Talent Nexus Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08843248 (England and Wales)

Financial Statements

for the Year Ended 31 January 2020

for

TALENT NEXUS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M Blake

Mr J A Blake

Mr T D Prince

Mrs C S Prince

REGISTERED OFFICE:

Suite 11 The Sanctuary

23 Oak Hill Grove

Surbiton

KT6 6DU

REGISTERED NUMBER:

08843248 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Tangible assets

4

49,393

36,772

CURRENT ASSETS

Debtors

5

1,048,780

1,651,375

Cash at bank and in hand

893,504

339,167

1,942,284

1,990,542

CREDITORS

Amounts falling due within one year

6

1,803,156

1,834,843

NET CURRENT ASSETS

139,128

155,699

TOTAL ASSETS LESS CURRENT LIABILITIES

188,521

192,471

PROVISIONS FOR LIABILITIES

9,385

6,986

NET ASSETS

179,136

185,485

CAPITAL AND RESERVES

Called up share capital

7

196

196

Share premium

3,738

3,738

Retained earnings

175,202

181,551

SHAREHOLDERS' FUNDS

179,136

185,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 5 August 2020 and were signed on its behalf by:

Mr T D Prince - Director

1.	STATUTORY INFORMATION

Talent Nexus Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Plant and machinery etc

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

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.

Covid-19 and going concern

There are no material uncertainties that may cast significant doubt about the company's

ability to continue to adopt the going concern basis of accounting for a period of at least

twelve months from the date when these financial statements are authorised for issue.

Accordingly, the going concern basis of accounting in the preparation of these financial

statements is appropriate. Significant judgement was not required to reach this conclusion.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2019 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machiner

etc

£

COST

At 1 February 2019

52,777

Additions

31,798

Disposals

(3,589

)

At 31 January 2020

80,986

DEPRECIATION

At 1 February 2019

16,005

Charge for year

16,465

Eliminated on disposal

(877

)

At 31 January 2020

31,593

NET BOOK VALUE

At 31 January 2020

49,393

At 31 January 2019

36,772

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

1,025,912

1,639,781

Other debtors

22,868

11,594

1,048,780

1,651,375

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade creditors

1,404,615

1,234,441

Taxation and social security

250,743

378,179

Other creditors

147,798

222,223

1,803,156

1,834,843

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

1,000

A Ordinary

10p

100

100

961

B Ordinary

10p

96

96

196

196

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 January 2020 and 31 January 2019:

31.1.20

31.1.19

£

£

Mr J A Blake

Balance outstanding at start of year

1,301

-

Amounts advanced

-

1,301

Amounts repaid

(1,301

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,301

Mr T D Prince

Balance outstanding at start of year

1,522

-

Amounts advanced

-

1,522

Amounts repaid

(1,522

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,522

9.	RELATED PARTY DISCLOSURES

As at the balance sheet, included in creditors due within one year £17,241 due to the

directors. The amount is interest free and repayable on demand.

10.	POST BALANCE SHEET EVENTS

In March 2020, during the year, the UK government declared COVID-19 as a pandemic.

During the year and after the year end the pandemic has not had a substantial effect on the

company's operations. The Director's further considerations of the impact of the pandemic

detailed in the Report of the Director.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J A Blake and Mr T D Prince..