Registered number
02758558
Credit Management Training Limited
Unaudited Filleted Accounts
31 December 2023
Credit Management Training Limited
Registered number: 02758558
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Current assets
Debtors 4 8,991 8,991
Cash at bank and in hand 2,073 8,793
11,064 17,784
Creditors: amounts falling due within one year 5 (42,706) (40,041)
Net current liabilities (31,642) (22,257)
Total assets less current liabilities (31,641) (22,256)
Creditors: amounts falling due after more than one year 6 (4,283) (7,249)
Net liabilities (35,924) (29,505)
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account (45,924) (39,505)
Shareholders' funds (35,924) (29,505)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S G Savva FCICM
Director
Approved by the board on 28 August 2024
Credit Management Training Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property improvements over 50 years
Leasehold land and buildings over the lease term
Fixtures and fittings 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Software development:
Cost
At 1 January 2023 36,774
At 31 December 2023 36,774
Amortisation
At 1 January 2023 36,773
At 31 December 2023 36,773
Net book value
At 31 December 2023 1
At 31 December 2022 1
Software development is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2023 2022
£ £
Trade debtors 8,991 8,991
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,195 3,195
Trade creditors 16 46
Other taxes and social security costs 5,052 5,934
Other creditors 34,443 30,866
42,706 40,041
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,283 7,249
7 Related party transactions
During the year the director invoiced the company for his services as consultant. The total value of invoices raised by Mr Savva was £nil (2022, £8000).
8 Controlling party
The controlling party of Credit Management Training Limited is Mr SG Savva.
9 Other information
Credit Management Training Limited is a private company limited by shares and incorporated in England. Its registered office is:
1148a Stratford Road
Hall Green
Birmingham
West Midlands
B28 8AF
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