Centre for Strategy & |
Communication Limited |
Audited Financial Statements for the Year Ended 31 July 2022 |
Centre for Strategy & |
Communication Limited |
Audited Financial Statements for the Year Ended 31 July 2022 |
Centre for Strategy & |
Communication Limited |
Company Information |
for the Year Ended 31 July 2022 |
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 2022 |
2022 | 2021 |
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 2022 |
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 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company ceased trading on 30 November 2021 and the financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. |
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. |
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
1. | ACCOUNTING POLICIES - continued |
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. |
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 two years from the balance sheet date are not released to the profit and loss account. Unused vouchers of 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 |
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
3. | INTANGIBLE FIXED ASSETS |
Intellectual |
Goodwill | property | Totals |
£ | £ | £ |
COST |
At 1 August 2021 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2022 |
AMORTISATION |
At 1 August 2021 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 July 2022 |
NET BOOK VALUE |
At 31 July 2022 |
At 31 July 2021 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2021 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2022 |
DEPRECIATION |
At 1 August 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 July 2022 |
NET BOOK VALUE |
At 31 July 2022 |
At 31 July 2021 |
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors & prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Taxes & social security costs |
Other creditors & accruals |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
8. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | - | 1,200 |
Deferred |
tax |
£ |
Balance at 1 August 2021 |
Credit to Profit and Loss Account during year | ( |
) |
Balance at 31 July 2022 |
Centre for Strategy & |
Communication Limited (Registered number: 04446073) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
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 2022, the company had total commitments under non - cancellable operating leases over the remaining life of those leases of £0 (2021 - £922,500). |
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. |