Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31No description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-08-01false67truetrue 02633135 2023-08-01 2024-07-31 02633135 2022-08-01 2023-07-31 02633135 2024-07-31 02633135 2023-07-31 02633135 2022-08-01 02633135 c:CompanySecretary1 2023-08-01 2024-07-31 02633135 c:Director1 2023-08-01 2024-07-31 02633135 c:Director2 2023-08-01 2024-07-31 02633135 c:Director3 2023-08-01 2024-07-31 02633135 c:Director3 2024-07-31 02633135 c:Director4 2023-08-01 2024-07-31 02633135 c:Director4 2024-07-31 02633135 c:Director5 2023-08-01 2024-07-31 02633135 c:Director6 2023-08-01 2024-07-31 02633135 c:Director7 2023-08-01 2024-07-31 02633135 c:Director8 2023-08-01 2024-07-31 02633135 c:Director8 2024-07-31 02633135 c:Director9 2023-08-01 2024-07-31 02633135 c:Director9 2024-07-31 02633135 c:RegisteredOffice 2023-08-01 2024-07-31 02633135 d:ComputerEquipment 2023-08-01 2024-07-31 02633135 d:ComputerEquipment 2024-07-31 02633135 d:ComputerEquipment 2023-07-31 02633135 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 02633135 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-31 02633135 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 02633135 d:CurrentFinancialInstruments 2024-07-31 02633135 d:CurrentFinancialInstruments 2023-07-31 02633135 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 02633135 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02633135 d:CapitalRedemptionReserve 2024-07-31 02633135 d:CapitalRedemptionReserve 2023-07-31 02633135 d:RetainedEarningsAccumulatedLosses 2024-07-31 02633135 d:RetainedEarningsAccumulatedLosses 2023-07-31 02633135 c:FRS102 2023-08-01 2024-07-31 02633135 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 02633135 c:FullAccounts 2023-08-01 2024-07-31 02633135 c:CompanyLimitedByGuarantee 2023-08-01 2024-07-31 02633135 2 2023-08-01 2024-07-31 02633135 6 2023-08-01 2024-07-31 02633135 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 02633135 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 02633135 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-08-01 2024-07-31 02633135 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 02633135









THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED
(A company limited by guarantee)







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 
 
COMPANY INFORMATION


Directors
M Hayes 
E M C Barrett 
P S Bayley (resigned 17 October 2024)
C R Lewis (resigned 2 November 2023)
S J Manstone 
R A Scarlett 
S D A Simmonds 
S Eagling Fernandez (appointed 19 February 2024)
P Dolman (appointed 15 March 2024)




Company secretary
S J Manstone



Registered number
02633135



Registered office
16 Laburnum Close

Marlow

England

SL7 3LF




Accountants
Donald Reid Limited

18a/20 King Street

Maidenhead

Berkshire

SL6 1EF





 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11


 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 02633135

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,399
1,799

Investments
 6 
595,222
539,895

  
596,621
541,694

Current assets
  

Debtors: amounts falling due within one year
 7 
7,462
15,740

Cash at bank and in hand
 8 
52,714
28,175

  
60,176
43,915

Creditors: amounts falling due within one year
 9 
(19,645)
(20,539)

Net current assets
  
 
 
40,531
 
 
23,376

Total assets less current liabilities
  
637,152
565,070

Provisions for liabilities
  

Deferred tax
 10 
(21,446)
(11,177)

  
 
 
(21,446)
 
 
(11,177)

Net assets
  
615,706
553,893


Capital and reserves
  

Capital redemption reserve
  
117,888
117,888

Profit and loss account
  
497,818
436,005

  
615,706
553,893


Page 1

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 02633135
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

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 income and retained earnings 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 on 7 November 2024.




E M C Barrett
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Thames Valley Construction Training Association Limited is a private company limited by guarantee. The company was incorporated in the United Kingdom and is registered in England and Wales. The company registration number is 02633135. The registered office address of the company is 16 Laburnum Close, Marlow, England, SL7 3LF.

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

Revenue

Turnover represents the amounts receivable from grants, membership subscriptions and services provided.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

 
2.5

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:

Development expenditure
-
5
years

Page 4

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

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.

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:

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.

 
2.7

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections
Page 5

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Page 6

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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 payments 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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 6 (2023 - 7).

Page 7

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Intangible assets




Development

£



Cost


At 1 August 2023
1,999



At 31 July 2024

1,999



Amortisation


At 1 August 2023
200


Charge for the year on owned assets
400



At 31 July 2024

600



Net book value



At 31 July 2024
1,399



At 31 July 2023
1,799



Page 8

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 August 2023
1,533



At 31 July 2024

1,533



Depreciation


At 1 August 2023
1,533



At 31 July 2024

1,533



Net book value



At 31 July 2024
-



At 31 July 2023
-

Page 9

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 August 2023
539,895


Additions
443,262


Disposals
(466,496)


Revaluations
78,561



At 31 July 2024
595,222





7.


Debtors

2024
2023
£
£


Trade debtors
2,103
11,602

Other debtors
150
1,293

Prepayments and accrued income
5,209
2,845

7,462
15,740



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
52,714
28,175

52,714
28,175


Page 10

 
THAMES VALLEY CONSTRUCTION TRAINING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,284
3,522

Corporation tax
1,909
-

Other taxation and social security
2,712
3,066

Other creditors
1,255
1,670

Accruals and deferred income
12,485
12,281

19,645
20,539



10.


Deferred taxation




2024
2023


£

£






At beginning of year
(11,177)
(10,603)


Charged to profit or loss
(10,269)
(574)



At end of year
(21,446)
(11,177)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Taxation on revaluation gains
(21,446)
(11,177)

(21,446)
(11,177)



11.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £100 towards the assets of the company in the event of liquidation.

 
Page 11