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Company Registration Number: 2275374
The Talacre Action Group (A company limited by guarantee, not having a share capital) Directors’ Report and Unaudited Financial Statements for the financial year ended 31 March 2024
Tom Carolan & Co Chartered Accountants 33 Austin Friar Street Mullingar Co. Westmeath N91 NR52 lreland
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The Talacre Action Group
(A company limited by guarantee, not having a share capital) CONTENTS
| Page | |
|---|---|
| Directors and Other Information | 3 |
| Directors’ Report | 4 |
| Accountants’ Report | 5 |
| Income Statement | 6 |
| Balance Sheet | 7 |
| StatementofChanges in Equity | 8 |
| Notes to the Financial Statements | 9-11 |
| SupplementaryInformationonTradingStatement | 13-15 |
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The Talacre Action Group (A company limited by guarantee, not having a share capital) DIRECTORS AND OTHER INFORMATION
Directors
Muriel Fowler Peter John Horne Sibylle Hubert (Resigned 23 October 2023) John Lipetz (Resigned 15 December 2023) Catherine Vidal
Company Secretary
Paulette King
Company Registration Number
2275374
Registered Office and Business Address
The Adventure Building Wilkin Street Kentish Town London NW5 2AG England
Accountants
Tom Carolan & Co Chartered Accountants 33 Austin Friar Street Mullingar Co. Westmeath N91 NR52 Ireland
Bankers
Lloyds Bank
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The Talacre Action Group (A company limited by guarantee, not having a share capital) DIRECTORS’ REPORT
for the financial year ended 31 March 2024
The directors present their report and the unaudited financial statements for the financial year ended 31 March 2024.
Principal Activity
The Company operates the Talacre Adventure Centre at Wilkin Street, Kentish Town, London NW5.
The Company is limited by guarantee not having a share capital.
Directors
The directors who served during the financial year are as follows:
Muriel Fowler
Peter John Horne Sibylle Hubert (Resigned 23 October 2023) John Lipetz (Resigned 15 December 2023) Catherine Vidal
There were no changes in shareholdings between 31 March 2024 and the date of signing the financial statements.
In accordance with the Constitution, the directors retire by rotation and, being eligible, offer themselves for re-election.
Political Contributions
The company did not make any disclosable political donations in the current financial year.
Statement of Directors’ Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- m select suitable accounting policies and apply them consistently; = make judgements and accounting estimates that are reasonable and prudent; m prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
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°
Muriel Fowler
Director
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Peter John Horne
Director
9 August 2024
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The Talacre Action Group
(A company limited by guarantee, not having a share capital) CHARTERED ACCOUNTANTS’ REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of The Talacre Action Group for the financial year ended 31 March 2024
In accordance with our engagement letter dated 9 August 2024 and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 March 2024 as set out on pages 6 to 11 which comprise the Income Statement, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given to us.
This report is made solely to the Board of Directors of The Talacre Action Group, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
We have carried out this engagement in accordance with guidance issued by Institute of Chartered Accountants in Ireland and have complied with the relevant ethical guidance laid down by Institute of Chartered Accountants in Ireland relating to members undertaking the compilation of financial statements.
You have acknowledged on the Balance Sheet for the year ended 31 March 2024 your duty to ensure that The Talacre Action Group has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Talacre Action Group. You consider that The Talacre Action Group is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of The Talacre Action Group. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
TOM CAROLAN & CO
Chartered Accountants
33 Austin Friar Street Mullingar Co. Westmeath N91 NR52 Ireland
9 August 2024
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The Talacre Action Group (A company limited by guarantee, not having a share capital) INCOME STATEMENT
for the financial year ended 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Revenue | 141,991 | 123,327 | |
| Gross profit | 141,991 | 123,327 | |
| Administrative expenses | (125,682) | (155,206) | |
| Other operating income | - | 5,200 | |
| Operating profit/(loss) | 16,309 | (26,679) | |
| Interest receivable and similar income | 272 | 43 | |
| Profit/(loss) before taxation | 16,581 | (26,636) | |
| Taxon profit/(loss) | - | - | |
| Profit/(loss) forthe financial year | 16,581 | (26,636) | |
| Totalcomprehensiveincome | 16,581 | (26,636) |
The notes on pages 9 to 11 form part of the financial statements
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The Talacre Action Group (A company limited by guarantee, not having a share capital) Company Registration Number: 2275374 BALANCE SHEET
as at 31 March 2024
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|---|---|---|---|---|---|---|---|---|---|
|2024|2023|
|Notes|£|£|
|Fixed|Assets|
|Tangible|assets|4|1,921|2,545|
|Current Assets|
|Debtors|5|4,130|2,209|
|Cash|and|cash|equivalents|45,761|22,046|
|49,891|24,255|
|Creditors:|amounts|falling|due|within|one|year|6|(17,755)|(9,324)|
|Net|Current Assets|32,136|14,931|
|Total|Assets|less|Current|Liabilities|34,057|17,476|
|Reserves|
|Retained|surplus|34,057|17,476|
|Equity|attributable|to owners|of the|company|34,057|17,476|
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
Approved by the Board and authorised for issue on 9 August 2024 and signed on its behalf by
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Muriel a
Director
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Peter John Horne
Director
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The notes on pages 9 to 11 form part of the financial statements
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The Talacre Action Group
(A company limited by guarantee, not having a share capital) STATEMENT OF CHANGES IN EQUITY as at 31 March 2024
| as at 31 March 2024 | ||
|---|---|---|
| Retained | Total | |
| surplus | ||
| £ | £ | |
| At 1 April 2022 | 44,112 | 44,112 |
| Loss for the financial year | (26,636) | (26,636) |
| At 31 March 2023 | 17,476 | 17,476 |
| Profit forthe financial year | 16,581 | 16,581 |
| At31March2024 | 34,057 | 34,057 |
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The Talacre Action Group NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
.
- General Information
The Talacre Action Group is a company limited by guarantee incorporated and registered in the England. The registered number of the company is 2275374. The registered office of the company is The Adventure Building, Wilkin Street, Kentish Town, London, NW5 2AG, England which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors’ Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
2. Summary of Significant Accounting Policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
Statement of compliance
The financial statements of the company for the financial year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
Fixtures, fittings and equipment - 15% Straight line
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
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.
Trade and other creditors
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.
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately : from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
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aS
continued
The Talacre Action Group NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
- Employees
The average monthly number of employees, including directors, during the financial year was 5, (2023 - 5).
| 2024 | 2023 | ||
|---|---|---|---|
| Number | Number | ||
| Charitable workers | 5 | 5 | |
| 4. | Tangible assets | ||
| Fixtures, | Total | ||
| fittings and | |||
| equipment | |||
| £ | £ | ||
| Cost | |||
| At 1 April 2023 | 34,224 | 34,224 | |
| At 31 March 2024 | 34,224 | 34,224 | |
| Depreciation | |||
| At 1 April 2023 | 31,679 | 31,679 | |
| 624 | 624 | ||
| Charge for the year | |||
| At 31 March 2024 | 32,303 | 32,303 | |
| Net book value | |||
| At 31 March 2024 | 1,921 | 1,921 | |
| At31March2023 | 1,921 | 1,921 |
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continued
The Talacre Action Group NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
| 5. | Debtors | 2024 | 2023 | |
|---|---|---|---|---|
| £ | £ | |||
| Otherdebtors | - | 5 | ||
| Taxation | (Note 7) | 1,836 | - | |
| Prepayments and accrued income | 2,294 | 2,204 | ||
| 4,130 | 2,209 | |||
| 6. | Creditors | 2024 | 2023 | |
| Amounts | fallingdue within one year | £ | £ | |
| Trade creditors | 13,612 | (355) | ||
| Other creditors | 2,393 | - | ||
| Accruals | 1,750 | 9,679 | ||
| 17,755 | 9,324 | |||
| 7. | Taxation | 2024 | 2023 | |
| £ | £ | |||
| Debtors: | ||||
| PAYE/NI | 1,836 | - | ||
| 8. | Capitalcommitments |
The company had no material capital commitments at the financial year-ended 31 March 2024.
9. Post-Balance Sheet Events
There have been no significant events affecting the company since the financial year-end.
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THE TALACRE ACTION GROUP (A company limited by guarantee, not having a share capital)
SUPPLEMENTARY INFORMATION
RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
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The Talacre Action Group
(A company limited by guarantee, not having a share capital) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS TRADING STATEMENT
for the financial year ended 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Schedule | £ | £ | |
| Sales | 141,991 | 123,327 | |
| Gross profit Percentage | 100.0% | 100.0% | |
| Overhead expenses | 1 | (125,682) | (155,206) |
| 16,309 | (31,879) | ||
| Miscellaneous income | 2 | 272 | 5,243 |
| Netprofit/(loss) | 16,581 | (26,636) |
The supplementary information does not form part of the financial statements
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The Talacre Action Group
(A company limited by guarantee, not having a share capital) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS SCHEDULE 1 : OVERHEAD EXPENSES for the financial year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Administration Expenses | ||
| Wages and salaries | 99,259 | 109,409 |
| Social security costs | (10,115) | 9,256 |
| Pension costs | 1,784 | 1,943 |
| ASC Expenses | 2,964 | 3,133 |
| Sports Club expenses | 2,693 | 2,840 |
| Rates | 504 | 427 |
| Insurance | 2,663 | 2,924 |
| Lightand heat | 9,077 | 6,573 |
| Repairs and maintenance | 1,200 | 4,501 |
| Printing, postage and stationery | 4,905 | 2,397 |
| Telephone Broadband |
875 | 1,138 |
| Computer costs | 1,850 | 1,507 |
| Travelling and entertainment | - | 440 |
| Accountancy Fees | 5,410 | 5,463 |
| Bank charges | - | 60 |
| Canteen | 1,982 | 2,004 |
| General expenses | 7 | 567 |
| Depreciation of tangible assets | 624 | 624 |
| 125,682 | 155,206 |
The supplementary information does not form part of the financial statements
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SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS SCHEDULE 2 : MISCELLANEOUS INCOME for the financial year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Miscellaneous Income | ||
| Grants received | - | 5,200 |
| Bank Interest | 272 | 43 |
| 272 | 5,243 |