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REGISTERED NUMBER: 11380394 (England and Wales)


















GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

STANDGUIDE GROUP LIMITED

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3 to 4

Report of the Independent Auditors 5 to 8

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17 to 25


STANDGUIDE GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







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





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





REGISTERED NUMBER: 11380394 (England and Wales)





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

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

The directors present their strategic report of the company and the group 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.

KEY FINANCIAL 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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year is that of a holding company.

The principal activity of the group in the year is that of training provider.

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.

J M Gambles
M F Owen-Long
Mrs C Grundy

Other changes in directors holding office are as follows:

G H G Baines and P M Slater were appointed as directors after 31 July 2023 but prior to the date of this report.

ENGAGEMENT WITH EMPLOYEES
The group'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 group'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 group continues and that the appropriate training is arranged. It is the policy of the group that the training, career and promotion of disabled persons should, as far as possible, be identical to that of other employees. The group 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 Group 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 the group and of the profit or loss of the group 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.


STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 group'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 group'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 GROUP LIMITED

Opinion
We have audited the financial statements of Standguide Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 July 2023 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 GROUP LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 pages three and four, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
STANDGUIDE GROUP 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 GROUP 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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

CONSOLIDATED
INCOME STATEMENT
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 9,656,105 8,268,771
OPERATING PROFIT 6 578,616 2,896,672

Interest receivable and similar income 34,441 1,695
PROFIT BEFORE TAXATION 613,057 2,898,367

Tax on profit 7 130,630 548,940
PROFIT FOR THE FINANCIAL YEAR 482,427 2,349,427
Profit attributable to:
Owners of the parent 337,632 1,644,599
Non-controlling interests 144,795 704,828
482,427 2,349,427

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023

31/7/23 31/7/22
Notes £    £   

PROFIT FOR THE YEAR 482,427 2,349,427


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

482,427

2,349,427

Total comprehensive income attributable to:
Owners of the parent 337,632 1,644,599
Non-controlling interests 144,795 704,828
482,427 2,349,427

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

CONSOLIDATED BALANCE SHEET
31 JULY 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 130,138 54,485
Investments 11 - -
130,138 54,485

CURRENT ASSETS
Debtors 12 1,758,136 1,097,708
Cash at bank and in hand 5,134,702 5,859,896
6,892,838 6,957,604
CREDITORS
Amounts falling due within one year 13 1,838,417 2,331,866
NET CURRENT ASSETS 5,054,421 4,625,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,184,559

4,680,223

PROVISIONS FOR LIABILITIES 15 28,795 6,886
NET ASSETS 5,155,764 4,673,337

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 3,601,022 3,263,390
SHAREHOLDERS' FUNDS 3,601,122 3,263,490

NON-CONTROLLING INTERESTS 1,554,642 1,409,847
TOTAL EQUITY 5,155,764 4,673,337

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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

COMPANY BALANCE SHEET
31 JULY 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 1,145,770 1,145,770
1,145,770 1,145,770

CURRENT ASSETS
Debtors 12 - 57,033
Cash at bank 1,904 2,100
1,904 59,133
CREDITORS
Amounts falling due within one year 13 28,280 85,287
NET CURRENT LIABILITIES (26,376 ) (26,154 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,119,394

1,119,616

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 1,119,294 1,119,516
SHAREHOLDERS' FUNDS 1,119,394 1,119,616

Company's (loss)/profit for the financial year (222 ) 87,500

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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 August 2021 100 1,706,291 1,706,391 742,519 2,448,910

Changes in equity
Dividends - (87,500 ) (87,500 ) (37,500 ) (125,000 )
Total comprehensive income - 1,644,599 1,644,599 704,828 2,349,427
Balance at 31 July 2022 100 3,263,390 3,263,490 1,409,847 4,673,337

Changes in equity
Total comprehensive income - 337,632 337,632 144,795 482,427
Balance at 31 July 2023 100 3,601,022 3,601,122 1,554,642 5,155,764

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2021 100 1,119,516 1,119,616

Changes in equity
Dividends - (87,500 ) (87,500 )
Total comprehensive income - 87,500 87,500
Balance at 31 July 2022 100 1,119,516 1,119,616

Changes in equity
Total comprehensive income - (222 ) (222 )
Balance at 31 July 2023 100 1,119,294 1,119,394

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

31/7/23 31/7/22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 288,917 3,132,715
Tax paid (498,000 ) (828,138 )
Net cash from operating activities (209,083 ) 2,304,577

Cash flows from investing activities
Purchase of tangible fixed assets (127,578 ) (17,286 )
Interest received 33,829 1,695
Net cash from investing activities (93,749 ) (15,591 )

Cash flows from financing activities
Other loans received / (paid) (39,780 ) (33,387 )
Amount withdrawn by directors (382,582 ) (133,467 )
Equity dividends paid - (87,500 )
Dividends paid to minority interests - (37,500 )
Net cash from financing activities (422,362 ) (291,854 )

(Decrease)/increase in cash and cash equivalents (725,194 ) 1,997,132
Cash and cash equivalents at beginning of
year

2

5,859,896

3,862,764

Cash and cash equivalents at end of year 2 5,134,702 5,859,896

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31/7/23 31/7/22
£    £   
Profit before taxation 613,057 2,898,367
Depreciation charges 51,925 31,912
Finance income (34,441 ) (1,695 )
630,541 2,928,584
(Increase)/decrease in trade and other debtors (279,196 ) 294,107
Decrease in trade and other creditors (62,428 ) (89,976 )
Cash generated from operations 288,917 3,132,715

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2023
31/7/23 1/8/22
£    £   
Cash and cash equivalents 5,134,702 5,859,896
Year ended 31 July 2022
31/7/22 1/8/21
£    £   
Cash and cash equivalents 5,859,896 3,862,764


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/8/22 Cash flow At 31/7/23
£    £    £   
Net cash
Cash at bank and in hand 5,859,896 (725,194 ) 5,134,702
5,859,896 (725,194 ) 5,134,702
Debt
Debts falling due within 1 year (120,443 ) 120,443 -
(120,443 ) 120,443 -
Total 5,739,453 (604,751 ) 5,134,702

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

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

1. STATUTORY INFORMATION

Standguide Group 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 General 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
After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its consolidated financial statements.

Basis of consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings made up to 31 July 2023.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Acquisitions of subsidiaries and businesses are accounted for using the acquisition method. The cost of the business combination is measured at the aggregate of the fair values (at the date of exchange) of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquiree plus costs directly attributable to the business combination.

Any excess of the cost of the business combination over the acquirer's interest in the net fair value of the identifiable assets and liabilities is recognised as goodwill. If the net fair value of the identifiable assets and liabilities exceeds the cost of the business combination the excess is recognised separately on the face of the consolidated balance sheet immediately below goodwill.

All inter-group transactions, balances, income and expenses are eliminated in full on consolidation.

Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less impairment in the individual financial statements.

Income recognition
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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

NOTES TO THE CONSOLIDATED 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 Consolidated 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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

NOTES TO THE CONSOLIDATED 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 group operates a defined contribution pension scheme. Contributions payable to the group'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 group.

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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

NOTES TO THE CONSOLIDATED 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 243,333 219,000
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 GROUP LIMITED (REGISTERED NUMBER: 11380394)

NOTES TO THE CONSOLIDATED 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 % (2022 - 19 %).

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 613,057 2,898,367
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2022 - 19 %)

153,264

550,690

Effects of:
Expenses not deductible for tax purposes 100 20
Adjustments to tax charge in respect of previous periods - (785 )
Capital allowances super deduction (4,234 ) (985 )
Change in Corporation Tax rate (18,500 ) -
Total tax charge 130,630 548,940

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
31/7/23 31/7/22
£    £   
Ordinary shares shares of £1.00 each
Interim - 87,500

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

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

10. TANGIBLE FIXED ASSETS

Group
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

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 August 2022
and 31 July 2023 1,145,770
NET BOOK VALUE
At 31 July 2023 1,145,770
At 31 July 2022 1,145,770


The company's investments at the Balance Sheet date in the share capital of companies include the following:


Name
Country of
Incorporation
Class of
Shares

Holding

Principal Activity

Standguide Limited England and Wales Ordinary 70% Training provider
Staffroutes Limited England and Wales Ordinary 70% Training provider


The registered office for all the above companies is Unit G.01, Clarence Arcade, Stamford Street Central, Ashton-under-Lyne, OL6 7PT.

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

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

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31/7/23 31/7/22 31/7/23 31/7/22
£    £    £    £   
Trade debtors 1,158,172 890,011 - -
Amounts owed by group undertakings - - - 57,033
Other debtors 72,185 48,269 - -
Directors' current accounts 297,365 - - -
Tax 79,313 - - -
Prepayments and accrued income 151,101 159,428 - -
1,758,136 1,097,708 - 57,033

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31/7/23 31/7/22 31/7/23 31/7/22
£    £    £    £   
Trade creditors 74,037 84,567 - -
Amounts owed to group undertakings - - 8,909 -
Corporation Tax 51,254 361,832 - -
Social security and other taxes 159,476 139,837 - -
VAT 608,626 531,619 - -
Other creditors 166,415 35,296 70 70
Directors' loan accounts - 85,217 19,301 85,217
Accruals and deferred income 778,609 1,093,498 - -
1,838,417 2,331,866 28,280 85,287

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
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

15. PROVISIONS FOR LIABILITIES

Group
31/7/23 31/7/22
£    £   
Deferred tax 28,795 6,886

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

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

15. PROVISIONS FOR LIABILITIES - continued

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

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/23 31/7/22
value: £    £   
100 Ordinary shares £1.00 100 100

17. RESERVES

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

18. PENSION COMMITMENTS

The group operates a defined contributions scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. During the year, the group contributed £144,512 (2022: £120,562) to the fund.

19. 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
£    £   
J M Gambles
Balance outstanding at start of year - -
Amounts advanced 18,127 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,127 -

M F Owen-Long
Balance outstanding at start of year - -
Amounts advanced 226,738 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 226,738 -

STANDGUIDE GROUP LIMITED (REGISTERED NUMBER: 11380394)

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

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

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

20. RELATED PARTY DISCLOSURES

During the year, a total of key management personnel compensation of £ 243,333 was paid.

21. ULTIMATE CONTROLLING PARTY

The directors do not consider there to be an ultimate controlling party of the group.