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Registration number: 9471412

Charity Talent Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Charity Talent Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Charity Talent Limited

Company Information

Director

N Engelbrecht

Registered office

Office 2
Tweed House
Park Lane
Swanley
BR8 8DT

Accountants

Mack Business Services Limited
Office 2
Tweed House
Park Lane
Swanley
BR8 8DT

 

Charity Talent Limited

(Registration number: 9471412)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

15,288

14,955

Current assets

 

Debtors

5

54,260

54,526

Cash at bank and in hand

 

128,649

104,903

 

182,909

159,429

Prepayments and accrued income

 

743

1,334

Creditors: Amounts falling due within one year

(71,931)

(34,204)

Net current assets

 

111,721

126,559

Total assets less current liabilities

 

127,009

141,514

Creditors: Amounts falling due after more than one year

(36,667)

(41,667)

Accruals and deferred income

 

(8,936)

(3,600)

Net assets

 

81,406

96,247

Capital and reserves

 

Called up share capital

6

101

101

Retained earnings

81,305

96,146

Shareholders' funds

 

81,406

96,247

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 July 2023
 

 

Charity Talent Limited

(Registration number: 9471412)
Abridged Balance Sheet as at 31 March 2023

.........................................
N Engelbrecht
Director

 

Charity Talent Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Office 2
Tweed House
Park Lane
Swanley
BR8 8DT

The principal place of business is:
3rd Floor
26 Finsbury Square
London
EC2A 1DS

These financial statements were authorised for issue by the director on 24 July 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Charity Talent Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Charity Talent Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 19 (2022 - 3).

 

Charity Talent Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

18,734

4,002

22,736

Additions

1,571

5,525

7,096

At 31 March 2023

20,305

9,527

29,832

Depreciation

At 1 April 2022

4,683

3,098

7,781

Charge for the year

5,076

1,687

6,763

At 31 March 2023

9,759

4,785

14,544

Carrying amount

At 31 March 2023

10,546

4,742

15,288

At 31 March 2022

14,051

904

14,955

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

1

1

1

1

 

101

101

101

101

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £922.00 (2022 - £420.00) per ordinary share

 

92,223

 

42,350

         

8

Related party transactions

 

Charity Talent Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,096

8,840

Contributions paid to money purchase schemes

4,800

3,600

13,896

12,440