Registered number
10642558
Talent Forte Ltd
Filleted Accounts
29 February 2024
Talent Forte Ltd
Registered number: 10642558
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 18,589 32,195
Current assets
Debtors 4 392,430 353,519
Cash at bank and in hand 171,979 254,733
564,409 608,252
Creditors: amounts falling due within one year 5 (519,676) (517,908)
Net current assets 44,733 90,344
Total assets less current liabilities 63,322 122,539
Creditors: amounts falling due after more than one year 6 (43,741) (87,381)
Provisions for liabilities (3,532) (6,187)
Net assets 16,049 28,971
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,949 28,871
Shareholders' funds 16,049 28,971
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sunny Bakshi
Director
Approved by the board on 20 November 2024
Talent Forte Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 20% On cost
Computer Equipment 25% Reducing Balance Method
Motor vehicles 20% On cost
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Fixtures and fittings Computer Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 333 3,983 66,236 70,552
At 29 February 2024 333 3,983 66,236 70,552
Depreciation
At 1 March 2023 116 2,915 35,326 38,357
Charge for the year 92 267 13,247 13,606
At 29 February 2024 208 3,182 48,573 51,963
Net book value
At 29 February 2024 125 801 17,663 18,589
At 28 February 2023 217 1,068 30,910 32,195
4 Debtors 2024 2023
£ £
Trade debtors 311,585 332,149
Other debtors 80,845 21,370
392,430 353,519
5 Creditors: amounts falling due within one year 2024 2023
£ £
Invoice Discounting Facility 264,640 163,398
Obligations under finance lease and hire purchase contracts 6,067 6,067
Trade creditors 4,572 7,215
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,875 1,875
Taxation and social security costs 199,086 299,059
Loan (CBILS) 38,399 38,399
Other creditors 5,037 1,895
519,676 517,908
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 28,566 34,633
Loan (CIBIL) 15,175 52,748
43,741 87,381
7 Other information
Talent Forte Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Lodge, Milley Road
Waltham St Lawrence
Berkshire
United Kingdom
RG10 0JP
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