18,358
1,047,209 946,529
CREDITORS
Amounts falling due within one year 6 93,002 27,263
NET CURRENT ASSETS 954,207 919,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

954,207

919,266

CREDITORS
Amounts falling due after more than one
year

7

2,746,661

2,303,554
NET LIABILITIES (1,792,454 ) (1,384,288 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (1,792,455 ) (1,384,289 )
SHAREHOLDERS' FUNDS (1,792,454 ) (1,384,288 )

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 25 June 2025 and were signed by:





M J Thompson - Director


TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 1 (1,239,556 ) (1,239,555 )

Changes in equity
Total comprehensive income - (144,733 ) (144,733 )
Balance at 30 June 2023 1 (1,384,289 ) (1,384,288 )

Changes in equity
Total comprehensive income - (408,166 ) (408,166 )
Balance at 30 June 2024 1 (1,792,455 ) (1,792,454 )

TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Talga Anode UK 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 (£).


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.

The financial statements have been prepared on a going concern basis. This may not be appropriate because at 30th June 2024 the company's total liabilities exceeded its total assets by £1,792,454 and total liabilities of the company were £2,839,663. The company is reliant upon the continued supports of its parent company (Talga Group Ltd) but there is no evidence to suggest that this will not continue and that further funds will not be provided, as necessary, to enable the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants received
Grants received in the year are calculated on a matching accruals concept in line with expenditure on grant projects. If grant income has not been received but the expenditure has been incurred in the year the grant income is accrued.

Expenditure
Expenditure is accounted for on an accruals basis. All expenditure is calculated and accrued for without VAT.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 June 2024 nor for the year ended 30 June 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 872,167 817,166
Tax - 17,771
VAT 15,033 4,666
Accruals 109,176 84,701
Prepayments 2,750 3,867
999,126 928,171

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 56,778 7,399
Social security and other taxes 11,277 7,753
Accruals and deferred income 24,947 12,111
93,002 27,263

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Parent company loan 2,746,661 2,303,554

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary share 1 1 1

9. RESERVES
Retained
earnings
£   

At 1 July 2023 (1,384,289 )
Deficit for the year (408,166 )
At 30 June 2024 (1,792,455 )

TALGA ANODE UK LIMITED (REGISTERED NUMBER: 12811478)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. RELATED PARTY DISCLOSURES

At the year end Talga Technologies Limited owed Talga Anode UK Ltd £872,167 (2023: £817,166) for intercompany transactions.

During the year Talga Technologies Limited charged £Nil (2023: £28,008) to Talga Anode UK Limited for subcontracting which was recharged at fair value.

At the year end the parent company (Talga Group Ltd) had a loan balance of £2,746,661 (2023: £2,303,554)

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Talga Group Ltd.