Talent & Potential Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05347407

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Talent & Potential Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Ms. A L Hamill

Ms SL Hobbs

SECRETARY:

J M Robertson

REGISTERED OFFICE:

122 Winchcombe Street

Cheltenham

GL52 2NW

REGISTERED NUMBER:

05347407

ACCOUNTANTS:

Crossley and Co.

122 Winchcombe Street

Cheltenham

Gloucestershire

GL52 2NW

FIXED ASSETS

Tangible assets

4

9,555

11,051

CURRENT ASSETS

Stocks

5

27,847

25,004

Debtors

6

7,738

31,607

Cash at bank and in hand

124,083

139,549

159,668

196,160

CREDITORS

Amounts falling due within one year

7

57,101

74,454

NET CURRENT ASSETS

102,567

121,706

TOTAL ASSETS LESS CURRENT
LIABILITIES

112,122

132,757

CREDITORS

Amounts falling due after more than one year

8

(3,379

)

(13,379

)

PROVISIONS FOR LIABILITIES

(1,815

)

(2,763

)

NET ASSETS

106,928

116,615

CAPITAL AND RESERVES

Called up share capital

9

1,000

Retained earnings

10

105,928

115,615

SHAREHOLDERS' FUNDS

106,928

116,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by:

Ms. A L Hamill - Director

Ms SL Hobbs - Director

1.	STATUTORY INFORMATION

Talent & Potential Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2024

38,437

Additions

1,689

At 31 January 2025

40,126

DEPRECIATION

At 1 February 2024

27,386

Charge for year

3,185

At 31 January 2025

30,571

NET BOOK VALUE

At 31 January 2025

9,555

At 31 January 2024

11,051

5.

STOCKS

31.1.25

31.1.24

£

Stocks

27,847

25,004

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Trade debtors

6,409

30,348

Prepayments

1,329

1,259

7,738

31,607

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

Bank loans and overdrafts

10,000

Trade creditors

7,284

5,351

Tax

18,234

31,187

Social security and other taxes

1,017

1,957

VAT

6,636

6,565

Directors' current accounts

12,180

17,644

Accrued expenses

1,750

57,101

74,454

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.1.25

31.1.24

£

Bank loans - 1-2 years

3,379

10,000

Bank loans - 2-5 years

-

3,379

13,379

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

60

Ordinary A

1

60

940

Ordinary B

1

940

1,000

10.

RESERVES

Retained

earnings

£

At 1 February 2024

115,615

Profit for the year

58,013

Dividends

(67,700

)

At 31 January 2025

105,928