Caseware UK (AP4) 2023.0.135 2023.0.135 242023-01-01falseNo description of principal activity25truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02988749 2023-01-01 2023-12-31 02988749 2022-01-01 2022-12-31 02988749 2023-12-31 02988749 2022-12-31 02988749 c:Director6 2023-01-01 2023-12-31 02988749 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 02988749 d:Buildings d:LongLeaseholdAssets 2023-12-31 02988749 d:Buildings d:LongLeaseholdAssets 2022-12-31 02988749 d:FurnitureFittings 2023-01-01 2023-12-31 02988749 d:FurnitureFittings 2023-12-31 02988749 d:FurnitureFittings 2022-12-31 02988749 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02988749 d:ComputerEquipment 2023-01-01 2023-12-31 02988749 d:ComputerEquipment 2023-12-31 02988749 d:ComputerEquipment 2022-12-31 02988749 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02988749 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02988749 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 02988749 d:Goodwill 2023-01-01 2023-12-31 02988749 d:Goodwill 2023-12-31 02988749 d:Goodwill 2022-12-31 02988749 d:ComputerSoftware 2023-12-31 02988749 d:ComputerSoftware 2022-12-31 02988749 d:CurrentFinancialInstruments 2023-12-31 02988749 d:CurrentFinancialInstruments 2022-12-31 02988749 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02988749 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02988749 d:ShareCapital 2023-12-31 02988749 d:ShareCapital 2022-12-31 02988749 d:SharePremium 2023-12-31 02988749 d:SharePremium 2022-12-31 02988749 d:CapitalRedemptionReserve 2023-12-31 02988749 d:CapitalRedemptionReserve 2022-12-31 02988749 d:RetainedEarningsAccumulatedLosses 2023-12-31 02988749 d:RetainedEarningsAccumulatedLosses 2022-12-31 02988749 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02988749 c:OrdinaryShareClass1 2023-12-31 02988749 c:OrdinaryShareClass1 2022-12-31 02988749 c:OrdinaryShareClass2 2023-01-01 2023-12-31 02988749 c:OrdinaryShareClass2 2023-12-31 02988749 c:OrdinaryShareClass3 2023-01-01 2023-12-31 02988749 c:OrdinaryShareClass3 2022-12-31 02988749 c:OrdinaryShareClass4 2023-01-01 2023-12-31 02988749 c:OrdinaryShareClass4 2022-12-31 02988749 c:OrdinaryShareClass5 2023-01-01 2023-12-31 02988749 c:OrdinaryShareClass5 2022-12-31 02988749 c:FRS102 2023-01-01 2023-12-31 02988749 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02988749 c:FullAccounts 2023-01-01 2023-12-31 02988749 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02988749 d:WithinOneYear 2023-12-31 02988749 d:WithinOneYear 2022-12-31 02988749 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02988749










The Executive Coaching Consultancy Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2023

 
The Executive Coaching Consultancy Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of The Executive Coaching Consultancy Limited for the Year Ended 31 December 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 The Executive Coaching Consultancy Limited for the year ended 31 December 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 Board of Directors of The Executive Coaching Consultancy Limited, as a body, in accordance with the terms of our engagement letter dated 28 February 2023Our work has been undertaken solely to prepare for your approval the financial statements of The Executive Coaching Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of The Executive Coaching Consultancy Limited, as a body, 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 The Executive Coaching Consultancy Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that The Executive Coaching Consultancy 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 The Executive Coaching Consultancy Limited. You consider that The Executive Coaching Consultancy 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 The Executive Coaching Consultancy 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.

  



Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
23 August 2024
Page 1

 
The Executive Coaching Consultancy Limited
Registered number: 02988749

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
14,771
21,630

  
14,771
21,630

Current assets
  

Debtors: amounts falling due within one year
 6 
629,834
729,848

Cash at bank and in hand
  
1,177,612
971,620

  
1,807,446
1,701,468

Creditors: amounts falling due within one year
 7 
(961,960)
(933,451)

Net current assets
  
 
 
845,486
 
 
768,017

Total assets less current liabilities
  
860,257
789,647

  

Net assets
  
860,257
789,647


Capital and reserves
  

Called up share capital 
 8 
4,778
4,778

Share premium account
  
32,602
32,602

Capital redemption reserve
  
700
700

Profit and loss account
  
822,177
751,567

  
860,257
789,647


Page 2

 
The Executive Coaching Consultancy Limited
Registered number: 02988749

Balance Sheet (continued)
As at 31 December 2023

The directors consider 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 directors acknowledge their 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 by: 




R M Steddy
Director

Date: 23 August 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

The Company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The principal place of business is:
Peek House
20 Eastcheap 
London
EC3M 1EB

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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

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.

Page 5

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Taxation

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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Portal
-
3
years
Goodwill
-
8
years

 
2.8

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 6

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
20%
straight line
Fixtures and fittings
-
33%
straight line
Computer equipment
-
33%
straight line

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Financial instruments

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

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual
Page 7

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

 
2.13

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 the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
25
24

Page 8

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

4.


Intangible assets




Portal
Goodwill
Total

£
£
£



Cost


At 1 January 2023
33,025
30,000
63,025



At 31 December 2023

33,025
30,000
63,025



Amortisation


At 1 January 2023
33,025
30,000
63,025



At 31 December 2023

33,025
30,000
63,025



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
-
-
-




5.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
24,653
15,471
61,805
101,929


Additions
-
-
7,075
7,075


Disposals
-
-
(28,582)
(28,582)



At 31 December 2023

24,653
15,471
40,298
80,422



Depreciation


At 1 January 2023
19,724
15,471
45,104
80,299


Charge for the year
4,929
-
9,005
13,934


Disposals
-
-
(28,582)
(28,582)



At 31 December 2023

24,653
15,471
25,527
65,651



Net book value



At 31 December 2023
-
-
14,771
14,771



At 31 December 2022
4,929
-
16,701
21,630

Page 9

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
602,786
685,651

Other debtors
16,598
16,140

Prepayments and accrued income
10,450
28,057

629,834
729,848



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
86,802
159,377

Corporation tax
159,780
140,581

Other taxation and social security
173,030
156,642

Other creditors
56,771
19,749

Accruals and deferred income
485,577
457,102

961,960
933,451



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



39,176 (2022 - 47,590) Ordinary shares of £0.10 each
3,917.60
4,759.00
8,602 (2022 - nil ) Founder Ordinary shares of £0.10 each
860.20
-
Nil (2022 - 100) Ordinary A shares of £0.10 each
-
10.00
Nil (2022 - 44) Ordinary B shares of £0.10 each
-
4.40
Nil (2022 - 11) Ordinary C shares of £0.10 each
-
1.10
Nil (2022 - 11) Ordinary D shares of £0.10 each
-
1.10
Nil (2022 - 11) Ordinary E shares of £0.10 each
-
1.10
Nil (2022 - 11) Ordinary F shares of £0.10 each
-
1.10

4,777.80

4,777.80



9.


Contingent liabilities

Following the sale of the company’s shares to an Employee Ownership Trust (EOT), the Company has agreed to guarantee the liabilities of the EOT under the share purchase agreement. At the year end the maximum balance guaranteed by the Company but not recognised as a liability was £2,087,922.

Page 10

 
The Executive Coaching Consultancy Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Total commitments
141,000
47,000

141,000
47,000


11.


Transactions with directors

During the year the company made the following advances to the directors:


Outstanding amount 2022
Advances
Repayment
Outstanding amount 2023
£
£
£
£

Interest free loan - repayable on demand
1,880
1,910
(2,994)
796
Interest free loan - repayable on demand
204
547
(690)
61
2,084
2,457
(3,684)
857

12.


Controlling party

The overall controlling party is ECC Partnership Limited as Trustee for The ECC Partnership Employee Ownership Trust.


Page 11