TalkOut Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12013248 (England and Wales)

TALKOUT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 MAY 2019 TO 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

Directors:

M J S Cockburn

Mrs A Cockburn

Registered office:

4 Vicarage Road

Edgbaston

Birmingham

B15 3ES

Registered number:

12013248 (England and Wales)

FIXED ASSETS

Intangible assets

4

2,493

Tangible assets

5

6,460

8,953

CURRENT ASSETS

Debtors

6

24,977

Cash at bank and in hand

477

25,454

CREDITORS

Amounts falling due within one year

7

253,343

NET CURRENT LIABILITIES

(227,889

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(218,936

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(219,036

)

(218,936

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2021 and were signed on its behalf by:

M J S Cockburn - Director

1.	Statutory information

TalkOut Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the period was 2 .

4.	Intangible fixed assets

Patents

and

licences

£

Cost

Additions

2,493

At 31 December 2019

2,493

Net book value

At 31 December 2019

2,493

5.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

Additions

7,452

At 31 December 2019

7,452

Depreciation

Charge for period

992

At 31 December 2019

992

Net book value

At 31 December 2019

6,460

6.

Debtors: amounts falling due within one year

£

Trade debtors

900

Other debtors

24,077

24,977

7.

Creditors: amounts falling due within one year

£

Trade creditors

1,347

Amounts owed to associates

243,459

Taxation and social security

8,037

Other creditors

500

253,343

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

7,789

Between one and five years

19,131

26,920

9.	Related party disclosures

Number One Park Limited