Talis Construction Ltd - Period Ending 2026-02-28

Registration number: NI651021

Talis Construction Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2026

Talis Construction Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 11

Talis Construction Ltd

(Registration number: NI651021)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	66,840	67,710
Current assets
Stocks	5	1,271,000	996,000
Debtors	6	188,239	9,522
Cash at bank and in hand		491,343	48,337
		1,950,582	1,053,859
Creditors: Amounts falling due within one year	7	(1,719,227)	(967,332)
Net current assets		231,355	86,527
Total assets less current liabilities		298,195	154,237
Creditors: Amounts falling due after more than one year	7	(30,539)	(43,651)
Provisions for liabilities		(16,710)	-
Net assets		250,946	110,586
Capital and reserves
Called up share capital	8	2	2
Retained earnings		250,944	110,584
Shareholders' funds		250,946	110,586

For the financial year ending 28 February 2026 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 and 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.

Talis Construction Ltd

(Registration number: NI651021)
Balance Sheet as at 28 February 2026

Approved and authorised by the Board on 21 May 2026 and signed on its behalf by:

.........................................
Mr Paul Simpson
Director

.........................................
Mr Samuel Moore
Director

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

1	General information

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

The address of its registered office is:
51-53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ
Northern Ireland

The principal place of business is:
74 Raceview Road
Broughshane
Ballymena
Co Antrim
BT42 4HY

These financial statements were authorised for issue by the Board on 21 May 2026.

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 presentational currency of these financial statements is sterling and amounts have been rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The directors believe that the company will continue as a going concern and be able to realise its assets and discharge its liabilties in the normal course of business.

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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
Other property, plant and equipment	20% reducing balance
Motor vehicles	20% reducing balance

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.

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

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. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Financial instruments

Classification
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the related contracttual arrangements. An equity arrangement is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction.

Basic financial instruments are initially recognised by transaction value and subsequently measured at their settlement value.
Other financial instruments not meeting the definition of basic financial instruments are recognised initially at fair value. Subsequently, other financial instruments are measured at fair value with changes recognised in profit or loss.

Impairment
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cashflows, discounted at the financial asset's original effective interest rate. For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2025 - 1).

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

4	Tangible assets

Motor vehicles
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2025

34,950

45,000

79,950

Additions

8,790

4,783

13,573

At 28 February 2026

43,740

49,783

93,523

Depreciation

At 1 March 2025

6,990

5,250

12,240

Charge for the year

5,958

8,485

14,443

At 28 February 2026

12,948

13,735

26,683

Carrying amount

At 28 February 2026

30,792

36,048

66,840

At 28 February 2025

27,960

39,750

67,710

5

Stocks

2026
£

2025
£

Work in progress

1,271,000

996,000

6

Debtors

2026
£

2025
£

Trade debtors

150,572

-

Other debtors

30,488

6,850

Prepayments

7,179

2,672

188,239

9,522

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Bank loans and overdrafts	9	14,747	16,382
Trade creditors		187,198	12,714
Taxation and social security		19,173	8,748
Accruals and deferred income		5,430	3,234
Other creditors		1,492,679	926,254
		1,719,227	967,332

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £14,747 (2025 - £16,382).

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	30,539	43,651

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £30,539 (2025 - £43,651).

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £

Hire purchase contracts	30,539	43,651

Current loans and borrowings

	2026 £	2025 £

Hire purchase contracts	14,747	16,382

10	Related party transactions

Key management personnel

The company's key management personnel are deemed to be the directors.

Summary of transactions with key management

During prior years, the directors funded the purchase of goods and services which remain owing to the directors at the current and prior year ends.

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

Directors' remuneration

The directors' remuneration for the year was as follows:

	2026 £	2025 £
Remuneration	81,250	80,000

Summary of transactions with entities with joint control or significant interest

During the current and prior year, a company under common control funded the purchase of property, goods and services which remain outstanding at the year end. In addition, in the current and prior year, Talis Construction Limited purchased goods from a company under common control.

Expenditure with and payables to related parties

2026	Entities with joint control or significant influence £	Key management £
Purchase of goods	8,639	-
Amounts payable to related party	-	129

2025	Entities with joint control or significant influence £	Key management £
Purchase of goods	2,002	-
Amounts payable to related party	-	129

Loans from related parties

2026	Entities with joint control or significant influence £	Key management £	Total £
At start of period	682,000	244,124	926,124
Advanced	472,000	-	472,000
Interest transactions	64,260	17,089	81,349
At end of period	1,218,260	261,213	1,479,473

Talis Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026

2025	Entities with joint control or significant influence £	Key management £	Total £
At start of period	1,004,000	244,124	1,248,124
Advanced	1,103,000	-	1,103,000
Repaid	(1,425,000)	-	(1,425,000)
At end of period	682,000	244,124	926,124

Terms of loans from related parties

Loans from related parties are repayable on demand, denominated in sterling and accruing interest.

11	Parent and ultimate parent undertaking

The ultimate controlling party is Samuel Moore and Paul Simpson.

	Motor vehicles £	Other tangible assets £	Total £
Cost or valuation
At 1 March 2025	34,950	45,000	79,950
Additions	8,790	4,783	13,573
At 28 February 2026	43,740	49,783	93,523
Depreciation
At 1 March 2025	6,990	5,250	12,240
Charge for the year	5,958	8,485	14,443
At 28 February 2026	12,948	13,735	26,683
Carrying amount
At 28 February 2026	30,792	36,048	66,840
At 28 February 2025	27,960	39,750	67,710