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Registered number: 09217118
Thryve Talent Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
JML Business Services Limited
25 Church Street
Godalming
Surrey
GU7 1EL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09217118
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 25,202 23,733
25,202 23,733
CURRENT ASSETS
Debtors 5 1,490,177 1,468,030
Cash at bank and in hand (259,071 ) 425,347
1,231,106 1,893,377
Creditors: Amounts Falling Due Within One Year 6 (623,834 ) (1,038,595 )
NET CURRENT ASSETS (LIABILITIES) 607,272 854,782
TOTAL ASSETS LESS CURRENT LIABILITIES 632,474 878,515
Creditors: Amounts Falling Due After More Than One Year 7 (46,875 ) (92,128 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,788 ) (4,510 )
NET ASSETS 580,811 781,877
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 580,809 781,875
SHAREHOLDERS' FUNDS 580,811 781,877
Page 1
Page 2
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 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 John Lennon
Director
09/10/2024
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
Thryve Talent Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09217118 . The registered office is 2nd Floor, 4 Eastcheap, London, EC3M 1AE.
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 sale of goods and 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:
Plant & Machinery 20% on reducing balance
Computer Equipment 20% on reducing balance
2.4. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. 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: 23 (2022: 23)
23 23
Page 3
Page 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 35,121
Additions 7,202
As at 31 December 2023 42,323
Depreciation
As at 1 January 2023 11,388
Provided during the period 5,733
As at 31 December 2023 17,121
Net Book Value
As at 31 December 2023 25,202
As at 1 January 2023 23,733
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 809,459 759,705
Other debtors 634,718 662,325
1,444,177 1,422,030
Due after more than one year
Other debtors 46,000 46,000
1,490,177 1,468,030
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 425,689 434,932
Bank loans and overdrafts - 7,586
CBILS Loan < 1 year 37,500 29,747
Other creditors 82,877 368,284
Taxation and social security 77,768 198,046
623,834 1,038,595
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
CBILS Loan - > 1 year 46,875 92,128
Page 4
Page 5
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 276,000 276,000
Later than one year and not later than five years 483,000 207,000
759,000 483,000
Page 5