Company registration number 03786032 (England and Wales)
TALAVERA ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TALAVERA ESTATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
TALAVERA ESTATES LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
38,774
49,518
Investment property
4
183,576
183,576
222,350
233,094
Current assets
Debtors
5
890,413
775,040
Cash at bank and in hand
7,951
7,850
898,364
782,890
Creditors: amounts falling due within one year
6
(831,293)
(848,777)
Net current assets/(liabilities)
67,071
(65,887)
Total assets less current liabilities
289,421
167,207
Creditors: amounts falling due after more than one year
7
(33,483)
(47,837)
Provisions for liabilities
(8,183)
(11,130)
Net assets
247,755
108,240
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
247,753
108,238
Total equity
247,755
108,240
TALAVERA ESTATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 October 2025 and are signed on its behalf by:
Mr J Chastney
Director
Company registration number 03786032 (England and Wales)
TALAVERA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

Talavera Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Park Row, Nottingham, NG1 6GR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Talavera Estates Limited is a wholly owned subsidiary of Talavera Holdings Limited and the results of Talavera Estates Limited are included in the consolidated financial statements of Talavera Holdings Limited which are available from the registered office: 14 Park Row, Nottingham, England, UK, NG1 6GR.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Computers
33% straight line
Motor vehicles
25% reducing balance

Freehold land and assets in the course of construction are not depreciated.

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.

TALAVERA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price.

1.7
Equity instruments

Share capital issued by the company is recorded at the proceeds received, net of transaction costs. Dividends payable on share capital is recognised as liabilities once they are no longer at the discretion of the company.

TALAVERA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
TALAVERA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
3
Tangible fixed assets
Assets under construction
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
5,000
15,374
12,343
49,261
81,978
Additions
-
0
-
0
830
-
0
830
Disposals
-
0
-
0
(8,578)
-
0
(8,578)
At 30 November 2024
5,000
15,374
4,595
49,261
74,230
Depreciation and impairment
At 1 December 2023
-
0
12,563
9,634
10,263
32,460
Depreciation charged in the year
-
0
422
1,402
9,750
11,574
Eliminated in respect of disposals
-
0
-
0
(8,578)
-
0
(8,578)
At 30 November 2024
-
0
12,985
2,458
20,013
35,456
Carrying amount
At 30 November 2024
5,000
2,389
2,137
29,248
38,774
At 30 November 2023
5,000
2,811
2,709
38,998
49,518

Upon completion, assets under construction are transferred to the relevant asset pool.

4
Investment property
2024
£
Fair value
At 1 December 2023 and 30 November 2024
183,576

The fair value of the investment property has been arrived at on the basis of a valuation on an open market value basis by reference to market evidence of transaction prices for similar properties.

TALAVERA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
20,661
26,072
Other debtors
869,752
748,968
890,413
775,040
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
9,318
20,954
Amounts owed to group undertakings
670,936
666,200
Corporation tax
102,643
114,485
Other taxation and social security
864
1,080
Other creditors
37,532
36,058
831,293
848,777

Included in other creditors falling due within one year are amounts totalling £4,354 (2023: £4,354), which are secured on the asset acquired under the hire purchase agreement.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,833
15,833
Other creditors
27,650
32,004
33,483
47,837

Included in other creditors falling after one year are amounts totalling £27,650 (2023: £32,004), which are secured on the asset acquired under the hire purchase agreement.

TALAVERA ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 8 -
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan to director
2.50
654,750
531,780
(415,294)
771,236
654,750
531,780
(415,294)
771,236

The above amounts are included within other debtors.

9
Parent company

The parent company of Talavera Estates Limited is Talavera Holdings Limited, the registered office is 14 Park Row, Nottingham, England, UK, NG1 6GR.

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