Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31true792022-08-01falseNo description of principal activity45trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02703089 2022-08-01 2023-07-31 02703089 2021-08-01 2022-07-31 02703089 2023-07-31 02703089 2022-07-31 02703089 c:Director1 2022-08-01 2023-07-31 02703089 d:Buildings 2022-08-01 2023-07-31 02703089 d:Buildings 2023-07-31 02703089 d:Buildings 2022-07-31 02703089 d:Buildings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02703089 d:Buildings d:LongLeaseholdAssets 2022-08-01 2023-07-31 02703089 d:Buildings d:ShortLeaseholdAssets 2022-08-01 2023-07-31 02703089 d:Buildings d:ShortLeaseholdAssets 2023-07-31 02703089 d:Buildings d:ShortLeaseholdAssets 2022-07-31 02703089 d:PlantMachinery 2022-08-01 2023-07-31 02703089 d:MotorVehicles 2022-08-01 2023-07-31 02703089 d:FurnitureFittings 2022-08-01 2023-07-31 02703089 d:FurnitureFittings 2023-07-31 02703089 d:FurnitureFittings 2022-07-31 02703089 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02703089 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02703089 d:CurrentFinancialInstruments 2023-07-31 02703089 d:CurrentFinancialInstruments 2022-07-31 02703089 d:Non-currentFinancialInstruments 2023-07-31 02703089 d:Non-currentFinancialInstruments 2022-07-31 02703089 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02703089 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 02703089 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 02703089 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 02703089 d:ShareCapital 2023-07-31 02703089 d:ShareCapital 2022-07-31 02703089 d:RevaluationReserve 2022-08-01 2023-07-31 02703089 d:RevaluationReserve 2023-07-31 02703089 d:RevaluationReserve 2022-07-31 02703089 d:OtherMiscellaneousReserve 2022-08-01 2023-07-31 02703089 d:OtherMiscellaneousReserve 2023-07-31 02703089 d:OtherMiscellaneousReserve 2022-07-31 02703089 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 02703089 d:RetainedEarningsAccumulatedLosses 2023-07-31 02703089 d:RetainedEarningsAccumulatedLosses 2022-07-31 02703089 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 02703089 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 02703089 c:FRS102 2022-08-01 2023-07-31 02703089 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 02703089 c:FullAccounts 2022-08-01 2023-07-31 02703089 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 02703089 2 2022-08-01 2023-07-31 02703089 6 2022-08-01 2023-07-31 02703089 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 02703089 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 02703089 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 02703089










CENTRAL TRAINING ACADEMY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
CENTRAL TRAINING ACADEMY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CENTRAL TRAINING ACADEMY LIMITED
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central Training Academy Limited for the year ended 31 July 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Central Training Academy Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Central Training Academy Limited and state those matters that we have agreed to state to the director of Central Training Academy Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Training Academy Limited and its director for our work or for this report. 

It is your duty to ensure that Central Training Academy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Central Training Academy Limited. You consider that Central Training Academy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Central Training Academy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS
 
Chartered Accountants
  
Kingsridge House
601 London Road
Westcliff on Sea
Essex
SS0 9PE
21 March 2024
Page 1

 
CENTRAL TRAINING ACADEMY LIMITED
REGISTERED NUMBER: 02703089

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
549,280
507,766

Investments
 5 
76
76

  
549,356
507,842

Current assets
  

Debtors: amounts falling due within one year
 6 
1,017,536
627,836

Cash at bank and in hand
 7 
30,005
467,613

  
1,047,541
1,095,449

Creditors: amounts falling due within one year
 8 
(185,018)
(287,760)

Net current assets
  
 
 
862,523
 
 
807,689

Total assets less current liabilities
  
1,411,879
1,315,531

Creditors: amounts falling due after more than one year
 9 
(26,630)
(36,481)

Provisions for liabilities
  

Deferred tax
 13 
(6,701)
(6,701)

  
 
 
(6,701)
 
 
(6,701)

Net assets
  
1,378,548
1,272,349


Capital and reserves
  

Called up share capital 
  
200
200

Revaluation reserve
 14 
363,344
309,215

Other reserves
 14 
150,000
150,000

Profit and loss account
 14 
865,004
812,934

  
1,378,548
1,272,349


Page 2

 
CENTRAL TRAINING ACADEMY LIMITED
REGISTERED NUMBER: 02703089

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 March 2024.




M.P. Kolton
Director

The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

1.


General information

Central Training Academy Limited is a limited company incorporated in England and Wales. The Registered Office is 601 London Road, Westcliff on Sea, Essex, SS0 9PE. The registered number is 02073089.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

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 criteria must also be met before revenue is recognised:

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:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, under the following basis.

Depreciation is provided on the following basis:

Freehold land
-
no depreciation
Freehold buildings
-
2% straight line basis
Long-term leasehold property
-
2% straight line basis
Short-term leasehold property
-
Straight line over 10 years
Motor vehicles
-
25% straight line basis
Fixtures, fittings and equipment
-
20% straight line basis (or over the term of the finance lease if shorter)

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.
Fair values are determined from market based evidence.
Revaluation gains and losses are recognised in the Statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

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 method, less any impairment.

 
2.14

Cash and cash equivalents

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.

Page 6

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

2.Accounting policies (continued)

 
2.15

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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 7

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

2.Accounting policies (continued)


2.17
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 79 (2022 - 45).

Page 8

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

4.


Tangible fixed assets





Freehold property
Short-term leasehold property
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2022
475,000
32,500
251,298
758,798


Additions
-
-
2,010
2,010


Revaluations
50,000
-
-
50,000



At 31 July 2023

525,000
32,500
253,308
810,808



Depreciation


At 1 August 2022
-
32,500
218,531
251,031


Charge for the year on owned assets
5,000
-
10,497
15,497


On revalued assets
(5,000)
-
-
(5,000)



At 31 July 2023

-
32,500
229,028
261,528



Net book value



At 31 July 2023
525,000
-
24,280
549,280



At 31 July 2022
475,000
-
32,766
507,766

Page 9

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
The freehold land and buildings were valued by the directors of the company at the balance sheet date based on open market value (excluding potential future selling costs). The directors consider the value of the freehold land to be £275,000.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
£



Cost
161,656

Net book value
161,656


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2022
76



At 31 July 2023
76





6.


Debtors

2023
2022
£
£


Trade debtors
1,012,485
611,674

Prepayments and accrued income
5,051
16,162

1,017,536
627,836



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
30,005
467,613

30,005
467,613


Page 10

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,851
9,596

Trade creditors
104,534
212,244

Corporation tax
15,824
29,977

Other taxation and social security
27,983
16,250

Accruals and deferred income
26,826
19,693

185,018
287,760



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
26,630
36,481

26,630
36,481



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,851
9,596


9,851
9,596

Amounts falling due 1-2 years

Bank loans
10,106
9,851


10,106
9,851

Amounts falling due 2-5 years

Bank loans
16,523
26,630


16,523
26,630


36,480
46,077


Page 11

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£

 
-
 
-


12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
30,005
30,005




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 12

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

13.


Deferred taxation




2023


£






At beginning of year
(6,701)



At end of year
(6,701)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,701)
(6,701)

(6,701)
(6,701)




14.


Reserves

Revaluation reserve

The revaluation reserve relates to the fair value adjustment of the freehold property.

Other reserves

Other reserves relate to a capital reserve.

Profit and loss account

The profit and loss account comprises the retained profits and losses of the company.


15.


Contingent liabilities

The company has given an unlimited guarantee in respect of the bank borrowings of Central Hairdressing Training Centre Limited (see note 16), but the directors do not consider any liability will arise.
At the balance sheet date, the directors do not consider there to be any other contingent liabilities (2022 nil).


16.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions paid by the company to the fund and amounted to £23,821 (2022 £18,370). 

Page 13

 
CENTRAL TRAINING ACADEMY LIMITED
 

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

17.


Related party transactions

These financial statements include transactions and balances with related parties as detailed in the following paragraphs.
Companies under common control: Trade debtors £650,329 (2022 £279,206)
A company with a common director that holds 50% of the voting rights, with the remaining director of this company  holding no voting rights but being entitled to a share of dividends and assets on a sale or winding up: Trade creditors £Nil (2022 £506).
Transactions with directors: Dividends £ Nil (2022 £68,536).
The Directors have personally guaranteed the bank borrowings of the company up to £250,000.
The company has given an unlimited guarantee in respect of the bank borrowings of a company under common control who similarly have given an unlimited guarantee in respect of the bank borrowings of this company. 


18.


Controlling party

The ultimate controlling party is the director via his own shareholding and that of Central Hairdressing Training Centre Limited.


Page 14