Talacrest 2000 AD Limited

Registered number

03861391

Report and Financial Statements

31 March 2025

Talacrest 2000 AD Limited

Company Information

Director

J A Collins

Auditors

J Toop Associates Limited

Fides House

10 Chertsey Road

Woking

Surrey

GU21 5AB

Registered office

Fides House

10 Chertsey Road

Woking

Surrey

GU21 5AB

Registered number

03861391

Talacrest 2000 AD Limited
Registered number:		03861391
Director's Report

The director presents his report and financial statements for the year ended 31 March 2025.

Principal activities
The company's principal activity during the year continued to be the sale of prestige and classic cars.

Future developments
The company will continue to invest in its brand and operations whilst developing its presence in strategic international geographies to further consolidate its global leadership position in prestige and classic cars.

Directors
The following persons served as directors during the year:

	J A Collins

Director's responsibilities

The director is responsible for preparing the report and 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 (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are 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 estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	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.


Disclosure of information to auditors

The director confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is 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 auditor is aware of that information.



This report was approved by the board on 13 June 2025 and signed on its behalf.



J A Collins
Director

Talacrest 2000 AD Limited
Strategic Report

The director presents his strategic report for the year to 31st March 2025. The company operates its business of selling prestige and classic cars worldwide. The company operates its business of selling prestige and classic cars throughout the whole of the UK and the rest of the world. The company sells high value cars and is pleased with the results for the year to 31st March 2025. The company is looking to expand its operations worldwide and continue to build the "Talacrest" brand in strategic geographies. We started to see a downward movement in classic car prices during the last calendar year. There are several factors causing prices to fall and stagnation in the market. The UK and the USA elections have not been entirely helpful. Trade tariffs have been imposed by the USA government resulting in trade wars and increased global uncertainty. Higher interest rates have not helped the second-hand car market which ripples down to the classic car market. Any business associated with the sale of classic cars faces the risk of general global economic conditions and changes to customers preferences. There has been great uncertainty and hesitation that was not there a few years ago. Some large collectors have been dumping very expensive 1950s and 1960s Ferraris at auctions taking huge losses. The results of auction sales and the number of auctions have made many collectors very nervous. The demographic of buyers is also changing and younger collectors are not so interested in 1950s and 1960s cars. We have seen this before in 1990 and 2015. For this reason we have built up and maintained our cash reserves so we are in a strong position should opportunities arise. For example In 2015 we were able to move fast and buy a collection of 27 cars for £16 million.
We are hopeful prices will settle at a level where classic Ferraris are still attractive to buyers. We feel comfortable with the decisions made this year regarding buying certain cars for stock and are fortunate that Talacrest does not have any borrowings. It is a question of watching and waiting knowing we have the cash to make quick decisions on what we see if it represents good value. Until the world economy settles down we are being cautious. The market needs a correction where the values of certain classic cars are currently at. We have now moved into suppling more modern stock where the buyers are younger.

Financial key performance indicators
	Year to	Year to
	31st March	31st March
	2025	2024
	£	£
Turnover	29,332,707	16,984,198
Profit on ordinary activities before taxation	2,302,266	899,779
Cash balances	15,651,808	15,637,002
Net increase/(decrease) in cash	14,806	6,452,591
Gross profit percentage	8.2%	6.3%

This report was approved by the board on 13 June 2025 and signed by its order.



J A Collins
Director

Talacrest 2000 AD Limited
Independent auditor's report
to the member of Talacrest 2000 AD Limited

Opinion

We have audited the financial statements of Talacrest 2000 AD Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including 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 the 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 31 March 2025 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	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 Auditor’s 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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.

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 strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which 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 directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are 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 directors determine is 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 an auditor’s report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
●	discussions with management regarding known or suspected instances of non-compliance with laws and regulations;

●	obtaining an understanding of controls designed to prevent and detect irregularities, incuding specific consideration of accounting policies relating to significant accounting estimates;
●	obtaining an understanding of the significant laws and regulations impacting the company and the motor retail industry, including data protection laws and regulations.;
●	communicating relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit; and
●	Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 an auditor's report 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.


Jonathan Toop
(Senior Statutory Auditor)		Fides House
for and on behalf of		10 Chertsey Road
J Toop Associates Limited		Woking
Statutory Auditor		Surrey
13 June 2025		GU21 5AB

Talacrest 2000 AD Limited
Income Statement
for the year ended 31 March 2025


Notes		2025		2024
£			£

Turnover	2	29,332,707		16,984,198

Cost of sales		(26,926,054)		(15,909,844)

Gross profit		2,406,653		1,074,354

Administrative expenses		(473,909)		(485,017)

Operating profit	3	1,932,744		589,337

Interest receivable		375,901		311,266
Interest payable	5	(6,379)		(824)

Profit on ordinary activities before taxation		2,302,266		899,779

Tax on profit on ordinary activities	6	(575,590)		(225,023)

Profit for the financial year		1,726,676		674,756


The company has no recognised gains and losses for the year apart from the results above.

Talacrest 2000 AD Limited
Statement of Financial Position
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	7		1,417			3,685
Tangible assets	8		1,491			4,399
			2,908			8,084

Current assets
Stocks	9	14,086,581			12,187,185
Debtors	10	1,699,469			217,383
Cash at bank and in hand		15,651,808			15,637,002
		31,437,858			28,041,570

Creditors: amounts falling due within one year	11	(5,849,095)			(4,184,043)

Net current assets			25,588,763			23,857,527

Total assets less current liabilities			25,591,671			23,865,611


Provisions for liabilities
Deferred taxation	12		-			(616)

Net assets			25,591,671			23,864,995

Capital and reserves
Called up share capital	13		100			100
Profit and loss account	14		25,591,571			23,864,895

Total equity			25,591,671			23,864,995




J A Collins
Director
Approved by the board on 13 June 2025

Talacrest 2000 AD Limited
Statement of Changes in Equity
for the year ended 31 March 2025

Share		Profit		Total
capital		and loss
account
£		£		£

At 1 April 2023	100		23,540,139		23,540,239

Profit for the financial year			674,756		674,756

Dividends			(350,000)		(350,000)

At 31 March 2024	100		23,864,895		23,864,995



At 1 April 2024	100		23,864,895		23,864,995

Profit for the financial year			1,726,676		1,726,676


At 31 March 2025	100		25,591,571		25,591,671

Talacrest 2000 AD Limited
Statement of Cash Flows
for the year ended 31 March 2025

Notes	2025		2024
£		£
Operating activities
Profit for the financial year	1,726,676		674,756

Adjustments for:
Interest receivable	(375,901)		(311,266)
Interest payable	6,379		824
Tax on profit on ordinary activities	575,590		225,023
Depreciation	2,908		12,264
Amortisation of goodwill	2,710		2,906
(Increase)/decrease in stocks	(1,899,396)		787,614
(Increase)/decrease in debtors	(1,482,086)		2,342,131
Increase in creditors	1,340,871		3,121,684
	(102,249)		6,855,936

Interest received	375,901		311,266
Interest paid	(6,379)		(824)
Corporation tax paid	(252,025)		(363,787)

Cash generated by operating activities	15,248		6,802,591

Investing activities
Payments to acquire intangible fixed assets	(442)		-

Cash used in investing activities	(442)		-

Financing activities
Equity dividends paid	-		(350,000)

Cash used in financing activities	-		(350,000)

Net cash generated
Cash generated by operating activities	15,248		6,802,591
Cash used in investing activities	(442)		-
Cash used in financing activities	-		(350,000)

Net cash generated	14,806		6,452,591

Cash and cash equivalents at 1 April	15,637,002		9,184,411
Cash and cash equivalents at 31 March	15,651,808		15,637,002

Cash and cash equivalents comprise:
Cash at bank	15,651,808		15,637,002

Talacrest 2000 AD Limited
Notes to the Accounts
for the year ended 31 March 2025

1	Summary of significant accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Goodwill	20% straight line
	Trademarks	10% straight line

	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			15% straight line


	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price).

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Analysis of turnover					2025		2024
£							£

	Sale of goods					28,784,151		16,824,959
	Services rendered					253,906		159,239
	Commissions					294,650		-
						29,332,707		16,984,198

	By geographical market:

	UK					21,734,933		13,144,265
	Europe					7,158,160		3,839,933
	North America					439,614		-
						29,332,707		16,984,198


3	Operating profit					2025		2024
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					2,908		12,264
	Amortisation of goodwill					2,710		2,906
	Auditors' remuneration for audit services					9,000		8,700
	Carrying amount of stock sold					26,766,054		15,792,844


4	Staff costs					2025		2024
£							£

	Wages and salaries					53,766		56,746
	Social security costs					-		62
	Other pension costs					-		-
						53,766		56,808


	Average number of employees during the year					Number	Number

	Administration					2		3
	Sales					1		1
						3		4


5	Interest payable					2025		2024
£							£

	Other loans					6,379		824


6	Taxation					2025		2024
£							£
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period					576,206		227,982

	Deferred tax:
	Origination and reversal of timing differences					(616)		(2,959)


	Tax on profit on ordinary activities					575,590		225,023


	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:

						2025		2024
£							£
	Profit on ordinary activities before tax					2,302,266		899,779

	Standard rate of corporation tax in the UK					25%		25%

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					575,567		224,945

	Effects of:
	Expenses not deductible for tax purposes					639		3,037

	Current tax charge for period					576,206		227,982


	Factors that may affect future tax charges
	The company expects accelerated capital allowances in the current year to reverse in future years.


7	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2024							65,816
	Additions							442
	At 31 March 2025							66,258

	Amortisation
	At 1 April 2024							62,131
	Provided during the year							2,710
	At 31 March 2025							64,841

	Carrying amount
	At 31 March 2025							1,417
	At 31 March 2024							3,685

	Goodwill is fully amortised


8	Tangible fixed assets
								Plant and machinery
								At cost
£
	Cost or valuation
	At 1 April 2024							267,761
	Disposals							(29,472)
	At 31 March 2025							238,289

	Depreciation
	At 1 April 2024							263,362
	Charge for the year							2,908
	On disposals							(29,472)
	At 31 March 2025							236,798

	Carrying amount
	At 31 March 2025							1,491
	At 31 March 2024							4,399



9	Stocks					2025		2024
£							£

	Finished goods and goods for resale					14,086,581		12,187,185


10	Debtors					2025		2024
£							£

	Trade debtors					1,681,261		206,340
	Other debtors					9,499		1,499
	Prepayments and accrued income					8,709		9,544
						1,699,469		217,383


11	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					5,356,885		3,862,501
	Corporation tax					336,176		11,995
	Other taxes and social security costs					113,830		150,564
	Other creditors					33,135		143,658
	Accruals and deferred income					9,069		15,325
						5,849,095		4,184,043


12	Deferred taxation					2025		2024
£							£

	Accelerated capital allowances					-		616


						2025		2024
£							£

	At 1 April					616		3,575
	Credited to the profit and loss account					(616)		(2,959)

	At 31 March					-		616



13	Share capital	Nominal		2025		2025		2024
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100


14	Profit and loss account					2025		2024
£							£

	At 1 April					23,864,895		23,540,139
	Profit for the financial year					1,726,676		674,756
	Dividends					-		(350,000)

	At 31 March					25,591,571		23,864,895

15	Related party transactions

	The loan from J A Collins the company's director is repayable on demand and is secured by a fixed and floating charge on the assets of the company. Interest is chargeable on the loan at 3.25% over the Bank of England base rate.
						2025		2024
£							£
	Amount due to J A Collins					(33,135)		(143,639)
	Interest received on short term loan to director					4,236		26,883
	Interest charged on loan to director					5,224		343
	Dividends					-		350,000

	During the year the company made short term loans of £1,000,000 ( 2024-£3,215,817) to the director which were charged interest at official rates and were repaid during the year.


16	Controlling party

	The company is controlled by J. A. Collins on account of him holding 100% of the equity share capital.


17	Presentation currency

	The financial statements are presented in Sterling.


18	Legal form of entity and country of incorporation

	Talacrest 2000 AD Limited is a private company limited by shares and incorporated in England.


19	Principal place of business

	The address of the company's registered office is:

	Fides House
	10 Chertsey Road
	Woking
	Surrey
	GU21 5AB