Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 12043598 Mr Robert Mould iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12043598 2023-06-30 12043598 2024-06-30 12043598 2023-07-01 2024-06-30 12043598 frs-core:CurrentFinancialInstruments 2024-06-30 12043598 frs-core:Non-currentFinancialInstruments 2024-06-30 12043598 frs-core:ComputerEquipment 2024-06-30 12043598 frs-core:ComputerEquipment 2023-07-01 2024-06-30 12043598 frs-core:ComputerEquipment 2023-06-30 12043598 frs-core:FurnitureFittings 2024-06-30 12043598 frs-core:FurnitureFittings 2023-07-01 2024-06-30 12043598 frs-core:FurnitureFittings 2023-06-30 12043598 frs-core:ShareCapital 2024-06-30 12043598 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 12043598 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12043598 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 12043598 frs-bus:SmallEntities 2023-07-01 2024-06-30 12043598 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12043598 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12043598 frs-bus:Director1 2023-07-01 2024-06-30 12043598 frs-countries:EnglandWales 2023-07-01 2024-06-30 12043598 2022-06-30 12043598 2023-06-30 12043598 2022-07-01 2023-06-30 12043598 frs-core:CurrentFinancialInstruments 2023-06-30 12043598 frs-core:Non-currentFinancialInstruments 2023-06-30 12043598 frs-core:ShareCapital 2023-06-30 12043598 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 12043598
Talentshed Group Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Whyfield Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12043598
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,079 30,628
29,079 30,628
CURRENT ASSETS
Debtors 5 371,128 223,643
Cash at bank and in hand 331,345 189,086
702,473 412,729
Creditors: Amounts Falling Due Within One Year 6 (361,192 ) (299,083 )
NET CURRENT ASSETS (LIABILITIES) 341,281 113,646
TOTAL ASSETS LESS CURRENT LIABILITIES 370,360 144,274
Creditors: Amounts Falling Due After More Than One Year 7 (4,633 ) (10,080 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,269 ) (5,819 )
NET ASSETS 358,458 128,375
CAPITAL AND RESERVES
Called up share capital 8 20,000 20,000
Profit and Loss Account 338,458 108,375
SHAREHOLDERS' FUNDS 358,458 128,375
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Robert Mould
Director
13/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Talentshed Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12043598 . The registered office is Building A Green Court, Truro Business Park, Threemilestone, Truro, TR4 9LF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.3. 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:
Fixtures & Fittings 20% RB
Computer Equipment 20% RB
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 21)
21 21
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 22,457 26,910 49,367
Additions 2,538 2,785 5,323
Disposals (411 ) - (411 )
As at 30 June 2024 24,584 29,695 54,279
Depreciation
As at 1 July 2023 7,533 11,206 18,739
Provided during the period 3,163 3,298 6,461
As at 30 June 2024 10,696 14,504 25,200
Net Book Value
As at 30 June 2024 13,888 15,191 29,079
As at 1 July 2023 14,924 15,704 30,628
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 367,718 197,693
Prepayments and accrued income 2,012 3,548
Other debtors 1,398 22,402
371,128 223,643
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,378 1,022
Bank loans and overdrafts 5,324 4,883
Corporation tax 127,683 47,792
Other taxes and social security 3,215 1,974
VAT 98,056 61,780
CT61 (Current liabilities - creditors < 1 year) - 4,346
Director's loan account 115,536 177,286
361,192 299,083
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,633 10,080
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20,000 20,000
Page 5