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REGISTERED NUMBER: SC165883 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

STUC TRAINING LIMITED

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STUC TRAINING LIMITED

Company Information
for the Year Ended 31 December 2021







DIRECTORS: P Rafferty
Ms R Foyer
Ms M Senior





SECRETARY: Ms R Foyer





REGISTERED OFFICE: 8 Landressy Street
Glasgow
G40 1BP





REGISTERED NUMBER: SC165883 (Scotland)





ACCOUNTANTS: Watson & Company
Oakfield House
378 Brandon Street
Motherwell
NORTH LANARKSHIRE
ML1 1XA

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 972,080 1,418,347

CURRENT ASSETS
Debtors 5 554,345 307,374
Cash at bank and in hand 649,737 1,093,715
1,204,082 1,401,089
CREDITORS
Amounts falling due within one year 6 663,157 1,287,112
NET CURRENT ASSETS 540,925 113,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,513,005

1,532,324

CREDITORS
Amounts falling due after more than one
year

7

(537,638

)

(537,638

)

PROVISIONS FOR LIABILITIES - (151,178 )
NET ASSETS 975,367 843,508

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 - 997,917
Retained earnings 975,267 (154,509 )
975,367 843,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2022 and were signed on its behalf by:




Ms R Foyer - Director



P Rafferty - Director


STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

STUC Training Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 1,400,000 172,780 1,572,780
Additions 965,700 13,889 979,589
Disposals (1,400,000 ) - (1,400,000 )
At 31 December 2021 965,700 186,669 1,152,369
DEPRECIATION
At 1 January 2021 - 154,433 154,433
Charge for year 19,349 6,507 25,856
At 31 December 2021 19,349 160,940 180,289
NET BOOK VALUE
At 31 December 2021 946,351 25,729 972,080
At 31 December 2020 1,400,000 18,347 1,418,347

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 538,721 272,849
Other debtors 15,624 34,525
554,345 307,374

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 236,268 318,250
Taxation and social security 592 1,449
Other creditors 426,297 967,413
663,157 1,287,112

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Other creditors 537,638 537,638

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. RESERVES
Revaluation
reserve
£   
At 1 January 2021 997,917
Transfer to profit & loss (997,917 )

At 31 December 2021 -

9. CONTINGENT LIABILITIES

A charge on the property at 333 Woodlands Road, Glasgow G3 6NG was created by the company on 10 April 2009 securing all sums due or to become due in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme. An additional standard security in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme was created on 28 September 2011, updated on 6 May 2017 and further updated on 29 March 2019. The security is for the lower of the entire aggregate liability and £1,026,000. On 29 July 2021 and following the sale of the aforementioned property, the security was reassigned to 8 Landressy Street, Glasgow G40 1BP, a property owned by STUC Training Ltd.

On 30 July 2021 a security was granted in favour of Clyde Gateway Developments Ltd over a specified area of the property at 8 Landressy Street, Glasgow G40 1BP. This security is in respect of possible further amounts due based on valuations at five and ten year intervals after the initial purchase of this property. This security is postponed to the extent of all sums due and to become due under the standard security granted or to be granted in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme over the secured subjects..

An amount of £260,000 was placed in a Fixed Term Deposit by the company and a first fixed charge security is held over this account, including all sums from time to time standing to the credit of the account, in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme.

10. CAPITAL COMMITMENTS
2021 2020
£    £   
Contracted but not provided for in the
financial statements - 900,000

In 2021 the company purchased property for office accommodation at an initial cost of £900,000 inclusive of vat. Further amounts may be due after 5 and 10 years respectively when the property will be independently valued. Should there be an increase in the market value then the company will be liable to pay an amount equivalent to any such increase in value less allowable costs. The total additional amount payable will not exceed £250,000 plus vat.