Datasource Employment Holdings Limited 07188353 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is as a holding company Digita Accounts Production Advanced 6.30.9574.0 true true 07188353 2022-06-01 2023-05-31 07188353 2023-05-31 07188353 core:CurrentFinancialInstruments 2023-05-31 07188353 bus:SmallEntities 2022-06-01 2023-05-31 07188353 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 07188353 bus:FullAccounts 2022-06-01 2023-05-31 07188353 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 07188353 bus:RegisteredOffice 2022-06-01 2023-05-31 07188353 bus:Director3 2022-06-01 2023-05-31 07188353 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07188353 core:Subsidiary1 2022-06-01 2023-05-31 07188353 countries:EnglandWales 2022-06-01 2023-05-31 07188353 2021-06-01 2022-05-31 07188353 2022-05-31 07188353 core:CurrentFinancialInstruments 2022-05-31 07188353 core:Subsidiary1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 07188353

Prepared for the registrar

Datasource Employment Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Datasource Employment Holdings Limited

(Registration number: 07188353)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,400,000

2,400,000

Current assets

 

Debtors

5

290,978

290,978

Cash at bank and in hand

 

20,789

20,891

 

311,767

311,869

Net assets

 

2,711,767

2,711,869

Capital and reserves

 

Called up share capital

10,000

10,000

Profit and loss account

2,701,767

2,701,869

Shareholders' funds

 

2,711,767

2,711,869

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

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 


S J Macleod
Director

   
     
 

Datasource Employment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 May 2023

 

1

General information

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

The address of its registered office is:
83 Promenade
Cheltenham
Gloucestershire
GL50 1PJ

 

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 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 financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Datasource Employment Holdings Limited

Notes to the Financial Statements for the Year Ended 31 May 2023

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,400,000

2,400,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Datasource Computer Employment Limited

83 Promenade
Cheltenham
Gloucestershire
GL50 11PJ

Ordinary

100%

100%

         

The aggregate amount of capital and reserves of Datasource Computer Employment Limited at the end of the period was £729,025.

 

5

Debtors

Note

2023
 £

2022
 £

Amounts owed by related parties

6

290,978

290,978

 

6

Related party transactions

At 31 May 2023, the company was owed £290,978 (2022 - £290,978) by Datasource Computer Employment Limited. This loan is unsecured, interest free and is repayable on demand.