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Company No: 04599425 (England and Wales)

GHQ TRAINING LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

GHQ TRAINING LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

GHQ TRAINING LIMITED

BALANCE SHEET

As at 30 November 2023
GHQ TRAINING LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 27,730 33,687
27,730 33,687
Current assets
Stocks 2,576 710
Debtors 4 32,370 25,639
Cash at bank and in hand 955 1,255
35,901 27,604
Creditors: amounts falling due within one year 5 ( 26,661) ( 50,909)
Net current assets/(liabilities) 9,240 (23,305)
Total assets less current liabilities 36,970 10,382
Creditors: amounts falling due after more than one year 6 ( 34,413) ( 35,497)
Provision for liabilities 5,031 5,031
Net assets/(liabilities) 7,588 ( 20,084)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 7,488 ( 20,184 )
Total shareholders' funds/(deficit) 7,588 ( 20,084)

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of GHQ Training Limited (registered number: 04599425) were approved and authorised for issue by the Board of Directors on 05 February 2024. They were signed on its behalf by:

Mr C J Rogers
Director
GHQ TRAINING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
GHQ TRAINING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GHQ Training Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Elizabeth Court, Whimple Street, Plymouth, PL1 2DH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 13

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 December 2022 137,459 94,382 231,841
At 30 November 2023 137,459 94,382 231,841
Accumulated depreciation
At 01 December 2022 112,815 85,339 198,154
Charge for the financial year 3,696 2,261 5,957
At 30 November 2023 116,511 87,600 204,111
Net book value
At 30 November 2023 20,948 6,782 27,730
At 30 November 2022 24,644 9,043 33,687

4. Debtors

2023 2022
£ £
Trade debtors 13,430 5,215
Other debtors 18,940 20,424
32,370 25,639

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 6,257 6,216
Trade creditors 2,562 31,459
Accruals 6,441 7,159
Other taxation and social security 1,088 5,854
Other creditors 10,313 221
26,661 50,909

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 34,413 35,497

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100