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REGISTERED NUMBER: 06033707 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Essential Employment Limited

Essential Employment Limited (Registered number: 06033707)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Essential Employment Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs V A Howson
Mrs B J Fuller





SECRETARY: Mrs B J Fuller





REGISTERED OFFICE: 209 Blackburn Road
Heapey
Chorley
Lancashire
PR6 8EP





REGISTERED NUMBER: 06033707 (England and Wales)





ACCOUNTANTS: Egan Roberts Limited
Accountants
Citygate
Longridge Road
Preston
Lancashire
PR2 5BQ

Essential Employment Limited (Registered number: 06033707)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 9,571 12,135

CURRENT ASSETS
Debtors 5 847,503 520,338
Cash at bank and in hand 21,247 43,964
868,750 564,302
CREDITORS
Amounts falling due within one year 6 757,344 364,898
NET CURRENT ASSETS 111,406 199,404
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,977

211,539

CREDITORS
Amounts falling due after more than
one year

7

(19,823

)

(25,833

)

PROVISIONS FOR LIABILITIES (1,889 ) (3,034 )
NET ASSETS 99,265 182,672

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 10 98,965 182,372
SHAREHOLDERS' FUNDS 99,265 182,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Essential Employment Limited (Registered number: 06033707)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mrs V A Howson - Director


Essential Employment Limited (Registered number: 06033707)

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

1. STATUTORY INFORMATION

Essential Employment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Essential Employment Limited (Registered number: 06033707)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Government grant
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 207 (2022 - 207 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 11,502 14,971 26,473
Additions 194 1,798 1,992
At 31 December 2023 11,696 16,769 28,465
DEPRECIATION
At 1 January 2023 3,441 10,897 14,338
Charge for year 2,281 2,275 4,556
At 31 December 2023 5,722 13,172 18,894
NET BOOK VALUE
At 31 December 2023 5,974 3,597 9,571
At 31 December 2022 8,061 4,074 12,135

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 847,503 520,338

Essential Employment Limited (Registered number: 06033707)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 421,598 105,659
Tax 11,096 26,155
Social security and other taxes 74,187 55,784
VAT 187,963 165,325
Other creditors 57,348 7,090
Directors' loan accounts 1,517 1,460
Accrued expenses 3,635 3,425
757,344 364,898

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 19,823 25,833

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Factoring account 411,598 95,659
Bounce Back Loan 10,000 10,000
421,598 105,659

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,823 15,833

The bank loan is repayable in instalments over 6 years. The loan is guaranteed by the government and
carries an interest of 2.5%.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Factoring creditor 411,598 95,659

The bank have a fixed and floating charge over the company assets.

Essential Employment Limited (Registered number: 06033707)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. RESERVES
Retained
earnings
£   

At 1 January 2023 182,372
Profit for the year 43,625
Dividends (127,032 )
At 31 December 2023 98,965