| JUICE TALENT DEVELOPMENT LIMITED |
Registered Number |
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07703868 |
| BALANCE SHEET |
| AS AT 31 MARCH 2020 |
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| Notes |
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2020 |
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2019 |
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£ |
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|
£ |
| FIXED ASSETS |
| Intangible assets |
3 |
|
|
206,203 |
|
|
177,059 |
| Tangible assets |
4 |
|
|
4,461 |
|
|
3,820 |
| Investments |
5 |
|
|
109 |
|
|
109 |
|
|
|
|
210,773 |
|
|
180,988 |
|
| CURRENT ASSETS |
| Debtors |
6 |
|
284,722 |
|
|
269,406 |
| Cash at bank and in hand |
|
|
16,450 |
|
|
14,357 |
|
|
|
301,172 |
|
|
283,763 |
|
| CREDITORS: amounts falling due within one year |
7 |
|
(402,575) |
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|
(329,454) |
|
| NET CURRENT LIABILITIES |
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(101,403) |
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(45,691) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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|
109,370 |
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|
135,297 |
|
| CREDITORS: amounts falling due after more than one year |
8 |
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(10,223) |
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|
- |
|
| ACCRUALS AND DEFERRED INCOME |
9 |
|
|
(89,422) |
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|
(87,016) |
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| NET ASSETS |
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|
9,725 |
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48,281 |
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| CAPITAL AND RESERVES |
| Called up share capital |
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|
1,001 |
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|
1,001 |
| Share premium |
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|
89,814 |
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|
89,814 |
| Profit and loss account |
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|
|
(81,090) |
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|
(42,534) |
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| SHAREHOLDERS' FUNDS |
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|
|
9,725 |
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|
48,281 |
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| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
| Matthew Trott |
| Director |
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| Approved by the board and authorised for issue on 30 March 2021 |
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| JUICE TALENT DEVELOPMENT LIMITED |
|
| NOTES TO THE ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
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| 1 |
ACCOUNTING POLICIES |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the transaction. The stage of completion of a transaction is measured by comparing the costs incurred for work performed to date to the estimated total costs. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Learning content
Learning content expenditure is capitalised only if the product is commercially feasible and future economic benefits are probable. The expenditure capitalised includes the cost of direct labour and overhead costs that are directly attributable to the creation, production and preparation of the asset for its intended use. Amortisation is calculated so as to write off the cost of the asset evenly over its estimated useful life of 5 years.
For the purpose of calculating distributable profits, learning content is not treated as a realised loss as, in the opinion of the director, it falls within the exception conferred by section 844(3) of the Companies Act 2006 by reason of being carried forward in accordance with applicable accounting standards. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Equipment |
25% reducing balance |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Share-based payments |
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The company provides share-based payment arrangements to certain employees. Equity-settled arrangements are measured at fair value (excluding the effect of non-market vesting conditions) at the date of grant. The fair value is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest.
Where equity-settled arrangements are modified, and are of benefit to the employee, the incremental fair value is recognised over the period from the date of modification to the date of vesting. Where a modification is not beneficial to the employee there is no change to the charge for share-based payment. Settlements and cancellations are treated as an acceleration of vesting and the unvested amount is recognised immediately in the profit and loss account.
The company has no cash-settled arrangements. |
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Changes in accounting policy and presentation |
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Labour costs incurred in delivery of training services have been reclassified to cost of sales and the comparative figures in the profit and loss account have been reclassified accordingly. |
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| 2 |
EMPLOYEES |
2020 |
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2019 |
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Number |
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Number |
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Average number of persons employed by the company |
17 |
|
14 |
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| 3 |
INTANGIBLE FIXED ASSETS |
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Learning content |
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£ |
|
COST |
|
At 1 April 2019 |
496,120 |
|
Additions |
104,606 |
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At 31 March 2020 |
600,726 |
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AMORTISATION |
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At 1 April 2019 |
319,061 |
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Provided during the year |
75,462 |
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At 31 March 2020 |
394,523 |
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NET BOOK VALUE |
|
At 31 March 2020 |
206,203 |
|
At 31 March 2019 |
177,059 |
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| 4 |
TANGIBLE FIXED ASSETS |
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Plant and machinery etc |
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|
£ |
|
COST: |
|
At 1 April 2019 |
10,455 |
|
Additions |
1,939 |
|
At 31 March 2020 |
12,394 |
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DEPRECIATION: |
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At 1 April 2019 |
6,635 |
|
Charge for the year |
1,298 |
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At 31 March 2020 |
7,933 |
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NET BOOK VALUE: |
|
At 31 March 2020 |
4,461 |
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At 31 March 2019 |
3,820 |
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| 5 |
INVESTMENTS |
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Investments in subsidiary undertakings |
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£ |
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COST: |
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At 1 April 2019 |
109 |
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At 31 March 2020 |
109 |
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| 6 |
DEBTORS |
2020 |
|
2019 |
|
|
|
|
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|
£ |
|
£ |
|
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Trade debtors |
62,745 |
|
44,998 |
|
Other debtors |
221,977 |
|
224,408 |
|
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|
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284,722 |
|
269,406 |
|
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| 7 |
CREDITORS: amounts falling due within one year |
2020 |
|
2019 |
|
|
|
|
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|
£ |
|
£ |
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Trade creditors |
71,242 |
|
38,849 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
170,761 |
|
187,522 |
|
Taxation and social security |
85,233 |
|
52,685 |
|
Other creditors |
75,339 |
|
50,398 |
|
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402,575 |
|
329,454 |
|
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| 8 |
CREDITORS: amounts falling due after one year |
2020 |
|
2019 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Other creditors |
10,223 |
|
- |
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| 9 |
ACCRUALS AND DEFERRED INCOME |
2020 |
|
2019 |
|
|
|
|
|
|
£ |
|
£ |
|
Deferred revenue: |
|
Revenue to be recognised within one year |
89,422 |
|
86,316 |
|
Revenue to be recognised after more than one year |
- |
|
700 |
|
|
|
|
|
|
89,422 |
|
87,016 |
|
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| 10 |
RELATED PARTY TRANSACTIONS |
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During the year ended 31 March 2020, director's remuneration was £72,000 (2019: £76,000) and rent payable to the director for shared use of property as office £18,000 (2019: £18,000). At the balance sheet date, the amount owed to the director (included in other creditors, Note 7) was £6,236 (2019: £8,236). Included in the profit and loss account are fees receivable from the company's subsidiary undertaking, Recruitment Juice Talent Development - Asiapac Pty Ltd (Australia) of £163,518 (2019: £164,276). |
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| 11 |
OTHER INFORMATION |
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Juice Talent Development Limited is a private company limited by shares and incorporated in England. Its registered office is at 13 Copse Avenue, Reading, Berkshire, RG4 6LX. |
