IRIS Accounts Production
v17.3.1.106
04446073
Board of Directors
1.8.16
31.7.17
31.7.17
3/4/2018
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Auditors Opinion
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Centre for Strategy & Communication
|
Audited Financial Statements for the Year Ended 31 July 2017
|
|
REGISTERED OFFICE:
|
Itec House
|
|
REGISTERED NUMBER:
|
04446073 (England and Wales)
|
|
SENIOR STATUTORY
AUDITOR:
|
Colin William Russell FCCA ACA
|
|
Cardiff Gate Business Park |
Intangible assets
|
3
|
132,229
|
|
198,900
|
|
|
Tangible assets
|
4
|
33,036
|
|
39,833
|
|
|
Debtors
|
5
|
420,030
|
|
349,607
|
|
|
Cash at bank and in hand
|
438,341
|
|
314,084
|
|
|
Amounts falling due within one year
|
6
|
459,689
|
|
425,519
|
|
|
NET CURRENT ASSETS
|
398,682
|
|
238,172
|
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES
|
563,947
|
|
476,905
|
|
|
Amounts falling due after more than
one year
|
7
|
(18,965
|
) |
(16,435
|
) |
|
PROVISIONS FOR LIABILITIES
|
8
|
(5,000
|
) |
(6,200
|
) |
|
NET ASSETS
|
539,982
|
|
454,270
|
|
|
Called up share capital
|
1
|
|
1
|
|
|
Retained earnings
|
539,981
|
|
454,269
|
|
|
SHAREHOLDERS' FUNDS
|
539,982
|
|
454,270
|
|
|
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 Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors on
23 March 2018 and were
signed on its behalf by:
|
|
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. |
|
Turnover represents amounts receivable for the training of staff and management who work
|
|
in the private, public and voluntary sector.
|
|
Acquired goodwill is written off in equal annual instalments over its estimated useful
|
|
economic life of 5 years.
|
|
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
|
|
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
|
Fixtures and fittings
|
-
|
10% & 25% straight line |
|
Computer equipment
|
-
|
20% & 50% straight line |
|
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 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
|
|
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 sold but not used by the year end are treated as a liability in the financial
|
|
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.
|
|
Rentals paid under operating leases are charged to income on a straight line basis over the
|
2.
|
EMPLOYEES AND DIRECTORS
|
|
The average number of employees during the year was
12 (2016 -
12 ) .
|
3.
|
INTANGIBLE FIXED ASSETS
|
|
and 31 July 2017
|
360,000
|
|
77,898
|
|
437,898
|
|
|
|
At 1 August 2016
|
206,100
|
|
32,898
|
|
238,998
|
|
|
|
Amortisation for year
|
51,300
|
|
15,371
|
|
66,671
|
|
|
|
At 31 July 2017
|
257,400
|
|
48,269
|
|
305,669
|
|
|
|
At 31 July 2017
|
102,600
|
|
29,629
|
|
132,229
|
|
|
|
At 31 July 2016
|
153,900
|
|
45,000
|
|
198,900
|
|
|
|
fittings
|
|
equipment
|
|
Totals
|
|
At 1 August 2016
|
46,316
|
|
15,724
|
|
62,040
|
|
|
|
At 31 July 2017
|
46,316
|
|
21,596
|
|
67,912
|
|
|
|
At 1 August 2016
|
14,613
|
|
7,594
|
|
22,207
|
|
|
|
Charge for year
|
8,508
|
|
4,161
|
|
12,669
|
|
|
|
At 31 July 2017
|
23,121
|
|
11,755
|
|
34,876
|
|
|
|
At 31 July 2017
|
23,195
|
|
9,841
|
|
33,036
|
|
|
|
At 31 July 2016
|
31,703
|
|
8,130
|
|
39,833
|
|
|
5.
|
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade debtors
|
231,981
|
|
221,346
|
|
|
|
Amounts owed by group undertakings
|
132,658
|
|
76,966
|
|
|
|
Other debtors & prepayments
|
55,391
|
|
51,295
|
|
|
6.
|
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade creditors
|
58,802
|
|
50,840
|
|
|
|
Taxes & social security costs
|
94,567
|
|
59,354
|
|
|
|
Other creditors & accruals
|
306,320
|
|
315,325
|
|
|
7.
|
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
|
|
|
Other creditors
|
18,965
|
|
16,435
|
|
|
8.
|
PROVISIONS FOR LIABILITIES
|
|
Balance at 1 August 2016
|
6,200
|
|
|
|
Provided during year
|
(1,200
|
) |
|
|
Balance at 31 July 2017
|
5,000
|
|
|
9.
|
DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006
|
|
The Report of the Auditors was unqualified.
|
|
Colin William Russell FCCA ACA (Senior Statutory Auditor)
|
|
for and on behalf of
BPU Limited |
10.
|
TOTAL FINANCIAL COMMITMENTS
|
|
At 31 July 2017, the company had total commitments under non - cancellable operating
|
|
leases over the remaining life of those leases of £117,000 (2016 - £216,000)
|
11.
|
ULTIMATE CONTROLLING PARTY
|
|
The company's immediate and ultimate parent undertaking at the balance sheet date was
|
|
ITEC Training Solutions (Holdings) Limited.
|