Graduate Talent Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07511790 (England and Wales)

GRADUATE TALENT SOLUTIONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

N G W Cragg

B J Allen

P M Brammer

REGISTERED OFFICE:

Reginald Arthur House

Percy Street

Rotherham

South Yorkshire

S65 1ED

REGISTERED NUMBER:

07511790 (England and Wales)

AUDITORS:

McGregors Corporate

Chartered Accountants &

Statutory Auditors

i2 Mansfield Suite 0.3

Hamilton Court

Oakham Business Park

Mansfield

Nottinghamshire

NG18 5FB

FIXED ASSETS

Tangible assets

4

359

2,547

CURRENT ASSETS

Debtors

5

110,280

222,718

Cash at bank

34,019

7,940

144,299

230,658

CREDITORS

Amounts falling due within one year

6

30,992

85,590

NET CURRENT ASSETS

113,307

145,068

TOTAL ASSETS LESS CURRENT LIABILITIES

113,666

147,615

PROVISIONS FOR LIABILITIES

732

732

NET ASSETS

112,934

146,883

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

112,834

146,783

SHAREHOLDERS' FUNDS

112,934

146,883

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30th August 2019 and were signed on its behalf by:

B J Allen - Director

1.	STATUTORY INFORMATION

Graduate Talent Solutions Limited is a private company, limited by shares , registered in England and Wales.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

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.

Fixtures and fittings

-

33% on cost and 20% on cost

Computer equipment

-

33% on cost and 20% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2018

786

5,360

6,146

Disposals

(286

)

(4,801

)

(5,087

)

At 31st December 2018

500

559

1,059

DEPRECIATION

At 1st January 2018

526

3,073

3,599

Charge for year

98

288

386

Eliminated on disposal

(280

)

(3,005

)

(3,285

)

At 31st December 2018

344

356

700

NET BOOK VALUE

At 31st December 2018

156

203

359

At 31st December 2017

260

2,287

2,547

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,238

22,052

Amounts owed by group undertakings

106,202

194,798

Other debtors

2,840

5,868

110,280

222,718

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,255

353

Amounts owed to group undertakings

-

62,847

Taxation and social security

20,027

8,646

Other creditors

9,710

13,744

30,992

85,590

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

ordinary

1

100

100

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Christopher Holder BA FCA (Senior Statutory Auditor)

for and on behalf of McGregors Corporate

9.	CONTINGENT LIABILITIES

The company has entered into separate unlimited cross and multilateral guarantees in favour of HSBC bank in

respect of any indebtedness between Nicholas Associates Group Limited, and the bank in relation to overdraft

and amounts advanced under invoice finance agreements. The total contingent liability of the company under

guarantees at 31 December 2018 was £7,992,403 (2017: £9,152,778).

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Nicholas Associates Holdings Limited, a company registered in

England and Wales.

The ultimate controlling party is N G W Cragg by virtue of his majority shareholding in the parent company.