Leadership Trust Training and Development Limited 09643142 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is leadership training and development for individuals, teams and organisations. Digita Accounts Production Advanced 6.30.9574.0 true false true 09643142 2023-01-01 2023-12-31 09643142 2023-12-31 09643142 bus:OrdinaryShareClass1 2023-12-31 09643142 bus:PreferenceShareClass1 bus:Non-cumulativeRedeemableShares 2023-12-31 09643142 core:CurrentFinancialInstruments 2023-12-31 09643142 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09643142 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 09643142 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09643142 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 09643142 core:FurnitureFittingsToolsEquipment 2023-12-31 09643142 core:OtherRelatedParties 2023-12-31 09643142 core:ParentEntities 2023-12-31 09643142 bus:SmallEntities 2023-01-01 2023-12-31 09643142 bus:Audited 2023-01-01 2023-12-31 09643142 bus:FilletedAccounts 2023-01-01 2023-12-31 09643142 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09643142 bus:RegisteredOffice 2023-01-01 2023-12-31 09643142 bus:Director1 2023-01-01 2023-12-31 09643142 bus:Director10 2023-01-01 2023-12-31 09643142 bus:Director11 2023-01-01 2023-12-31 09643142 bus:Director7 2023-01-01 2023-12-31 09643142 bus:Director8 2023-01-01 2023-12-31 09643142 bus:Director9 2023-01-01 2023-12-31 09643142 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09643142 bus:PreferenceShareClass1 bus:Non-cumulativeRedeemableShares 2023-01-01 2023-12-31 09643142 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09643142 core:BrandNames 2023-01-01 2023-12-31 09643142 core:ComputerSoftware 2023-01-01 2023-12-31 09643142 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 09643142 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 09643142 core:ComputerEquipment 2023-01-01 2023-12-31 09643142 core:FurnitureFittings 2023-01-01 2023-12-31 09643142 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09643142 core:OtherRelatedParties 2023-01-01 2023-12-31 09643142 core:ParentEntities 2023-01-01 2023-12-31 09643142 core:ParentEntities core:RenderingOrReceivingServices 2023-01-01 2023-12-31 09643142 1 2023-01-01 2023-12-31 09643142 countries:England 2023-01-01 2023-12-31 09643142 2022-12-31 09643142 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09643142 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 09643142 core:FurnitureFittingsToolsEquipment 2022-12-31 09643142 core:ParentEntities 2022-12-31 09643142 2022-01-01 2022-12-31 09643142 2022-12-31 09643142 bus:OrdinaryShareClass1 2022-12-31 09643142 bus:PreferenceShareClass1 bus:Non-cumulativeRedeemableShares 2022-12-31 09643142 core:CurrentFinancialInstruments 2022-12-31 09643142 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09643142 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 09643142 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09643142 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 09643142 core:FurnitureFittingsToolsEquipment 2022-12-31 09643142 core:ParentEntities 2022-12-31 09643142 core:ParentEntities 2022-01-01 2022-12-31 09643142 core:ParentEntities core:RenderingOrReceivingServices 2022-01-01 2022-12-31 09643142 2021-12-31 09643142 core:ParentEntities 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09643142

Leadership Trust Training and Development Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

Leadership Trust Training and Development Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 14

 

Leadership Trust Training and Development Limited

Company Information

Directors

R N The Lord Westbury

Mr K L Hallatt

Hon R A D Bethell

Mr B I Coleridge Cole

Mr J E Davidge

Ms A H Bromage

Registered office

Upper Granary
Brockhampton Offices
Brockhampton
Hereford
HR1 4SE

Auditors

Young & Co
Chartered Accountants & Registered Auditors
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Leadership Trust Training and Development Limited

(Registration number: 09643142)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

154,894

195,006

Tangible assets

5

6,488

5,038

 

161,382

200,044

Current assets

 

Stocks

6

392

392

Debtors

7

1,534,187

208,259

Cash at bank and in hand

 

17,267

49,065

 

1,551,846

257,716

Creditors: Amounts falling due within one year

8

(2,105,347)

(1,030,899)

Net current liabilities

 

(553,501)

(773,183)

Total assets less current liabilities

 

(392,119)

(573,139)

Creditors: Amounts falling due after more than one year

8

(68,417)

(814,307)

Net liabilities

 

(460,536)

(1,387,446)

Capital and reserves

 

Called up share capital

9

1,500,000

500,000

Retained earnings

(1,960,536)

(1,887,446)

Shareholders' deficit

 

(460,536)

(1,387,446)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Leadership Trust Training and Development Limited

(Registration number: 09643142)
Balance Sheet as at 31 December 2023
(continued)

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

.........................................
Mr B I Coleridge Cole
Director

 

Leadership Trust Training and Development 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.

The address of its registered office is:
Upper Granary
Brockhampton Offices
Brockhampton
Hereford
HR1 4SE

These financial statements were authorised for issue by the Board on 3 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is dependent on the continuing financial support of its parent company. The directors of the parent company, R W Chelsea Holdings Limited (a company registered in Cyprus) have confirmed that, for a period of at least twelve months following the date of approval of these financial statements, they will continue to provide financial support to the company to enable it to meet its liabilities as they fall due. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the going concern basis being no longer appropriate.

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 3 September 2024 was Danny King ACA, who signed for and on behalf of Young & Co.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity; and
- specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. The company has the capacity to surrender losses to fellow group companies which has been utilised this year. No payment has been received from other group companies for the use of their losses.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% of cost per annum

Computer equipment

33% of cost per annum

Intangible assets

Separately acquired brand names, licences and intellectual property are initially recognised at cost.

Brand names, licences and intellectual property acquired in a business combination are recognised at fair value at the acquisition date.

Brand names, licences and intellectual property have a finite useful life and are carried at cost or revalued amount, less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Brand names, licences and intellectual property

5% of cost per annum

Computer software

33% of cost per annum

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2022 - 14).

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

4

Intangible assets

Trademarks, patents and licenses
 £

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 January 2023

150,000

116,143

266,143

Additions acquired separately

-

5,662

5,662

At 31 December 2023

150,000

121,805

271,805

Amortisation

At 1 January 2023

36,667

34,470

71,137

Amortisation charge

6,667

39,107

45,774

At 31 December 2023

43,334

73,577

116,911

Carrying amount

At 31 December 2023

106,666

48,228

154,894

At 31 December 2022

113,333

81,673

195,006

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

95,777

95,777

Additions

4,487

4,487

At 31 December 2023

100,264

100,264

Depreciation

At 1 January 2023

90,739

90,739

Charge for the year

3,037

3,037

At 31 December 2023

93,776

93,776

Carrying amount

At 31 December 2023

6,488

6,488

At 31 December 2022

5,038

5,038

6

Stocks

2023
£

2022
£

Other inventories

392

392

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

43,200

7,800

Amounts owed by related parties

12

1,458,978

37,894

Prepayments

 

32,009

162,565

   

1,534,187

208,259

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

1,418,880

123,692

Trade creditors

 

84,129

355,244

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

26,968

48,526

Taxation and social security

 

141,091

65,131

Accruals and deferred income

 

430,726

431,457

Other creditors

 

3,553

6,849

 

2,105,347

1,030,899

Creditors include bank overdrafts which are secured of £1,380 (2022 - £Nil). Creditors also include a loan of £1,417,500 (2022 - £Nil) that is secured by a debenture over the company's assets, by a charge on property of a fellow group company and by guarantees from other group companies.

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

8

Creditors (continued)

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

68,417

814,307

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

500,000

500,000

500,000

500,000

Preference shares of £1 each

1,000,000

1,000,000

-

-

1,500,000

1,500,000

500,000

500,000

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

10

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

116,667

Bank overdrafts

1,380

7,025

Other borrowings

1,417,500

-

1,418,880

123,692

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £28,000 (2022 - £12,000).

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

12

Related party transactions

Expenditure with and payables to related parties

2023

Parent
£

Rendering of services

30,559

2022

Parent
£

Rendering of services

15,594

Loans to related parties

2023

Other related parties
£

Total
£

Advanced

1,400,000

1,400,000

Repaid

(17,500)

(17,500)

Interest transactions

35,000

35,000

At end of period

1,417,500

1,417,500

Terms of loans to related parties

A loan to a fellow group company was advanced in the year. Interest is being charged, and the loan is unsecured, and has no fixed repayment terms.

 

Leadership Trust Training and Development Limited

Notes to the Financial Statements for the Year Ended 31 December 2023
(continued)

12

Related party transactions (continued)

Loans from related parties

2023

Parent
£

Total
£

At start of period

814,307

814,307

Advanced

293,727

293,727

Repaid

(1,039,617)

(1,039,617)

At end of period

68,417

68,417

2022

Parent
£

Total
£

At start of period

758,713

758,713

Advanced

55,594

55,594

At end of period

814,307

814,307

Terms of loans from related parties

The loan from the parent company is interest free, unsecured, and has no fixed repayment terms. The company has an agreement that the parent company may not demand repayment of amounts owed to it before 31 December 2024.
 

13

Parent and ultimate parent undertaking

The company's immediate parent is R.W. Chelsea Holdings Ltd, incorporated in Cyprus.

 The most senior parent entity producing publicly available financial statements is R.W. Chelsea Holdings Ltd. These financial statements are available upon request from Registrar of Companies - Cyprus, Corner Makarios Avenue and Karpenisiou, "Xenios" Building, 1427 Nicosia, Cyprus.

 

14

Non adjusting events after the financial period

The company has had no events since the balance sheet date which required disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.