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COMPANY REGISTRATION NUMBER: 7866984
RE PROJECT MANAGEMENT TRAINING LTD
Filleted Unaudited Financial Statements
31 December 2023
RE PROJECT MANAGEMENT TRAINING LTD
Financial Statements
Year ended 31 December 2023
Contents
Page
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
RE PROJECT MANAGEMENT TRAINING LTD
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of RE PROJECT MANAGEMENT TRAINING LTD
Year ended 31 December 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants
P.O. Box 10901 Birmingham B1 1ZQ
28 June 2024
RE PROJECT MANAGEMENT TRAINING LTD
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
4,666
4,658
Current assets
Cash at bank and in hand
2,420
1,974
Creditors: amounts falling due within one year
5
38,712
22,091
--------
--------
Net current liabilities
36,292
20,117
--------
--------
Total assets less current liabilities
( 31,626)
( 15,459)
--------
--------
Net liabilities
( 31,626)
( 15,459)
--------
--------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
( 31,726)
( 15,559)
--------
--------
Shareholders deficit
( 31,626)
( 15,459)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 June 2024 , and are signed on behalf of the board by:
Mr R. Edwards
Director
Company registration number: 7866984
RE PROJECT MANAGEMENT TRAINING LTD
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Field Lane, Thornes, Wakefield, West Yorkshire, WF2 7RX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) No cash flow statement has been presented for the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property Improvements
-
10% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 January 2023
17,831
26,321
44,152
Additions
2,080
2,080
--------
--------
--------
At 31 December 2023
17,831
28,401
46,232
--------
--------
--------
Depreciation
At 1 January 2023
17,830
21,664
39,494
Charge for the year
2,072
2,072
--------
--------
--------
At 31 December 2023
17,830
23,736
41,566
--------
--------
--------
Carrying amount
At 31 December 2023
1
4,665
4,666
--------
--------
--------
At 31 December 2022
1
4,657
4,658
--------
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
38,712
22,091
--------
--------
6. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
7. Director's advances, credits and guarantees
At 31st December 2023, other creditors include the following amounts due to the director:- Mr R. Edwards £35,712 (2022 - £19,091) The loans are interest free and repayable on demand
8. Related party transactions
The company occupies premises owned by the director, it has been agreed that use of home as office amounting to £360 will be charged. No dividends have been paid to Mr R. Edwards , director, for period under review. No dividends have been paid to Mrs S. Edwards, a close family member, for period under review.