TalkOut VR Limited - Accounts to registrar (filleted) - small 18.2
TalkOut VR Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
TALKOUT VR LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
TALKOUT VR LIMITED (REGISTERED NUMBER: 09180987) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 5 |
TALKOUT VR LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
Directors: |
Registered office: |
Registered number: |
TALKOUT VR LIMITED (REGISTERED NUMBER: 09180987) |
BALANCE SHEET |
31 DECEMBER 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
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 |
TALKOUT VR LIMITED (REGISTERED NUMBER: 09180987) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
1. | Statutory information |
TalkOut VR Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
No depreciation is provided on freehold property as the company follows a programme of regularly refurbishment, as such the director's feel that any depreciation would result in an understatement of land and buildings. |
Taxation |
Taxation for the year 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 year 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 year was |
TALKOUT VR LIMITED (REGISTERED NUMBER: 09180987) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 January 2020 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2020 |
Depreciation |
At 1 January 2020 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2020 |
Net book value |
At 31 December 2020 |
At 31 December 2019 |
5. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
Amounts owed by associates |
Other debtors |
6. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 269,328 | - |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 109,877 |
8. | Secured debts |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Bank loans |
Bank loan are secured by way of a fixed charge over the land and buildings owned by the company and a floating charge over all assets of the company. |
TALKOUT VR LIMITED (REGISTERED NUMBER: 09180987) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
9. | Related party disclosures |
The Martin James Group Limited |
A company in which MJS Cockburn and Mrs A Cockburn have an interest |
2020 | 2019 |
£ | £ |
Amounts due to associated company as at the balance sheet date | 257,001 | - |
TalkOut Holding Limited |
A group company |
2020 | 2019 |
£ | £ |
Amounts due to group company as at the balance sheet date | 164,562 | - |
TalkOut Tech Limited |
A company group company |
2020 | 2019 |
£ | £ |
Amounts due to group company as at the balance sheet date | 10,395 | - |
Antser Holdings Limited |
A company in which MJS Cockburn has an interest |
2020 | 2019 |
£ | £ |
Amounts due from associated company as at the balance sheet date | 15,277 | - |
Cornerstone Training and Support Limited |
A company in which MJS Cockburn has an interest |
2020 | 2019 |
£ | £ |
Amounts due from associated company as at the balance sheet date | 61,108 | - |
FosterTalk Limited |
A company in which MJS Cockburn has an interest |
2020 | 2019 |
£ | £ |
Amounts due from associated company as at the balance sheet date | 18,000 | - |
TalkOut Limited |
A company in which MJS Cockburn has an interest |
2020 | 2019 |
£ | £ |
Amounts due from associated company as at the balance sheet date | 12,327 | - |
10. | Ultimate controlling party |
The ultimate controlling party is Mrs A Cockburn, by virtue of her controlling interest in the ultimate parent company. |
The ultimate parent company is TalkOut Holding Limited |
11. | Grants |
Grants are recognised at the fair value of assets received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. |
12. | Going concern |
The accounts have been prepared on a going concern basis which the directors consider appropriate. The company relies on support from the shareholders, which is considered to be available for the foreseeable future and for at least the next twelve months from the date of approval of the accounts. Should the going concern basis not be applicable adjustments would have to be made to reduce assets to their recoverable amounts and reclassify long term liabilities as short-term liabilities. |