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Registration number: 11411552

Absolute 4 Staff (Stoke) Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Absolute 4 Staff (Stoke) Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Absolute 4 Staff (Stoke) Ltd

(Registration number: 11411552)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,867

3,214

Current assets

 

Debtors

6

38,552

137,799

Creditors: Amounts falling due within one year

7

(75,506)

(129,331)

Net current (liabilities)/assets

 

(36,954)

8,468

Total assets less current liabilities

 

(34,087)

11,682

Creditors: Amounts falling due after more than one year

7

(4,225)

(6,823)

Provisions for liabilities

(716)

(803)

Net (liabilities)/assets

 

(39,028)

4,056

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(39,128)

3,956

Shareholders' (deficit)/funds

 

(39,028)

4,056

 

Absolute 4 Staff (Stoke) Ltd

(Registration number: 11411552)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 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 year 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 28 January 2025 and signed on its behalf by:
 

.........................................
Mrs J M Taylor
Director

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
Suite 2 & 3
Holborn Court
Bridge Street
Newcastle-Under-Lyme
ST5 2RY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

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

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 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.

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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

33.3% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

4,250

4,250

At 30 November 2024

4,250

4,250

Amortisation

At 1 December 2023

4,250

4,250

At 30 November 2024

4,250

4,250

Carrying amount

At 30 November 2024

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

8,345

8,345

Additions

2,435

2,435

At 30 November 2024

10,780

10,780

Depreciation

At 1 December 2023

5,131

5,131

Charge for the year

2,782

2,782

At 30 November 2024

7,913

7,913

Carrying amount

At 30 November 2024

2,867

2,867

At 30 November 2023

3,214

3,214

 

Absolute 4 Staff (Stoke) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

32,524

124,541

Amounts owed by related parties

1,912

1,995

Prepayments

 

4,116

11,263

   

38,552

137,799

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,942

23,811

Other creditors

71,564

105,520

75,506

129,331

Creditors include invoice financing of £28,161 (2023: £67,023) and are secured by way of a fixed charge and floating charge over all property or undertaking of the company.

2024
£

2023
£

Current loans and borrowings

Bank borrowings

4,549

4,549

Bank overdrafts

10,406

14,574

Other borrowings

28,161

67,024

43,116

86,147

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Bank borrowings

4,225

6,823