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Registration number: 11411552

Absolute 4 Staff (Stoke) Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Absolute 4 Staff (Stoke) Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Absolute 4 Staff (Stoke) Ltd

(Registration number: 11411552)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

850

Tangible assets

5

3,214

4,551

 

3,214

5,401

Current assets

 

Debtors

6

137,799

118,725

Cash at bank and in hand

 

-

57,260

 

137,799

175,985

Creditors: Amounts falling due within one year

7

(129,331)

(157,736)

Net current assets

 

8,468

18,249

Total assets less current liabilities

 

11,682

23,650

Creditors: Amounts falling due after more than one year

7

(6,823)

(11,372)

Provisions for liabilities

(803)

(865)

Net assets

 

4,056

11,413

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,956

11,313

Shareholders' funds

 

4,056

11,413

 

Absolute 4 Staff (Stoke) Ltd

(Registration number: 11411552)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 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. 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 Board on 7 February 2024 and signed on its behalf by:
 

.........................................
Mrs J M Taylor
Director

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
1 Market Square
Burslem
Stoke-On-Trent
Staffordshire
ST6 3AA
UK

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 that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of services provided 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.

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be
recognised in other operating income on a systematic basis over the periods in which the company recognises
the related costs for which the grant is intended to compensate.

Any amounts outstanding at the year end will be included within other debtors.

Tax

The tax expense for the period comprises current and deferred 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.

The current 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

33.3% Straight line

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Borrowings

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 2).

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

4,250

4,250

At 30 November 2023

4,250

4,250

Amortisation

At 1 December 2022

3,400

3,400

Amortisation charge

850

850

At 30 November 2023

4,250

4,250

Carrying amount

At 30 November 2023

-

-

At 30 November 2022

850

850

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

7,346

7,346

Additions

999

999

At 30 November 2023

8,345

8,345

Depreciation

At 1 December 2022

2,794

2,794

Charge for the year

2,337

2,337

At 30 November 2023

5,131

5,131

Carrying amount

At 30 November 2023

3,214

3,214

At 30 November 2022

4,551

4,551

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

124,541

108,415

Amounts owed by related parties

1,995

-

Prepayments

 

11,263

10,310

   

137,799

118,725

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

18,557

Taxation and social security

23,811

27,662

Other creditors

105,520

111,517

129,331

157,736

Creditors include invoice financing of £67,023 (2022: £76,169) and are secured by way of a fixed charge and floating charge over all property or undertaking of the company.

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,549

4,549

Bank overdrafts

14,574

-

Other borrowings

67,024

76,169

86,147

80,718

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Bank borrowings

6,823

11,372