TALISMAN_MARKETING_SOLUTI - Accounts

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Preparation of consolidated financial statements The financial statements contain information about Talisman Marketing Solutions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. Exemption from preparing a cash flow statement Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Preparation of consolidated financial statements

The financial statements contain information about Talisman Marketing Solutions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

The directors have considered the disclosures in the financial statements of Moneyspider Holdings Ltd and Moneyspider Ltd, which are associated undertakings, concerning their basis of preparation. The accounting policy notes state:

These accounts have been prepared on a going concern basis which assumes that the entity can continue to trade for at least 12 months from the date of approval of the accounts being 23rd September 2015. The licence agreement for Moneyspider expires in February 2016. The directors of Moneyspider are exploring the company's future strategy and the company's. On this basis no impairment is deemed to be provided.

If either the company or Moneyspider Limited were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any potential liabilities that may arise.

Talisman Marketing Solutions Limited holds an investment in Moneyspider Holdings Limited of £833,691 (2014: £833,691). There is a provision for impairment of £220,612 that was made in 2009 and an additional provision was made for £185,000 in 2011. The net provision is therefore £405,612 as at 31st December 2014. The directors expect this investment to be recoverable but draw attention to the unaudited accounts of those associated companies which have themselves been prepared on a going concern basis. Even if the investments become irrecoverable, in the opinion of the directors, this would not affect Talisman Marketing Solutions Limited's ability to continue to trade as a going concern.

Work in progress is valued at the lower of cost and net realisable value. Cost includes materials and bought in subcontract labour. Long-term work in progress is calculated in accordance with accounting standards and included as such with attributable profit in accordance with SSAP 9 and FRS 5.

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Deferred tax assets are recognised to the extent that they are regarded as recoverable. This is assessed on the basis of all available evidence and that it is regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Turnover

The turnover and profit before taxation are attributable to one principal activity of the company, that as disclosed in the director's report, and all of that business is within the United Kingdom.

Moneyspider Holdings Limited has a 100% shareholding in Moneyspider Limited, a company incorporated in England whose nature of business is investment reporting services. The accounts of these entities are not consolidated as there is no need to. In essence, if consolidated accounts were prepared, it would show that the consolidated entity would have negative reserves of approximately £105,186. Talisman Marketing Solutions Limited have investments in Moneyspider Holdings Limited of £428,079 as at 31st December 2014.

During the period the company brought back 6,567 preference shares for a consideration of £1.00 per share.