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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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Conflict Management Plus Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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Conflict Management Plus Limited |
Conflict Management Plus Limited (Registered number: 03880628) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Conflict Management Plus Limited |
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Company Information |
for the Year Ended 31 March 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
Conflict Management Plus Limited (Registered number: 03880628) |
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Abridged Balance Sheet |
31 March 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Share premium | 7 |
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Capital redemption reserve | 7 |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Conflict Management Plus Limited (Registered number: 03880628) |
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Abridged Balance Sheet - continued |
31 March 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement 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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Conflict Management Plus Limited (Registered number: 03880628) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Conflict Management Plus Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
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The financial statements have been prepared under the historical cost convention. |
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On the date of signing these financial statements, there was a world-wide pandemic. It is currently unknown how long the pandemic will last and the lasting impact that it will have on the trading activity of the company. The directors believe that the company will continue to be profitable and will have adequate cash resources in order to pay all of its creditors as they fall due for the foreseeable future and for at least 12 months from the date of signing of these financial statements. |
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Preparation of consolidated financial statements |
The financial statements contain information about Conflict Management Plus Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Government grants are recognised in the financial statements using the accruals model. Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Conflict Management Plus Limited (Registered number: 03880628) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
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Basic financial assets |
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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Basic financial liabilities |
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Conflict Management Plus Limited (Registered number: 03880628) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Share-based payments |
The company has applied the requirements of FRS 102 Share-based Payments. |
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The company issues equity-settled share based payments to certain employees in the form of share options. These are measured at fair value at the date of grant. The fair value determined at the grant date of the equity settled share-based payments is expensed on a straight-line basis over the vesting period, based on the company's estimate of shares that will eventually vest and adjusted for the effect of non market-based vesting conditions. |
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Pension commitments |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 April 2020 |
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Additions |
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Disposals | ( |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 April 2020 | 70,000 |
Impairments | (70,000 | ) |
At 31 March 2021 | - |
NET BOOK VALUE |
At 31 March 2021 | - |
At 31 March 2020 | 70,000 |
Conflict Management Plus Limited (Registered number: 03880628) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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5. | FIXED ASSET INVESTMENTS - continued |
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The investment in the subsidiary Marshall- James Employee Relations Ltd has been written down to nil value at the year end. This company has been dissolved since the year end. |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.21 | 31.3.20 |
value: | £ | £ |
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A Ordinary | £1 | 100 | 100 |
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B Ordinary | £1 | 15 | 15 |
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C Ordinary | £1 | 7 | 7 |
122 | 122 |
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The A Ordinary Shares shall have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption. |
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The B Ordinary Shares shall have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption. |
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The C Ordinary Shares shall have attached to them full dividend and capital distribution ( including on winding up) rights; they do not confer any rights to receive notice of, attend, count in quorum and vote in meetings of shareholders. No shares shall be transferred and no amendments or alterations shall be made to the company's articles of association without prior consent of the C Ordinary Shareholders. |
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7. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
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At 1 April 2020 |
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1,012,546 |
Profit for the year |
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Dividends | ( |
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At 31 March 2021 |
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1,258,133 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020: |
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31.3.21 | 31.3.20 |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Conflict Management Plus Limited (Registered number: 03880628) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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The balance of the loan was fully repaid on 2 April 2019. |
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9. | ENTERPRISE MANAGEMENT INCENTIVE SCHEME |
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On 20 October 2017 the company approved the Conflict Management Plus Ltd Enterprise Management Incentive Scheme. The company granted share options over a total of 29 B Ordinary Shares to 1 director. The options can be exercised at a price of £340 per share and the right to option expires on 20 October 2027. The options to acquire shares may only be exercised when certain time periods elapse. All options granted to an employee will lapse should they leave the company. A sum of £nil was paid by each director on the grant of the option. |
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15 of the B Ordinary Share Options were exercised on 2 February 2018 at a price of £340 per share. A further 14 of the Option Shares shall become vested and exercisable if the accounts for any financial year show both turnover of at least £1.8m and profit before interest and tax, but after the Special Dividend (payable to the A Ordinary shareholder) of at least £200,000. |
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On 20 October 2017 the company also granted share options over a total of 14 C ordinary shares to 1 employee. The options can be exercised at a price of £340 per share and the right to option expires on 20 October 2027. The options to acquire shares may only be exercised when certain time periods elapse. All options granted to an employee will lapse should they leave the company. A sum of £nil was paid by each employee on the grant of the option. |
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7 of the C Ordinary Share Options were exercised on 2 February 2018 at a price of £340 per share. A further 7 of the Option Shares shall become vested and exercisable if the accounts for any financial year show both turnover of at least £1.8m and profit before interest and tax, but after the Special Dividend (payable to the A Ordinary shareholder) of at least £200,000. |
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10. | PENSION COMMITMENTS |
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The pension cost charge represents contributions payable by the company to the fund and amounted to £48,060 (2020: £45,945). At the end of the year on 31 March 2021 there was a balance of £0 outstanding to be paid (2020: £1,366) |