Abbreviated Company Accounts - THE TALENT BUSINESS LIMITED

Abbreviated Company Accounts - THE TALENT BUSINESS LIMITED


Registered Number 01428814

THE TALENT BUSINESS LIMITED

Abbreviated Accounts

31 December 2015

THE TALENT BUSINESS LIMITED Registered Number 01428814

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 41,000 41,000
Tangible assets 3 93,757 129,597
134,757 170,597
Current assets
Debtors 1,803,163 1,680,550
Cash at bank and in hand 33,359 46,013
1,836,522 1,726,563
Creditors: amounts falling due within one year (1,043,308) (979,623)
Net current assets (liabilities) 793,214 746,940
Total assets less current liabilities 927,971 917,537
Total net assets (liabilities) 927,971 917,537
Capital and reserves
Called up share capital 4 165,480 165,480
Profit and loss account 762,491 752,057
Shareholders' funds 927,971 917,537
  • For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 September 2016

And signed on their behalf by:
Gary Stolkin, Director

THE TALENT BUSINESS LIMITED Registered Number 01428814

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Other accounting policies
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings 10% straight line
Computer equipment 20% straight line

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Leasing and hire purchase commitments
"Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term."

Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2Intangible fixed assets
£
Cost
At 1 January 2015 41,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2015 41,000
Amortisation
At 1 January 2015 -
Charge for the year -
On disposals -
At 31 December 2015 -
Net book values
At 31 December 2015 41,000
At 31 December 2014 41,000
3Tangible fixed assets
£
Cost
At 1 January 2015 1,048,125
Additions 13,577
Disposals -
Revaluations -
Transfers -
At 31 December 2015 1,061,702
Depreciation
At 1 January 2015 918,528
Charge for the year 49,417
On disposals -
At 31 December 2015 967,945
Net book values
At 31 December 2015 93,757
At 31 December 2014 129,597
4Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
3,309,600Ordinary shares of £0.05 each 165,480 165,480