COMPANY REGISTRATION NUMBER:
07744233
Catalyst Performance and Leadership Development Limited
|
|
Filleted Unaudited Financial Statements
|
|
Catalyst Performance and Leadership Development Limited
|
|
Year Ended 31st March 2017
Officers and Professional Advisers
|
1
|
|
|
Statement of Financial Position
|
2
|
|
|
Notes to the Financial Statements
|
3
|
|
|
Catalyst Performance and Leadership Development Limited
|
|
Statement of Financial Position
|
|
31 March 2017
Fixed Assets
Tangible assets
|
5
|
|
853
|
1,137
|
|
|
|
|
|
Current Assets
Debtors
|
6
|
13,139
|
|
7,288
|
Cash at bank and in hand
|
16,676
|
|
17,378
|
|
--------
|
|
--------
|
|
29,815
|
|
24,666
|
|
|
|
|
|
Creditors: Amounts Falling due Within One Year
|
7
|
17,256
|
|
22,906
|
|
--------
|
|
--------
|
Net Current Assets
|
|
12,559
|
1,760
|
|
|
--------
|
-------
|
Total Assets Less Current Liabilities
|
|
13,412
|
2,897
|
|
|
--------
|
-------
|
Net Assets
|
|
13,412
|
2,897
|
|
|
--------
|
-------
|
|
|
|
|
|
Capital and Reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
13,312
|
2,797
|
|
|
--------
|
-------
|
Shareholders Funds
|
|
13,412
|
2,897
|
|
|
--------
|
-------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
19 December 2017
, and are signed on behalf of the board by:
Mr J M A Hill
Director
Company registration number:
07744233
Catalyst Performance and Leadership Development Limited
|
|
Notes to the Financial Statements
|
|
Year Ended 31st March 2017
1.
General Information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 4th Floor, 100 Fenchurch Street, London, EC3M 5JD.
2.
Statement of Compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1st April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Disclosure Exemptions
The financial statements have been prepared in accordance with the provision of FRS 102 Section 1A for small entities. There were no material departures from the standard.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue Recognition
Turnover represents the total value of sales made during the year, excluding Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign Currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment
|
-
|
25% reducing balance
|
|
|
|
|
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Staff Numbers
The average number of persons employed by the company during the year amounted to
2
(2016:
2
).
5.
Tangible Assets
Cost
|
|
|
At 1st April 2016 and 31st March 2017
|
3,587
|
3,587
|
|
-------
|
-------
|
Depreciation
|
|
|
At 1st April 2016
|
2,450
|
2,450
|
Charge for the year
|
284
|
284
|
|
-------
|
-------
|
At 31st March 2017
|
2,734
|
2,734
|
|
-------
|
-------
|
Carrying amount
|
|
|
At 31st March 2017
|
853
|
853
|
|
-------
|
-------
|
At 31st March 2016
|
1,137
|
1,137
|
|
-------
|
-------
|
|
|
|
6.
Debtors
Trade debtors
|
13,139
|
7,288
|
|
--------
|
-------
|
|
|
|
7.
Creditors:
amounts falling due within one year
Corporation tax
|
10,216
|
8,159
|
Social security and other taxes
|
2,626
|
4,411
|
Other creditors
|
4,414
|
10,336
|
|
--------
|
--------
|
|
17,256
|
22,906
|
|
--------
|
--------
|
|
|
|
8.
Directors' Advances, Credits and Guarantees
There were no directors advances, credits and guarantees to disclose during the period.
9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st April 2015.
No transitional adjustments were required in equity or profit or loss for the year.