Company No: 13412376 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	F Alizadeh Ghenavat
	S D Elghanayan
	A D Rahamim

REGISTERED OFFICE	54 Brook's Mews
	London
	W1K 4EF
	United Kingdom

COMPANY NUMBER

13412376 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	Onslow House
	Onslow Street
	Guildford
	GU1 4TL

	Note	2025		2024
		£		£
				Restated - note 3
Current assets
Stocks	5	11,686,289		11,686,289
Debtors	6	580,454		616,555
Cash at bank and in hand		448,076		636,822
		12,714,819		12,939,666
Creditors: amounts falling due within one year	7	( 13,769,686)		( 6,421,532)
Net current (liabilities)/assets		(1,054,867)		6,518,134
Total assets less current liabilities		(1,054,867)		6,518,134
Creditors: amounts falling due after more than one year	8	0		( 7,356,705)
Net liabilities		( 1,054,867)		( 838,571)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 1,054,967 )		( 838,671 )
Total shareholder's deficit		( 1,054,867)		( 838,571)

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Talisker House Limited (registered number: 13412376) were approved and authorised for issue by the Board of Directors on 22 October 2026. They were signed on its behalf by:

A D Rahamim Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Talisker House Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 54 Brook's Mews, Mayfair, London, W1K 4EF.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Talisker House Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The Directors have carefully reviewed the future prospects of the company and have agreed to continue to support the company to meet its day to day working capital requirements, having assessed this the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from signing of these financial statements. The parent company has provided confirmation that it will continue to support the company.

The financial statements have therefore been prepared on a going concern basis as the directors of the Company are satisfied that financial support from the parent company will be available when required.

Prior year adjustment

Material errors relating to prior periods are corrected by restating comparative figures and adjusting opening reserves where necessary. The effect of any prior year adjustment is disclosed in the notes to the financial statements.

Foreign currency

The Company's functional and presentational currency is GBP.

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction;and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

No Significant judgments have had to be made by the directors in preparing these financial statements.

3. Prior year adjustment

During the year, the Company identified that certain expenses and bank loan interest relating to prior periods had not been recognised in the financial statements. In addition, commission income in the year ended 31 December 2023 had been recognised incorrectly. As a result, a prior period adjustment has been made, with comparative figures restated and opening reserves adjusted to reflect the correct accounting treatment.

		As previously reported		Adjustment		As restated
Year ended 31 May 2024		£		£		£
Other debtors		596,623		(59,085)		537,538
Profit and loss Account		903,458		(64,787)		838,671
Bank		792,095		(155,273)		636,822
Bank loans		(7,585,748)		229,043		(7,356,705)

4. Employees

	2025		2024
	Number		Number
The Company has no employees other than the directors, who did not receive any remuneration.	0		0

5. Stocks

	2025		2024
	£		£
Stocks	11,686,289		11,686,289

6. Debtors

	2025		2024
	£		£
Trade debtors	21,624		79,017
Other debtors	558,830		537,538
	580,454		616,555

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		18,231
Amounts owed to Group undertakings	5,795,320		5,795,320
Other loans	7,933,750		577,045
Accruals	40,616		30,936
	13,769,686		6,421,532

The company has entered into a financing arrangement under which an asset is purchased and resold to the company at a fixed deferred sale price which includes a profit element every quarter. The liability is recorded at amortised cost, with the profit element recognised as a finance cost over the term of the agreement. The loan is secured by fixed and floating charges over the assets of the Company, including its property.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	0		7,356,705

The loan is secured against the fixed and floating charge on the assets of the company, including its property and is repayable as referred under the note above, Creditors: amounts falling due within one year.

9. Related party transactions

At the balance sheet date, within other creditors is £5,142,420 (2024: £5,142,420) owed to parent company Damm Capital Ltd. Also, within other creditors is £652,900 (2024: £652,900), provided by another company having benefical interest. These loans are interest free, unsecured and repayable on demand. Also, included in other debtors is £495,486 (2024: £495,486) owed by another company with beneficial interest.

10. Ultimate controlling party

Parent Company:

Damm Capital Ltd

45 Gresham Street, London, EC2V 7BG