|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Centre for Strategy & |
Communication Limited |
|
Audited Financial Statements for the Year Ended 31 July 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Centre for Strategy & |
Communication Limited |
|
Audited Financial Statements for the Year Ended 31 July 2020 |
|
|
|
|
|
Centre for Strategy & |
Communication Limited |
|
|
Company Information |
for the Year Ended 31 July 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
SENIOR STATUTORY
AUDITOR: |
|
|
|
|
AUDITORS: |
|
Chartered Accountants |
Statutory Auditor |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
|
|
Balance Sheet |
31 July 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
|
|
Tangible assets | 4 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than
one year |
7 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
|
|
Balance Sheet - continued |
31 July 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
|
|
Notes to the Financial Statements |
for the Year Ended 31 July 2020 |
|
|
1. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
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. |
|
Intangible assets |
Goodwill |
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years. |
|
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. |
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
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. |
|
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. |
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
|
|
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
|
|
1. | ACCOUNTING POLICIES - continued |
|
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. |
|
Course vouchers |
Course vouchers sold but not used by the year end are treated as a liability in the financial statements. |
|
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. |
|
Leasing commitments |
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
2. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
3. | INTANGIBLE FIXED ASSETS |
Intellectual |
Goodwill | property | Totals |
£ | £ | £ |
COST |
At 1 August 2019 |
and 31 July 2020 |
|
|
|
AMORTISATION |
At 1 August 2019 |
and 31 July 2020 |
|
|
|
NET BOOK VALUE |
At 31 July 2020 |
|
|
|
At 31 July 2019 |
|
|
|
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
|
|
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2019 |
|
|
|
Additions |
|
|
|
At 31 July 2020 |
|
|
|
DEPRECIATION |
At 1 August 2019 |
|
|
|
Charge for year |
|
|
|
At 31 July 2020 |
|
|
|
NET BOOK VALUE |
At 31 July 2020 |
|
|
|
At 31 July 2019 |
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors & prepayments |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
|
|
Taxes & social security costs |
|
|
Other creditors & accruals |
|
|
|
|
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
|
|
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
|
|
|
8. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 700 | 1,600 |
|
Deferred |
tax |
£ |
Balance at 1 August 2019 |
|
Provided during year | ( |
) |
Balance at 31 July 2020 |
|
|
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
10. | TOTAL FINANCIAL COMMITMENTS |
|
At 31 July 2020, the company had total commitments under non - cancellable operating leases over the remaining life of those leases of £1,080,000 (2019 - £1,213,000) |
|
11. | ULTIMATE CONTROLLING PARTY |
|
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. |
|
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. |