8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-30 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 11970083 2023-10-30 2024-10-29 11970083 2024-10-29 11970083 2023-10-29 11970083 2022-10-30 2023-10-29 11970083 2023-10-29 11970083 2022-10-29 11970083 core:FurnitureFittings 2023-10-30 2024-10-29 11970083 bus:OrdinaryShareClass1 2023-10-30 2024-10-29 11970083 bus:Director1 2023-10-30 2024-10-29 11970083 bus:Director2 2023-10-30 2024-10-29 11970083 core:FurnitureFittings 2023-10-29 11970083 core:FurnitureFittings 2024-10-29 11970083 core:WithinOneYear 2024-10-29 11970083 core:WithinOneYear 2023-10-29 11970083 core:AfterOneYear 2024-10-29 11970083 core:AfterOneYear 2023-10-29 11970083 core:ShareCapital 2024-10-29 11970083 core:ShareCapital 2023-10-29 11970083 core:RetainedEarningsAccumulatedLosses 2024-10-29 11970083 core:RetainedEarningsAccumulatedLosses 2023-10-29 11970083 core:BetweenOneFiveYears 2023-10-29 11970083 core:FurnitureFittings 2023-10-29 11970083 bus:SmallEntities 2023-10-30 2024-10-29 11970083 bus:AuditExemptWithAccountantsReport 2023-10-30 2024-10-29 11970083 bus:SmallCompaniesRegimeForAccounts 2023-10-30 2024-10-29 11970083 bus:PrivateLimitedCompanyLtd 2023-10-30 2024-10-29 11970083 bus:FullAccounts 2023-10-30 2024-10-29 11970083 bus:OrdinaryShareClass1 2024-10-29 11970083 bus:OrdinaryShareClass1 2023-10-29 11970083 core:PlantMachinery 2023-10-30 2024-10-29 11970083 core:PlantMachinery 2023-10-29 11970083 core:PlantMachinery 2024-10-29
COMPANY REGISTRATION NUMBER: 11970083
Talenttech Recruitment Ltd
Filleted Unaudited Financial Statements
29 October 2024
Talenttech Recruitment Ltd
Statement of Financial Position
29 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
10,496
11,078
Current assets
Debtors
5
39,289
83,940
Cash at bank and in hand
137,998
232,369
--------
--------
177,287
316,309
Prepayments and accrued income
5,558
7,526
Creditors: amounts falling due within one year
6
31,544
84,101
--------
--------
Net current assets
151,301
239,734
--------
--------
Total assets less current liabilities
161,797
250,812
Creditors: amounts falling due after more than one year
7
2,605
6,645
Provisions
Taxation including deferred tax
1,994
2,936
Accruals and deferred income
1,575
1,575
--------
--------
Net assets
155,623
239,656
--------
--------
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
155,621
239,654
--------
--------
Shareholders funds
155,623
239,656
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year to date ending 29 October 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 financial statements for the year to date in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Talenttech Recruitment Ltd
Statement of Financial Position (continued)
29 October 2024
These financial statements were approved by the board of directors and authorised for issue on 29 July 2025 , and are signed on behalf of the board by:
J. P. Ahearne
N. C. G. Goodwin
Director
Director
Company registration number: 11970083
Talenttech Recruitment Ltd
Notes to the Financial Statements
Year to date ended 29 October 2024
1. General information
The company is a private company limited by shares, registered and trading in England and Wales with company number 11970083 . The address of the registered office is 8 Jury Street, Warwick, CV34 4EW.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Plant and equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
- Financial Assets Financial assets comprise items such as cash at bank and in hand and trade debtors and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial Liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3. Employee numbers
The average number of persons employed by the company during the year to date amounted to 8 (2023: 9 ).
4. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 30 October 2023
690
16,331
17,021
Additions
1,136
1,136
----
-------
-------
At 29 October 2024
690
17,467
18,157
----
-------
-------
Depreciation
At 30 October 2023
238
5,705
5,943
Charge for the year to date
68
1,650
1,718
----
-------
-------
At 29 October 2024
306
7,355
7,661
----
-------
-------
Carrying amount
At 29 October 2024
384
10,112
10,496
----
-------
-------
At 29 October 2023
452
10,626
11,078
----
-------
-------
5. Debtors
2024
2023
£
£
Trade debtors
39,186
83,940
Other debtors
103
-------
-------
39,289
83,940
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,000
4,000
Amounts owed to holding company
956
Social security and other taxes
19,129
63,017
Other creditors
7,459
17,084
-------
-------
31,544
84,101
-------
-------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,605
6,645
------
------
The long term loan is to be repaid over 6 years at an interest rate of 2.5% per annum.
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
4,252
14,258
Later than 1 year and not later than 5 years
4,252
------
-------
4,252
18,510
------
-------
10. Directors' advances, credits and guarantees
At the reporting date the directors loan account was in credit by £4,269.75 (2023: £2,177.74). There is no fixed term for repayment and no interest is charged.
11. Controlling party
The company is a wholly owned subsidiary of Talenttech Recruitment Holdings Limited, a company incorporated in England and Wales. A copy of the financial statements of the ultimate parent undertaking will be made available from their registered office in the UK: 8 Jury Street Warwick England CV34 4EW