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Registration number: SC628810

Talo Estates Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Talo Estates Ltd

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3
Notes to the Unaudited Financial Statements | 4 to 9

Talo Estates Ltd

Company Information

Directors | A C Kemp S L Kemp

Registered office | 27 North Bridge Street Hawick Scottish Borders TD9 9BD

Accountants | Deans Accountants And Business Advisors Ltd 27 North Bridge Street Hawick Scottish Borders TD9 9BD

DEANS
Chartered Accountants
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Talo Estates Ltd for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Talo Estates Ltd for the year ended 31 March 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Talo Estates Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Talo Estates Ltd and state those matters that we have agreed to state to the Board of Directors of Talo Estates Ltd, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Talo Estates Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Talo Estates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Talo Estates Ltd. You consider that Talo Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Talo Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

1 December 2025

Talo Estates Ltd

(Registration number: SC628810)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 6,070 | 13,776
Investment property | 5 | 534,542 | 534,542
|  | 540,612 | 548,318
Current assets |  |  |
Debtors | 6 | 55,314 | 33,989
Cash at bank and in hand |  | 3,604 | 14,626
|  | 58,918 | 48,615
Creditors: Amounts falling due within one year | 7 | (603,778) | (599,340)
Net current liabilities |  | (544,860) | (550,725)
Total assets less current liabilities |  | (4,248) | (2,407)
Creditors: Amounts falling due after more than one year | 7 | (2,432) | (5,264)
Net liabilities |  | (6,680) | (7,671)
Capital and reserves |  |  |
Called up share capital | 9 | 200 | 200
Retained earnings |  | (6,880) | (7,871)
Shareholders' deficit |  | (6,680) | (7,671)

For the financial year ending 31 March 2025 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 1 December 2025 and signed on its behalf by:

......................................... A C Kemp Director
......................................... S L Kemp Director

Talo Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD
United Kingdom

These financial statements were authorised for issue by the Board on 1 December 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 financial statements are presented in Sterling (£) and rounded to the nearest £0.

Going concern

The company has net liabilities of £6,680 as at 31 March 2025. The company relies on the continued support of the directors to finance the day to day working requirements.
The directors consider it appropriate to prepare the Financial Statements on a going concern basis after consideration of all the information available about the foreseeable future (limited to one year from the date of approval of these financial statements) there is reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future.
If adoption of the going concern basis was inappropriate, adjustments could be required to write down assets to the assessment of their recoverable value, to reclassify fixed assets as current assets and to provide for any further liabilities that may arise.

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included:
Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets.

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.
Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.

Talo Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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
Office Equipment | 25% 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.

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.

Talo Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it’s liabilities.
Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expenses in the profit and loss account.
Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Talo Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
At 1 April 2024 | 31,498 | 31,498
At 31 March 2025 | 31,498 | 31,498
Depreciation
At 1 April 2024 | 17,722 | 17,722
Charge for the year | 7,706 | 7,706
At 31 March 2025 | 25,428 | 25,428
Carrying amount
At 31 March 2025 | 6,070 | 6,070
At 31 March 2024 | 13,776 | 13,776

5 | Investment properties

| 2025 £
At 1 April | 534,542
At 31 March | 534,542

The directors are of the opinion that the above value reflects fair market value at the balance sheet date.

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 3,780 | 746
Other debtors | 51,534 | 33,243
| 55,314 | 33,989

Talo Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 2,766 | 2,766
Trade creditors |  | 5,118 | -
Taxation and social security |  | 152 | 152
Accruals and deferred income |  | 6,198 | 5,258
Other creditors |  | 589,544 | 591,164
|  | 603,778 | 599,340

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 2,432 | 5,264

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 2,432 | 5,264

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 2,766 | 2,766

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares A of £1 each | 100 | 100 | 100 | 100
Ordinary shares B of £1 each | 100 | 100 | 100 | 100
| 200 | 200 | 200 | 200

10 | Related party transactions

Summary of transactions with other related parties

During the year the company advanced loans to Talo Holdings Limited, a company controlled by the same director's.
At the balance sheet date the amount due from Talo Holdings Limited was £51,200 (2024 - £30,500).

Talo Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

11 | Parent and ultimate parent undertaking

The company's ultimate controlling party is Talo Holdings Ltd.