Company Registration No. 12291330 (England and Wales)
Adapt talent Limited
Unaudited accounts
for the year ended 31 December 2023
Adapt talent Limited
Unaudited accounts
Contents
Adapt talent Limited
Company Information
for the year ended 31 December 2023
Directors
Mr J Barker
Mr S Marsh
Company Number
12291330 (England and Wales)
Registered Office
Bowden House
Luckyn Lane
Basildon
Essex
SS14 3AX
Accountants
Beckett Taylor Limited
63-66 Hatton Garden
London
EC1N 8LE
Adapt talent Limited
Statement of financial position
as at 31 December 2023
Tangible assets
72,982
83,089
Cash at bank and in hand
233,324
751,984
Creditors: amounts falling due within one year
(1,075,869)
(1,318,484)
Net current assets
41,966
59,960
Total assets less current liabilities
114,948
143,049
Provisions for liabilities
Deferred tax
(16,640)
(15,787)
Called up share capital
100
100
Profit and loss account
98,208
127,162
Shareholders' funds
98,308
127,262
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by
Mr J Barker
Director
Company Registration No. 12291330
Adapt talent Limited
Notes to the Accounts
for the year ended 31 December 2023
Adapt talent Limited is a private company, limited by shares, registered in England and Wales, registration number 12291330. The registered office is Bowden House, Luckyn Lane, Basildon, Essex, SS14 3AX.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
Computer equipment
20% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Adapt talent Limited
Notes to the Accounts
for the year ended 31 December 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
61,950
39,796
101,746
At 31 December 2023
61,950
47,092
109,042
At 1 January 2023
7,228
11,429
18,657
Charge for the year
10,944
6,459
17,403
At 31 December 2023
18,172
17,888
36,060
At 31 December 2023
43,778
29,204
72,982
At 31 December 2022
54,722
28,367
83,089
Amounts falling due within one year
Trade debtors
114,494
204,894
Accrued income and prepayments
9,061
50,000
Other debtors
743,682
370,443
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Creditors: amounts falling due within one year
2023
2022
Taxes and social security
53,419
45,885
Other creditors
935,867
1,265,725
Loans from directors
84,333
5,124
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Transactions with related parties
At the year-end date, the company was owed £743,683 (2022 £371,620) by related parties. The company also owed £934,202 (2022 £1,265,728) to related parties at the year-end.
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Average number of employees
During the year the average number of employees was 10 (2022: 9).