GRADUATE_TALENT_SOLUTIONS - Accounts

The directors of the company have elected not to include a copy of the income statement within the financial statements.

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

Graduate Talent Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Reginald Arthur House, Percy Street, Rotherham, South Yorkshire, S65 1ED. The company's principal activities and nature of its operations are disclosed in the directors' report.

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, except for the revaluation of . The principal accounting policies adopted are set out below.

The following exemptions from the requirements of IFRS have been applied in the preparation of these financial statements, in accordance with FRS 101:

• IFRS 7, ‘Financial Instruments: Disclosures’;

• Paragraphs 91 to 99 of IFRS 13 ‘Fair value measurement’ (disclosure of valuation techniques and inputs used for fair value measurement of assets and liabilities);

• Paragraph 38 of IAS 1, ‘Presentation of financial statements’ comparative information requirements in respect of:

• Paragraph 79(a)(iv) of IAS 1;

• Paragraph 73(e) of IAS 16 Property, plant and equipment;

• The following paragraphs of IAS 1, ‘Presentation of financial statements’:

• 10(d), (Statement of cashflows)

• 10(f), (A statement of financial position as at the beginning of the preceding year when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements);

• 16 (statement of compliance with all IFRS);

• 38A (requirement for minimum of two primary statements, including cash flow statements);

• 38B-D (additional comparative information);

• 40A-D (requirements for a third statement of financial position);

• 111 (cash flow statement information), and;

• 134-136 (capital management disclosures);

• IAS 7, ‘Statement of cash flows’;

• Paragraph 30 and 31 of IAS 8 ‘Accounting policies, changes in accounting estimates and errors’ (requirement for the disclosure of information when an entity has not applied a new IFRS that has been issued but is not yet effective);

• Paragraph 17 of IAS 24 ‘Related party disclosures’ (key management compensation); and

• The requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 ‘Business combinations’; and

• The requirements in IAS 24 ‘Related party disclosures’ to disclose related party disclosures entered in to between two or more members of a group.

The directors have at the time of approving the financial statements, a reasonable expectation that the truecompany has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

The average monthly number of persons (including directors) employed by the company during the year was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The company has entered into separate unlimited cross and multilateral guarantees in respect of any indebtedness between Nicholas Associates Holdings Limited, Nicholas Associates Group Limited, Ashley Kate HR Limited and Graduate Talent Solutions Limited, and their invoice discounting company in relation to amounts advanced under invoice finance agreements. The total contingent liability of the company under guarantees at 31 December 2022 was £4,630,191 (2021: £4,999,792).

2022 is the first year that IFRS's have been adopted and the financial statements have been prepared under FRS 101. The date of transition was 1 January 2021 and the 2021 comparatives have been restated from the previous adopted Financial Reporting Standard 102 with no adjustments required to prior periods.

Nicholas Associates Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The company's ultimate controlling party is Mr N Cragg, the majority shareholder and director of Nicholas Associates Holdings Limited.