The Talent Resource Limited 06583091 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is graduate recruitment services. Digita Accounts Production Advanced 6.30.9574.0 true 06583091 2023-06-01 2024-05-31 06583091 2024-05-31 06583091 core:CurrentFinancialInstruments 2024-05-31 06583091 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 06583091 core:FurnitureFittingsToolsEquipment 2024-05-31 06583091 1 2024-05-31 06583091 bus:SmallEntities 2023-06-01 2024-05-31 06583091 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06583091 bus:FilletedAccounts 2023-06-01 2024-05-31 06583091 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06583091 bus:RegisteredOffice 2023-06-01 2024-05-31 06583091 bus:Director1 2023-06-01 2024-05-31 06583091 bus:Director2 2023-06-01 2024-05-31 06583091 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06583091 core:FurnitureFittings 2023-06-01 2024-05-31 06583091 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 06583091 core:OfficeEquipment 2023-06-01 2024-05-31 06583091 countries:EnglandWales 2023-06-01 2024-05-31 06583091 1 2023-06-01 2024-05-31 06583091 2023-05-31 06583091 core:FurnitureFittingsToolsEquipment 2023-05-31 06583091 1 2023-05-31 06583091 2022-06-01 2023-05-31 06583091 2023-05-31 06583091 core:CurrentFinancialInstruments 2023-05-31 06583091 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 06583091 core:FurnitureFittingsToolsEquipment 2023-05-31 06583091 1 2023-05-31 06583091 1 2022-06-01 2023-05-31 06583091 1 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 06583091

The Talent Resource Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

The Talent Resource Limited

Contents
for the Year Ended 31 May 2024

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

The Talent Resource Limited

Company Information
for the Year Ended 31 May 2024

Directors

F Menard

L Menard

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

06583091 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

The Talent Resource Limited

(Registration number: 06583091)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,073

2,069

Current assets

 

Debtors

5

475,632

435,579

Cash at bank and in hand

 

584,853

537,711

 

1,060,485

973,290

Creditors: Amounts falling due within one year

6

(158,796)

(166,288)

Net current assets

 

901,689

807,002

Net assets

 

902,762

809,071

Capital and reserves

 

Called up share capital

100

100

Retained earnings

902,662

808,971

Shareholders' funds

 

902,762

809,071

For the financial year 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 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 12 November 2024 and signed on its behalf by:
 

.........................................
F Menard
Director

 

The Talent Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the Board on 12 November 2024.

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.

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.

Tax

The tax expense for the period comprises current 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.

 

The Talent Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 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

Fixtures & Fittings

33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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. Amounts classified as receivable within one year are not amortised.

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. Amounts classified as payable within one year are not amortised.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Talent Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 18).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

7,663

7,663

Disposals

(2,295)

(2,295)

At 31 May 2024

5,368

5,368

Depreciation

At 1 June 2023

5,594

5,594

Charge for the year

997

997

Eliminated on disposal

(2,296)

(2,296)

At 31 May 2024

4,295

4,295

Carrying amount

At 31 May 2024

1,073

1,073

At 31 May 2023

2,069

2,069

5

Debtors

Current

2024
£

2023
£

Trade debtors

360,235

319,827

Other debtors

115,397

115,752

 

475,632

435,579

 

The Talent Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

54

Taxation and social security

157,456

156,973

Accruals and deferred income

721

868

Other creditors

619

8,393

158,796

166,288

7

Related party transactions

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Advances and credits

85,416

27,068

(25,461)

87,024

 

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Advances and credits

84,050

1,678

(312)

85,416

 

Other transactions with directors

The balance due from the directors at the year end date was deemed repayable on demand. Interest was charged at 2.25% on the outstanding balance.