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REGISTERED NUMBER: 09909630 (England and Wales)















REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CALLAN METHOD GROUP LIMITED

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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










Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


CALLAN METHOD GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R J Case
B E Case
C Dukes
H S Winetroube





SECRETARY: H S Winetroube





REGISTERED OFFICE: Unit 705, The Chandlery
50 Westminster Bridge Road
Waterloo
London
SE1 7QY





REGISTERED NUMBER: 09909630 (England and Wales)





ACCOUNTANTS: MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


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

REVIEW OF BUSINESS
During 2023 the group continued to recover from the impact of the COVID pandemic, as its customer base of independent language schools continued to re-open and grow their physical premises while retaining some online students. The vast majority of pre-COVID customers have now re-opened.

The directors attribute the group's business resilience to the diversity of its customer base in terms of geography and offline/online split, together with the flexibility of the group's cost base.

The group undertook significant investment in its core product during 2023; the 12-Stage General English course was rewritten to update vocabulary and usage, and to align the structure more closely with the language competency framework which underpins most international examination standards. Several additional features and service offerings have also been introduced to support the course. This new edition project was the focus of a considerable amount of the group's resources including the product development, IT and customer relations teams.

Despite this investment, Callan Method Organisation's turnover increased year on year and the group achieved both a positive operating profit and positive cash generation. The group has redeemed a further £110,000 of preference shares in the year thereby continuing to strengthen the Balance Sheet of the group. The core product has been strengthened and is now completely up-to-date.

The prioritisation of IT and other resources into the new edition project, meant that Callan Online's growth ambitions had to be postponed. However, the cost base remains flexible, and margins have been maintained.

DIRECTORS
The directors during the year under review were:

R J Case
B E Case
C Dukes
H S Winetroube

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





H S Winetroube - Director


4 September 2024

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 1,486,810 1,441,914

Cost of sales (694,861 ) (640,145 )
GROSS PROFIT 791,949 801,769

Administrative expenses (721,115 ) (769,205 )
OPERATING PROFIT 4 70,834 32,564

Interest receivable and similar income 2,262 771
73,096 33,335
Amounts written off investments - 11,473
73,096 44,808

Interest payable and similar expenses 5 (740 ) (989 )
PROFIT BEFORE TAXATION 72,356 43,819

Tax on profit 6 (6,984 ) (6,697 )
PROFIT FOR THE FINANCIAL YEAR 65,372 37,122

Profit attributable to:
Owners of the parent 65,372 37,122

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 8 447,591 477,430
Tangible assets 9 7,995 7,574
Investments 10 - -
455,586 485,004

CURRENT ASSETS
Stocks 154,647 139,818
Debtors 11 110,548 149,510
Cash at bank and in hand 105,339 156,745
370,534 446,073
CREDITORS
Amounts falling due within one year 12 (182,736 ) (212,317 )
NET CURRENT ASSETS 187,798 233,756
TOTAL ASSETS LESS CURRENT LIABILITIES 643,384 718,760

CREDITORS
Amounts falling due after more than one
year

13

(14,167

)

(24,167

)
NET ASSETS 629,217 694,593

CAPITAL AND RESERVES
Called up share capital 15 345,000 455,000
Retained earnings 16 284,217 239,593
SHAREHOLDERS' FUNDS 629,217 694,593

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

CONSOLIDATED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





H S Winetroube - Director


CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

COMPANY BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 - -
Investments 10 420,417 420,417
420,417 420,417

CURRENT ASSETS
Debtors 11 20,000 57,977
Cash at bank 190 100,572
20,190 158,549
CREDITORS
Amounts falling due within one year 12 (88,475 ) (117,296 )
NET CURRENT (LIABILITIES)/ASSETS (68,285 ) 41,253
TOTAL ASSETS LESS CURRENT LIABILITIES 352,132 461,670

CAPITAL AND RESERVES
Called up share capital 15 345,000 455,000
Retained earnings 16 7,132 6,670
SHAREHOLDERS' FUNDS 352,132 461,670

Company's profit for the financial year 21,210 35,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

COMPANY BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





H S Winetroube - Director


CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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


1. STATUTORY INFORMATION

Callan Method 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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


2. ACCOUNTING POLICIES - continued

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.

Investments
Financial assets, other than investments, are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.

Financial liabilities and equity
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual
obligations, rather than the financial instrument's legal form. Financial liabilities are initially measured at
transaction price (including transaction costs) and subsequently held at amortised cost.

Parent company disclosure exemptions
In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available in FRS 102:

No cash flow statement has been presented for the parent company; and

The following principal accounting policies have been applied:

Basis of consolidation
The consolidated financial statements present the result of Callan Method Group Limited and its subsidiaries as if they formed a single entity. Intercompany transactions and balances bet ween group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase
method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially
recognised at their fair value at the acquisition date. The results of acquired operations are included in the
consolidated statement of comprehensive income from the date on which control is obtained.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.23 31.12.22
£    £   
Depreciation - owned assets 1,998 1,894
Goodwill amortisation 29,839 29,839

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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


5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest 740 989

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 12,345 6,697
Over/Under provision (5,361 ) -

Tax on profit 6,984 6,697

7. 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.


8. INTANGIBLE FIXED ASSETS

Group
Patents
and Development
Goodwill licences costs Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 596,785 1 200,526 797,312
AMORTISATION
At 1 January 2023 119,356 - 200,526 319,882
Amortisation for year 29,839 - - 29,839
At 31 December 2023 149,195 - 200,526 349,721
NET BOOK VALUE
At 31 December 2023 447,590 1 - 447,591
At 31 December 2022 477,429 1 - 477,430

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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


9. TANGIBLE FIXED ASSETS

Group
Fixtures
and
fittings
£   
COST
At 1 January 2023 17,436
Additions 2,419
At 31 December 2023 19,855
DEPRECIATION
At 1 January 2023 9,862
Charge for year 1,998
At 31 December 2023 11,860
NET BOOK VALUE
At 31 December 2023 7,995
At 31 December 2022 7,574

10. FIXED ASSET INVESTMENTS

Company
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 420,417
NET BOOK VALUE
At 31 December 2023 420,417
At 31 December 2022 420,417

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

Subsidiaries

Callan Online Limited
Registered office: United Kingdom
Nature of business: Online teaching facility
%
Class of shares: holding
Ordinary 100.00

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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


10. FIXED ASSET INVESTMENTS - continued

Callan Method Organisation Limited
Registered office: United Kingdom
Nature of business: Publishing
%
Class of shares: holding
Ordinary 100.00

Callan Method International Limited
Registered office: United Kingdom
Nature of business: Dormant Company
%
Class of shares: holding
Ordinary 100.00

Callan Works Limited
Registered office: United Kingdom
Nature of business: Dormant Company
%
Class of shares: holding
Ordinary 100.00


11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Trade debtors 62,797 94,122 - -
Amounts owed by group undertakings - - 20,000 57,977
Other debtors 47,751 55,388 - -
110,548 149,510 20,000 57,977

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Bank loans and overdrafts (see note 14) 10,000 10,000 - -
Trade creditors 42,826 55,733 - -
Amounts owed to group undertakings - - 70,781 92,724
Taxation and social security 24,606 20,461 - -
Other creditors 105,304 126,123 17,694 24,572
182,736 212,317 88,475 117,296

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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


13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
31.12.23 31.12.22
£    £   
Bank loans (see note 14) 14,167 24,167

14. LOANS

An analysis of the maturity of loans is given below:

Group
31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 4,167 14,167

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
125,000 Ordinary 1 125,000 125,000
220,000 Preference A shares 1 220,000 330,000
345,000 455,000

16. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 239,593
Profit for the year 65,372
Dividends (20,748 )
At 31 December 2023 284,217

CALLAN METHOD GROUP LIMITED (REGISTERED NUMBER: 09909630)

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


16. RESERVES - continued

Company
Retained
earnings
£   

At 1 January 2023 6,670
Profit for the year 21,210
Dividends (20,748 )
At 31 December 2023 7,132


17. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.