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 2017

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

2,547

3,662

CURRENT ASSETS

Stocks

-

226

Debtors

5

222,718

275,888

Cash at bank

7,940

7,022

230,658

283,136

CREDITORS

Amounts falling due within one year

6

85,590

48,554

NET CURRENT ASSETS

145,068

234,582

TOTAL ASSETS LESS CURRENT LIABILITIES

147,615

238,244

PROVISIONS FOR LIABILITIES

732

732

NET ASSETS

146,883

237,512

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

146,783

237,412

SHAREHOLDERS' FUNDS

146,883

237,512

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 24th September 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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 5 (2016 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2017

and 31st December 2017

786

5,360

6,146

DEPRECIATION

At 1st January 2017

416

2,068

2,484

Charge for year

110

1,005

1,115

At 31st December 2017

526

3,073

3,599

NET BOOK VALUE

At 31st December 2017

260

2,287

2,547

At 31st December 2016

370

3,292

3,662

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

22,052

67,541

Amounts owed by group undertakings

194,798

204,453

Other debtors

5,868

3,894

222,718

275,888

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

353

4,449

Amounts owed to group undertakings

62,847

-

Taxation and social security

8,646

18,037

Other creditors

13,744

26,068

85,590

48,554

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

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 The

Royal Bank of Scotland Plc in respect of any indebtedness between Nicholas Associates Holdings

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 2017 was

£9,152,778 (2016: £8,562,885).

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.