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REGISTERED NUMBER: 02563257 (England and Wales)


















STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

STANDGUIDE LIMITED

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3 to 4

Report of the Independent Auditors 5 to 8

Statement of Income and Retained Earnings 9

Balance Sheet 10

Notes to the Financial Statements 11 to 18


STANDGUIDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: G H G Baines
P M Slater
J M Gambles
M F Owen-Long
Mrs C Grundy





SECRETARY: P M Slater





REGISTERED OFFICE: Unit G.01
Clarence Arcade
Stamford Street Central
Ashton-under-Lyne
OL6 7PT





REGISTERED NUMBER: 02563257 (England and Wales)





AUDITORS: Allens Accountants Limited
Registered Auditors and
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

The directors present their strategic report for the year ended 31 July 2023.

REVIEW OF BUSINESS
The financial results were in line with expectations of the Board and continued the positive results from recent financial periods. Standguide enjoyed a successful trading year; Turnover decreased by 5.3% on the prior year to £11.43 million, but this had been anticipated due to contracts maturing. Expenses increased significantly during the year, with delivery moving almost entirely to face to face rather than remote and higher investment needed in Management and Administration costs to address the challenges in our sectors; this led to a reduction in net profitability for the year.

PRINCIPAL RISKS AND UNCERTAINTIES
The board is confident that our continued partnership work with Prime organisations, in addition to the contracts we hold with contracting authorities directly, will mean we will be able to sustain and improve the existing business going forward. The company continues to explore new opportunities for growth in its current and complementary sectors.
The board is alert to the continuing high-cost base in the economic environment, and its impact on profits across all aspects of our business.
Standguide has sufficient cash reserves to maintain the required liquidity to ensure that the business is a going concern and is able to realise its potential through future contractual growth.

FINANCIAL KEY PERFORMANCE INDICATORS
Gross margins of 89.4% slightly decreased from prior year (92.4%) due to the higher prevailing economic conditions and its impact on our delivery costs.
The board measures operating efficiencies utilising a balance scorecard approach where indicators such as contract performance levels and profitability measures are benchmarked and assessed against internal and external information.
The board also analyses financial KPI's such as operating profit margin, debtor/creditor days, liquidity ratios, and wages as a percentage of sales value. These are derived from the Monthly Management Information prepared for Directors and Senior Management.

FUTURE DEVELOPMENTS & GOING CONCERN
The outlook for 2023/24 remains positive, with an expectation that turnover will maintain at around the same level as 2022/23.

ON BEHALF OF THE BOARD:





J M Gambles - Director


24 April 2024

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

The directors present their report with the financial statements of the company for the year ended 31 July 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of training providers.

DIVIDENDS
No dividends will be distributed for the year ended 31 July 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2022 to the date of this report.

G H G Baines
P M Slater
J M Gambles
M F Owen-Long
Mrs C Grundy

ENGAGEMENT WITH EMPLOYEES
The company's policy is to regularly engage with employees at meetings and appraisals to discuss matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

DISABLED PERSONS
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career and promotion of disabled persons should, as far as possible, be identical to that of other employees. The company holds "Disability Confident - Level 3 (Leader)" status.

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with s.414C(11) Companies Act 2006 to set out in the group's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial risk management.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Allens Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J M Gambles - Director


24 April 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STANDGUIDE LIMITED

Opinion
We have audited the financial statements of Standguide Limited (the 'company') for the year ended 31 July 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STANDGUIDE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STANDGUIDE LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for the directors' remuneration, bonus levels and performance targets;
- results of our enquiries of management and the board of directors about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified

Our procedure to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management and the board of directors concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STANDGUIDE LIMITED

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Wright (Senior Statutory Auditor)
for and on behalf of Allens Accountants Limited
Registered Auditors and
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

24 April 2024

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 JULY 2023

31/7/23 31/7/22
Notes £    £   

TURNOVER 4 11,438,824 12,080,700

Cost of sales 1,204,103 915,257
GROSS PROFIT 10,234,721 11,165,443

Administrative expenses 9,655,703 8,268,666
OPERATING PROFIT 6 579,018 2,896,777

Interest receivable and similar income 34,441 1,695
PROFIT BEFORE TAXATION 613,459 2,898,472

Tax on profit 7 130,630 548,940
PROFIT FOR THE FINANCIAL YEAR 482,829 2,349,532

Retained earnings at beginning of year 4,699,040 2,474,508

Dividends 8 - (125,000 )

RETAINED EARNINGS AT END OF
YEAR

5,181,869

4,699,040

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

BALANCE SHEET
31 JULY 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 130,138 54,485

CURRENT ASSETS
Debtors 10 1,786,246 1,097,608
Cash at bank and in hand 5,131,637 5,856,456
6,917,883 6,954,064
CREDITORS
Amounts falling due within one year 11 1,837,257 2,302,523
NET CURRENT ASSETS 5,080,626 4,651,541
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,210,764

4,706,026

PROVISIONS FOR LIABILITIES 13 28,795 6,886
NET ASSETS 5,181,969 4,699,140

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 5,181,869 4,699,040
SHAREHOLDERS' FUNDS 5,181,969 4,699,140

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2024 and were signed on its behalf by:




J M Gambles - Director



M F Owen-Long - Director


STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Standguide 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and will continue to have the support of the group. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c).

Consolidated accounts for the ultimate parent of the group, Standguide Group Limited, can be obtained from the company's registered office.

Turnover
Turnover is measured at fair value of the consideration receivable and represents the total amount receivable for services provided in the normal course of business, excluding Value Added Tax and trade discounts.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 33% on cost
Motor vehicles - 33% on cost
Computer equipment - 33% on cost

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities.

The group enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, together with loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable in one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or received.

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 objective evidence if impairment is found, an impairment loss is recognised in the statement of comprehensive income.

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.


STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Dividends
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies above, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31/7/23 31/7/22
£    £   
United Kingdom 11,438,824 12,080,700
11,438,824 12,080,700

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. EMPLOYEES AND DIRECTORS
31/7/23 31/7/22
£    £   
Wages and salaries 7,072,116 6,238,726
Social security costs 628,150 540,575
Other pension costs 144,513 120,562
7,844,779 6,899,863

The average number of employees during the year was as follows:
31/7/23 31/7/22

Management and administration 48 29
Training providers 258 239
306 268

31/7/23 31/7/22
£    £   
Directors' remuneration 271,333 245,833
Directors' pension contributions to money purchase schemes 3,963 3,963

Information regarding the highest paid director is as follows:
31/7/23 31/7/22
£    £   
Emoluments etc 103,333 79,000
Pension contributions to money purchase schemes 1,321 1,321

6. OPERATING PROFIT

The operating profit is stated after charging:

31/7/23 31/7/22
£    £   
Hire of plant and machinery 620 -
Other operating leases 627,501 447,845
Depreciation - owned assets 51,925 31,912
Auditors' remuneration 20,500 -

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/7/23 31/7/22
£    £   
Current tax:
UK corporation tax 108,721 550,958

Deferred tax 21,909 (2,018 )
Tax on profit 130,630 548,940

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31/7/23 31/7/22
£    £   
Profit before tax 613,459 2,898,472
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

153,365

550,710

Effects of:
Adjustments to tax charge in respect of previous periods - (785 )
Capital allowances super deduction (4,235 ) (985 )
Change in Corporation Tax rate (18,500 ) -
Total tax charge 130,630 548,940

8. DIVIDENDS
31/7/23 31/7/22
£    £   
Interim - 125,000

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

9. TANGIBLE FIXED ASSETS
Fixtures Motor Computer
& fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 16,312 - 84,483 100,795
Additions 10,125 39,885 77,568 127,578
Disposals - - (1,090 ) (1,090 )
At 31 July 2023 26,437 39,885 160,961 227,283
DEPRECIATION
At 1 August 2022 4,061 - 42,249 46,310
Charge for year 7,547 2,218 42,160 51,925
Eliminated on disposal - - (1,090 ) (1,090 )
At 31 July 2023 11,608 2,218 83,319 97,145
NET BOOK VALUE
At 31 July 2023 14,829 37,667 77,642 130,138
At 31 July 2022 12,251 - 42,234 54,485

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors 1,158,172 890,011
Amounts owed by group undertakings 8,909 -
Other debtors 67,531 48,169
Directors' current accounts 321,220 -
Tax 79,313 -
Prepayments and accrued income 151,101 159,428
1,786,246 1,097,608

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade creditors 74,036 84,568
Amounts owed to group undertakings - 57,033
Corporation Tax 51,165 361,742
Social security and other taxes 159,476 139,837
VAT 608,626 531,619
Other creditors 166,345 -
Directors' current accounts - 35,226
Accruals and deferred income 777,609 1,092,498
1,837,257 2,302,523

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/7/23 31/7/22
£    £   
Within one year 180,711 195,876
Between one and five years 36,760 39,825
217,471 235,701

13. PROVISIONS FOR LIABILITIES
31/7/23 31/7/22
£    £   
Deferred tax 28,795 6,886

Deferred
tax
£   
Balance at 1 August 2022 6,886
Provided during year 21,909
Balance at 31 July 2023 28,795

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/23 31/7/22
value: £    £   
100 Ordinary £1 100 100

15. RESERVES

Retained earnings - includes all current and prior period retained profit and losses.

16. PENSION COMMITMENTS

The company operates a defined contributions scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. During the year, the company contributed £144,513 (2022: £120,562) to the fund.

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31/7/23 31/7/22
£    £   
G H G Baines
Balance outstanding at start of year - -
Amounts advanced 2,590 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,590 -

STANDGUIDE LIMITED (REGISTERED NUMBER: 02563257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P M Slater
Balance outstanding at start of year - -
Amounts advanced 1,963 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,963 -

J M Gambles
Balance outstanding at start of year - -
Amounts advanced 29,166 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,166 -

M F Owen-Long
Balance outstanding at start of year - -
Amounts advanced 235,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 235,000 -

Mrs C Grundy
Balance outstanding at start of year - -
Amounts advanced 54,000 -
Amounts repaid (1,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 52,500 -

18. ULTIMATE CONTROLLING PARTY

The company's controlling party is Standguide Group Limited, which is in turn controlled by the directors of the company.