Company registration number 10203523 (England and Wales)
REGIONAL TALENT CENTRES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 MAY 2024
PAGES FOR FILING WITH REGISTRAR
First Floor, Premier House
127 Duckmoor Road
Ashton Gate
Bristol
United Kingdom
BS3 2BJ
REGIONAL TALENT CENTRES LTD
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
Accountants' report
7
REGIONAL TALENT CENTRES LTD
COMPANY INFORMATION
- 1 -
Directors
Mr R Martin
Mr J R Jeffries
Mr M A Brock
Company number
10203523
Registered office
First Floor, Premier House
127 Duckmoor Road
Ashton Gate
Bristol
United Kingdom
BS3 2BJ
Accountants
TC Group
First Floor, Premier House
127 Duckmoor Road
Ashton Gate
Bristol
United Kingdom
BS3 2BJ
REGIONAL TALENT CENTRES LTD
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
70
33,962
Cash at bank and in hand
4,511
6,581
4,581
40,543
Creditors: amounts falling due within one year
5
(9,776)
(87,925)
Net current liabilities
(5,195)
(47,382)
Capital and reserves
Called up share capital
70
70
Capital redemption reserve
30
30
Profit and loss reserves
(5,295)
(47,482)
Total equity
(5,195)
(47,382)
For the financial year ended 30 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
Mr R Martin
Director
Company registration number 10203523 (England and Wales)
REGIONAL TALENT CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024
- 3 -
1
Accounting policies
Company information
Regional Talent Centres Ltd is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Premier House, 127 Duckmoor Road, Ashton Gate, Bristol, United Kingdom, BS3 2BJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the company is showing a net liability of £2,739 on its balance sheet. However the directors have a reasonable expectation that the company will become profitable in the near future and therefore will ensure there are adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
REGIONAL TALENT CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Judgements and key sources of estimation uncertainty
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 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
REGIONAL TALENT CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
25,817
Other debtors
70
8,145
70
33,962
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
9,776
87,925
REGIONAL TALENT CENTRES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2024
- 6 -
6
Related party transactions
At the year end £nil (2023: £2,618) was owed to Junior Premier League Ltd which is under common control. £2,618.35 has been written off during the year.
At the year end £nil (2023: £6,733) was owed by JPL Sports Tours Ltd which is under common control. £6,733 has been written of during the year.
At the year end £nil (2023: £75,561) was owed to Junior Premier League South which is regarded as a related party due to the close working relationship between two companies which are managed on a day to day basis by the directors. £75,561 has been written off during the year.
REGIONAL TALENT CENTRES LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF REGIONAL TALENT CENTRES LTD
- 7 -
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 May 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
TC Group
27 February 2025
First Floor, Premier House
127 Duckmoor Road
Ashton Gate
Bristol
United Kingdom