Talon NDT Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC174563

		2019		2018
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		-		3,915

			-		3,915
CURRENT ASSETS
Debtors	4	93,293		141,108
Cash at bank and in hand		14,167		4,491

		107,460		145,599
Creditors: Amounts Falling Due Within One Year	5	(395,484 )		(467,488 )

NET CURRENT ASSETS (LIABILITIES)			(288,024 )		(321,889 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(288,024 )		(317,974 )

Creditors: Amounts Falling Due After More Than One Year	6		(25,924 )		-

NET ASSETS			(313,948 )		(317,974 )

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			(313,949 )		(317,975 )

SHAREHOLDERS' FUNDS			(313,948)		(317,974)

Page 1

Talon NDT Limited

Balance Sheet (continued)

As at 30 April 2019

For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Ian Judge

27/02/2020

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	25% on cost
Plant & Machinery	25% on cost

1.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2019	2018
Office and administration	5	5

	5	5

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Talon NDT Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2019

3. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 May 2018	81,338	290,894	372,232

As at 30 April 2019	81,338	290,894	372,232

Depreciation
As at 1 May 2018	81,338	286,979	368,317
Provided during the period	-	3,915	3,915

As at 30 April 2019	81,338	290,894	372,232

Net Book Value
As at 30 April 2019	-	-	-

As at 1 May 2018	-	3,915	3,915

4. Debtors

	2019	2018
	£	£
Due within one year
Trade debtors	41,230	89,045
Other debtors	52,063	52,063

	93,293	141,108

5. Creditors: Amounts Falling Due Within One Year

	2019	2018
	£	£
Trade creditors	138,926	135,000
Bank loans and overdrafts	-	4,140
Other taxes and social security	3,685	24,678
Other creditors	252,873	303,670

	395,484	467,488

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Talon NDT Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2019

6. Creditors: Amounts Falling Due After More Than One Year

	2019	2018
	£	£
Other creditors	25,924	-

	25,924	-

The company's bankers hold a standard security over the sole director's personal property and a floating charge over the whole assets of the company.

The loan from Morgan Lloyd Trustees Limited is secured via both a fixed charge over any policiesof insurance or assurance, and a floating charge over all the property and undertakings of the company. In addition, the directors have provided personal guarantees for amounts payable.

7. Share Capital

	2019		2018
Allotted, Called up and fully paid	1		1

8. General Information

Talon NDT Limited is a private company, limited by shares, incorporated in Scotland, registered number SC174563. The registered office is 11 Mathew Park, Gilbert Road, Bucksburn, Aberdeen, AB21 9AR.

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