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Centre for Strategy & Communication |
Limited |
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Audited Financial Statements for the Year Ended 31 July 2019 |
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Centre for Strategy & Communication |
Limited |
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Audited Financial Statements for the Year Ended 31 July 2019 |
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Centre for Strategy & Communication |
Limited |
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Company Information |
for the Year Ended 31 July 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY
AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
Centre for Strategy & Communication |
Limited (Registered number: 04446073) |
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Balance Sheet |
31 July 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Centre for Strategy & Communication |
Limited (Registered number: 04446073) |
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Balance Sheet - continued |
31 July 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Centre for Strategy & Communication |
Limited (Registered number: 04446073) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2019 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts receivable in relation to the company's principal activity of |
providing training for staff and management who work in the private, public and voluntary |
sector. |
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Intangible assets |
Goodwill |
Acquired goodwill is written off in equal annual instalments over its estimated useful |
economic life of 5 years. |
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Intellectual Property |
Intellectual property is valued at costs less accumulated amortisation. Amortisation is |
calculated to write off the cost in equal annual instalments over their estimated useful lives |
of 5 years. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit |
and loss account, except to the extent that it relates to items recognised in other |
comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
Centre for Strategy & Communication |
Limited (Registered number: 04446073) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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1. | ACCOUNTING POLICIES - continued |
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Pensions |
The company operates a defined contribution scheme for the benefit of its employees. |
Contributions payable are charged to the profit and loss in the year they are payable. |
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Course vouchers |
Course vouchers sold but not used by the year end are treated as a liability in the financial |
statements. |
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Unused vouchers of less than one year from the balance sheet date are not released to the |
profit and loss accounts. Unused vouchers of between one and two years, 50% release to |
income, and more than two years are recognised in full in the profit and loss account. |
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Leasing commitments |
Rentals paid under operating leases are charged to income on a straight line basis over the |
lease term. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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3. | INTANGIBLE FIXED ASSETS |
Intellectual |
Goodwill | property | Totals |
£ | £ | £ |
COST |
At 1 August 2018 |
and 31 July 2019 |
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AMORTISATION |
At 1 August 2018 |
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Amortisation for year |
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At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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Centre for Strategy & Communication |
Limited (Registered number: 04446073) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2018 |
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Additions |
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At 31 July 2019 |
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DEPRECIATION |
At 1 August 2018 |
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Charge for year |
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At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors & prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxes & social security costs |
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Other creditors & accruals |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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Centre for Strategy & Communication |
Limited (Registered number: 04446073) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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8. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax |
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Deferred |
tax |
£ |
Balance at 1 August 2018 |
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Provided during year | ( |
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Balance at 31 July 2019 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | TOTAL FINANCIAL COMMITMENTS |
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At 31 July 2019, the company had total commitments under non - cancellable operating |
leases over the remaining life of those leases of £1,213,000 (2018 - £18,000) |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is ITEC Employee Trustee Limited, a company incorporated |
in England and Wales, acting as corporate trustee of the ITEC Employee Ownership Trust. |
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The immediate parent company is Itec Training Solutions (Holdings) Limited, which |
prepares group financial statements. Copies can be obtained from ITEC House, Penarth |
Road, Cardiff CF11 8TT. |