Registration number:
Essential Care Talent Limited
for the Period from 23 May 2019 to 31 May 2020
Essential Care Talent Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Essential Care Talent Limited
(Registration number: 12014307)
Balance Sheet as at 31 May 2020
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2020 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial period ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
Essential Care Talent Limited
Notes to the Unaudited Financial Statements for the Period from 23 May 2019 to 31 May 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The worldwide Covid-19 pandemic gives rise to uncertainty in relation to the company's future activity and events and indeed the company's longer-term prospects.
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through bank account and director's loan account. The financial statements do not include any adjustments that would result from the withdrawal of financial support, as the director is confident that support will be provided for such time as the company requires.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Essential Care Talent Limited
Notes to the Unaudited Financial Statements for the Period from 23 May 2019 to 31 May 2020
Government grants
Government grants comprise the fair value of consideration received or receivable in respect to government provided funding to the entity.
Government grants have been recognised in line with the Accruals model where grants relating to revenue have been recognised as other income on a systematic basis over the periods in which the entity has recognised related costs for which the grant is intended to compensate.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Essential Care Talent Limited
Notes to the Unaudited Financial Statements for the Period from 23 May 2019 to 31 May 2020
Staff numbers |
The average number of persons employed by the company (including the director) during the period was
Debtors |
Note |
2020 |
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Receivables from related parties |
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Creditors |
Creditors: amounts falling due within one year
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals |
73,200 |
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Share capital |
Allotted, called up and fully paid shares
2020 |
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No. |
£ |
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100 |
100 Ordinary share capital was issued at par during the year.
Essential Care Talent Limited
Notes to the Unaudited Financial Statements for the Period from 23 May 2019 to 31 May 2020
Related party transactions |
Loans to related parties
2020 |
Other related parties |
Total |
Advanced |
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At end of period |
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Terms of loans to related parties
Amounts owed from other related parties are interest free and repayable on demand.