Unearth Talent Ltd 14872772 false 2023-05-16 2024-05-31 2024-05-31 The principal activity of the company is recruitment. Digita Accounts Production Advanced 6.30.9574.0 true 14872772 2023-05-16 2024-05-31 14872772 2024-05-31 14872772 core:RetainedEarningsAccumulatedLosses 2024-05-31 14872772 core:ShareCapital 2024-05-31 14872772 core:CurrentFinancialInstruments 2024-05-31 14872772 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14872772 core:OfficeEquipment 2024-05-31 14872772 bus:SmallEntities 2023-05-16 2024-05-31 14872772 bus:AuditExemptWithAccountantsReport 2023-05-16 2024-05-31 14872772 bus:FilletedAccounts 2023-05-16 2024-05-31 14872772 bus:SmallCompaniesRegimeForAccounts 2023-05-16 2024-05-31 14872772 bus:RegisteredOffice 2023-05-16 2024-05-31 14872772 bus:Director1 2023-05-16 2024-05-31 14872772 bus:Director2 2023-05-16 2024-05-31 14872772 bus:PrivateLimitedCompanyLtd 2023-05-16 2024-05-31 14872772 bus:Agent1 2023-05-16 2024-05-31 14872772 core:OfficeEquipment 2023-05-16 2024-05-31 14872772 countries:EnglandWales 2023-05-16 2024-05-31 iso4217:GBP xbrli:pure

Registration number: 14872772

Unearth Talent Ltd

Unaudited Filleted Financial Statements

for the Period from 16 May 2023 to 31 May 2024

 

Unearth Talent Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Accountants' Report

7

 

Unearth Talent Ltd

Company Information

Directors

Mr Adam Alexander Henderson

Mr David Henderson

Registered office

71-75 Shelton Street
Covent Garden
London
Greater London
WC2H 9JQ

Accountants

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Unearth Talent Ltd

(Registration number: 14872772)
Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

555

Current assets

 

Stocks

5

35,751

Debtors

6

21,500

Cash at bank and in hand

 

107,996

 

165,247

Creditors: Amounts falling due within one year

7

(53,756)

Net current assets

 

111,491

Total assets less current liabilities

 

112,046

Provisions for liabilities

(139)

Net assets

 

111,907

Capital and reserves

 

Called up share capital

100

Retained earnings

111,807

Shareholders' funds

 

111,907

For the financial period ending 31 May 2024 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 period 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 31 July 2024 and signed on its behalf by:
 

.........................................
Mr Adam Alexander Henderson
Director

 

Unearth Talent Ltd

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

2

Accounting policies

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.

Revenue recognition

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 income 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.

 

Unearth Talent Ltd

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 May 2024

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% Straight Line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

 

Unearth Talent Ltd

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 May 2024

3

Employees and Directors

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

833

833

At 31 May 2024

833

833

Depreciation

Charge for the period

278

278

At 31 May 2024

278

278

Carrying amount

At 31 May 2024

555

555

5

Stocks

2024
£

Work in progress

35,751

6

Debtors

Current

2024
£

Trade debtors

21,500

 

21,500

 

Unearth Talent Ltd

Notes to the Unaudited Financial Statements for the Period from 16 May 2023 to 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

50,574

Other creditors

3,182

53,756

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

16 May 2023 to 31 May 2024
 £

Mr Adam Alexander Henderson

1,491

Mr David Henderson

1,691

 

3,182

The maximum balance outstanding during the year amounted to £3,182.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Unearth Talent Ltd
for the Period Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Unearth Talent Ltd for the period ended 31 May 2024 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Unearth Talent Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Unearth Talent Ltd and state those matters that we have agreed to state to the Board of Directors of Unearth Talent Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Unearth Talent Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Unearth Talent Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Unearth Talent Ltd. You consider that Unearth Talent Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Unearth Talent Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

31 July 2024