TALENT EXCHANGE (TALEX) CIC

Company Registration Number:
12922255 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

TALENT EXCHANGE (TALEX) CIC

Contents of the Financial Statements

for the Period Ended 31 October 2023

Profit and loss
Balance sheet
Additional notes
Community Interest Report

TALENT EXCHANGE (TALEX) CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 29,600 12,650
Cost of sales: ( 27,741 ) ( 11,799 )
Gross profit(or loss): 1,859 851
Operating profit(or loss): 1,859 851
Profit(or loss) before tax: 1,859 851
Profit(or loss) for the financial year: 1,859 851

TALENT EXCHANGE (TALEX) CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 2,709 851
Total current assets: 2,709 851
Net current assets (liabilities): 2,709 851
Total assets less current liabilities: 2,709 851
Total net assets (liabilities): 2,709 851
Capital and reserves
Called up share capital: 1 1
Other reserves: 2,708 850
Total Shareholders' funds: 2,709 851

The notes form part of these financial statements

TALENT EXCHANGE (TALEX) CIC

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 6 September 2024
and signed on behalf of the board by:

Name: David Wreford
Status: Director

The notes form part of these financial statements

TALENT EXCHANGE (TALEX) CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

TALENT EXCHANGE (TALEX) CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

COMMUNITY INTEREST ANNUAL REPORT

TALENT EXCHANGE (TALEX) CIC

Company Number: 12922255 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

Our purpose There are 900,000+ employees working in the charity sector. There is a 20% employee turnover rate and 80% of vacancies are filled with external hires at an average cost of over £1,800 per position. This creates an expense to the sector of around £300 million each year. This is a massive tangible expense and also creates disruption, impacting the services to beneficiaries. From the employees’ perspective the fact that so few vacancies are filled with internal candidates impacts engagement and fuels the problem. Charities tend to underinvest in their people management programmes, for a number of reasons, including a belief that donors expect the maximum proportion of their donations to reach the end cause. Talent Exchange was set up in 2020 to enrich the careers of charity sector workers through research, insight, best practices tailored to the sector and advice. Our solutions In 2021 we co-developed people management frameworks with a number of charities. Since 2022 we have provided advice to charities. This consisted of one-off projects ranging from informal advice and support, to more extensive projects. Mostly on a pro bono basis. In addition we started sourcing suppliers at negotiated discounts for related technology, data and services. And we are now partnering with the Charity HR Network (CHRN), through a special interest group, to advice their members on related themes, also on a pro bono basis. We are also involved in the development of insights into HR trends in the sector. Impact We believe that investing in effective people management practices will improve engagement, enhance staff retention, save money and improve services to beneficiaries.

Consultation with stakeholders

Since 2022 we have developed a formal relationship with the Charity HR Network to develop relationships with their members. We are also represented at the Association of Chief Executives in Voluntary Organisations (ACEVO) and are actively involved in supporting the members on related matters. We have also started to identify collaborative opportunities with the Centre for Charity Effectiveness.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
6 September 2024

And signed on behalf of the board by:
Name: David Wreford
Status: Director