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REGISTERED NUMBER: 03612942 (England and Wales)











IPP Education Limited

Financial Statements

for the Year Ended 30 June 2023






IPP Education Limited (Registered number: 03612942)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IPP Education Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: K Pullar
L Lay
C Warrington
C Vidgeon
J Davenport





SECRETARY: C Vidgeon





REGISTERED OFFICE: Goldfinger House
245 Cranmore Boulevard
Shirley
Solihull
West Midlands
B90 4ZL





REGISTERED NUMBER: 03612942 (England and Wales)





AUDITORS: Haines Watts Tamworth Limited
Chartered Accountants and Statutory Auditors
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

IPP Education Limited (Registered number: 03612942)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,207 17,972
Tangible assets 5 143,919 162,963
Investments 6 50 50
159,176 180,985

CURRENT ASSETS
Debtors 7 1,564,783 1,081,535
Cash at bank and in hand 1,965,851 1,580,118
3,530,634 2,661,653
CREDITORS
Amounts falling due within one year 8 2,339,715 1,918,840
NET CURRENT ASSETS 1,190,919 742,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,350,095

923,798

PROVISIONS FOR LIABILITIES 9 32,603 27,833
NET ASSETS 1,317,492 895,965

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 1,317,488 895,961
SHAREHOLDERS' FUNDS 1,317,492 895,965

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 23 November 2023 and were signed on its behalf by:





J Davenport - Director


IPP Education Limited (Registered number: 03612942)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

IPP Education Limited is a private company, limited by shares , registered in England and Wales. 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. Budgets and cash flow projections compiled indicate that the company has sufficient reserves to continue to trade and the directors believe that support afforded, careful cashflow considerations is sufficient upon which to adopt the going concern basis.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

- A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

- Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

- Depreciation and residual values. Management have reviewed the asset lives and associated residual values of all fixed asset classes and concluded that they are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

IPP Education Limited (Registered number: 03612942)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criterior must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
1. the company has transferred the significant risks and rewards of ownership to the buyer;
2. the company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
3. the amount of revenue can be measured reliably;
4. it is probable that the company will receive the consideration due under the transaction; and
5. the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
1. the amount of revenue can be measured reliably;
2. it is probable that the company will receive the consideration due under the contract;
3. the stage of completion of the contract at the end of the reporting period can be measured reliably and
4. the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 30% on cost, 20% on cost and 10% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans to or from related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the Income Statement.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


IPP Education Limited (Registered number: 03612942)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued
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.

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.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 127 (2022 - 122 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 27,650
AMORTISATION
At 1 July 2022 9,678
Charge for year 2,765
At 30 June 2023 12,443
NET BOOK VALUE
At 30 June 2023 15,207
At 30 June 2022 17,972

IPP Education Limited (Registered number: 03612942)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 723,665
Additions 33,855
Disposals (595 )
At 30 June 2023 756,925
DEPRECIATION
At 1 July 2022 560,702
Charge for year 52,438
Eliminated on disposal (134 )
At 30 June 2023 613,006
NET BOOK VALUE
At 30 June 2023 143,919
At 30 June 2022 162,963

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 50
NET BOOK VALUE
At 30 June 2023 50
At 30 June 2022 50

The company owns 50% of the ordinary issued share capital of IPPFHE Limited ("IPPFHE"). IPPFHE has no activity of its own and acts merely as an agent for the shareholders, in order to procure and distribute certain government funding. IPP Education Limited therefore accounts directly for its own share of the results of IPPFHE as if they were directly attributable to the company, in accordance with Financial Reporting Standard 102.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 460,252 485,654
Amounts owed by group undertakings 673,850 171,497
Other debtors 430,681 424,384
1,564,783 1,081,535

IPP Education Limited (Registered number: 03612942)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 510,618 349,485
Taxation and social security 424,719 378,781
Other creditors 1,404,378 1,190,574
2,339,715 1,918,840

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 32,603 27,833

Deferred
tax
£   
Balance at 1 July 2022 27,833
Charge to Income Statement during year 4,770
Balance at 30 June 2023 32,603

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary £1 4 4

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Butler BA FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Tamworth Limited

12. CONTINGENT LIABILITIES

Guarantees have been given to the bank in respect of bank loans and overdrafts of fellow group companies. At the balance sheet date these amounted to £229,782 (2022: £276,573).

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose transactions with the parent company or other members of the corporate group.

14. CONTROLLING PARTY

The controlling party is The Chartered Institute of Payroll Professionals.

The immediate and ultimate parent undertaking is The Chartered Institute of Payroll Professionals, a company incorporated by Royal Charter in England & Wales. Consolidated financial statements are available from The Chartered Institute of Payroll Professionals, Goldfinger House, 245 Cranmore Boulevard, Shirley, Solihull, B90 4ZL.