Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31true85590 - Other education not elsewhere classified2023-08-01false5838falsefalse 04372425 2023-08-01 2024-07-31 04372425 2024-07-31 04372425 2023-07-31 04372425 2023-08-01 2024-07-31 04372425 2022-08-01 2023-07-31 04372425 2024-07-31 04372425 2023-07-31 04372425 2022-08-01 04372425 c:Director1 2023-08-01 2024-07-31 04372425 d:FurnitureFittings 2023-08-01 2024-07-31 04372425 d:FurnitureFittings 2024-07-31 04372425 d:FurnitureFittings 2023-07-31 04372425 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04372425 d:OfficeEquipment 2023-08-01 2024-07-31 04372425 d:OfficeEquipment 2024-07-31 04372425 d:OfficeEquipment 2023-07-31 04372425 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04372425 d:ComputerEquipment 2023-08-01 2024-07-31 04372425 d:ComputerEquipment 2024-07-31 04372425 d:ComputerEquipment 2023-07-31 04372425 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04372425 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04372425 d:ComputerSoftware 2024-07-31 04372425 d:ComputerSoftware 2023-07-31 04372425 d:CurrentFinancialInstruments 2024-07-31 04372425 d:CurrentFinancialInstruments 2023-07-31 04372425 d:Non-currentFinancialInstruments 2024-07-31 04372425 d:Non-currentFinancialInstruments 2023-07-31 04372425 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04372425 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04372425 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 04372425 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 04372425 d:UKTax 2023-08-01 2024-07-31 04372425 d:UKTax 2022-08-01 2023-07-31 04372425 d:ShareCapital 2023-08-01 2024-07-31 04372425 d:ShareCapital 2024-07-31 04372425 d:ShareCapital 2022-08-01 2023-07-31 04372425 d:ShareCapital 2023-07-31 04372425 d:ShareCapital 2022-08-01 04372425 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 04372425 d:RetainedEarningsAccumulatedLosses 2024-07-31 04372425 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 04372425 d:RetainedEarningsAccumulatedLosses 2023-07-31 04372425 d:RetainedEarningsAccumulatedLosses 2022-08-01 04372425 c:FRS102 2023-08-01 2024-07-31 04372425 c:Audited 2023-08-01 2024-07-31 04372425 c:FullAccounts 2023-08-01 2024-07-31 04372425 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04372425 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04372425 2 2023-08-01 2024-07-31 04372425 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 04372425









RESULTS CONSORTIUM LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
RESULTS CONSORTIUM LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024



Introduction
 
The primary activity of the company is delivering higher educational services to adults. We also have a provision of further education programs. The company is an OFS-approved English Higher Education provider, and further education is delivered through the Education Skills Funding Agency (ESFA) contract (19+ Advanced learner loan). The company's main objective is to provide high-quality educational opportunities to students who are ambitious and impatient to make a mark in their careers. The academic programmes have contributed towards enhancing student skills and employability. Furthermore, learners have progressed to higher education to improve their career opportunities: the innovation and hands-on approach adopted by the company assists in developing student knowledge and skills. The directors are committed to continuous improvement by collecting and reflecting on feedback from our learners, partners, and stakeholders. The company aims to achieve degree awarding power in the UK and conduct education with a clear commitment to quality assurance standards using effective quality systems. As part of this strategy, the company started undergraduate programmes in partnership with reputed universities.

Business review
 
The directors are satisfied with the company's level of performance and are confident that the company's turnover and profit will continue to improve over the foreseeable future. To sustain steady growth, the company committed to continuously develop digital contents that strengthen the organisation's resources. These digital contents are essential for a proactive learning approach that offers better teaching and learning engagement opportunities for students and ultimately contributes towards better outcomes for student retention rate and success rates. In addition, the company has invested in the business simulation software for effective engagement and to enhance the quality of teaching and learning. Furthermore, we have implemented the student management system, to ensure a smooth transition for a better data capture and reporting and we will be continuously investing in that area in order to achieve better data driven decision making which will be more aligned with the goals and objectives of the organisation.
As suggested by the trends of the market, flexibility in education is one of the main deciding factors for students when enrolling for higher education. The technological advancements have made it possible to deliver engaging and immersive learning experiences. The emerging blended learning approaches stipulate institutions to bring in blended experiences that include simulations, role plays, webinars from industry experts, lectures, games, coaching and mentoring. A combination of such experiences will build both the hard and soft skills of the students and prepare them for future jobs. Hence, there is a need to apply a high level of technology with digital resources to ensure such experiences are offered, complementing the whole learning and teaching experience.

As part of the corporate strategy, the following actions are planned: 
 
Achieve academic excellence through regular review of management structures and processes
Achieve the teaching excellence framework, the target of which is the gold standards when the application window opens
Continue to control costs and secure value for money from all activities
Expand the membership to credible academics to improve the governance
Encourage the adoption of flexible, inclusive, and innovative approaches to learning and teaching
Develop digital platforms and scalable solutions to offer micro-credential  programs and short courses to allow more opportunities to reskill the workforce and to support the local businesses
Expansion of the current portfolio into more programmes in higher education
Maintain a continued commitment to widening participation to reach wider communities
Attain a high level of student satisfaction and continuously improve the student experience and student retention
Provide the skills needed to local businesses supporting regional economic growth
Drive integration with local partners to deliver beneficial employment outcomes
Page 1

 
RESULTS CONSORTIUM LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024

Approval for level 7 master programmes
Validation of degree level programmes with the university partners


Public Benefit

The college is a profit-making entity, despite that value of social responsibility has not been lost to it. The benefits the institution provides are listed below:
Access to individuals from disadvantaged backgrounds by supporting them and helping them achieve qualifications and skills that are valuable for their career progression and advancement.
Making learning accessible to a wider community through digitisation and use of high-end technology.
Supporting the local economic growth through employer engagement.
Provision of high-quality education delivery and promote learner engagement through effective learning practices. 

Principal risks and uncertainties
 
The government ultimately funds most of the income generated by the company. The company access these funds via own direct contracts and sub-contracting opportunities.

The primary risk facing the company is changes to the UK Government policy initiative or the policy initiatives they pursue. Ultimately, funding in this sector is dependent on Government priorities and allocated annually. With post-Brexit changes, social mobility issues, and skills shortages, it is imperative that the government continue to invest in further and higher education.
 

Financial key performance indicators
 
Company's turnover has increased from £2.67 million in 2023 to £4.93 million in the current year. Also, operating profits increased from £432k in 2023 to £891k in the current year.

Other key performance indicators
 
Continued approval as an OFS- Higher Education Provider
Maintained OFSTED Grade 2 status
Maintained Matrix Accreditation 
Direct Claim Status with awarding organisations
Achieved positive outcome of awarding body annual program review monitoring report
Implemented student information system to enhance student experience and strengthen the management control
Achieved the Advance HE Membership

New projects

Expansion of more degree-level programmes
Validation of degree-level programmes with the university partners
To seek approval to deliver level 7 Masters programmes
Expansion into other HND programmes
Expansion into Higher Technical Qualifications (HTQ) programmes
Development, revision, and digitisation of more teaching and learning content and utilisation of higher-level technology

Page 2

 
RESULTS CONSORTIUM LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024


This report was approved by the board on 14 December 2024 and signed on its behalf.



Sreejith Somanathan
Director

Page 3

 
RESULTS CONSORTIUM LIMITED
REGISTERED NUMBER: 04372425

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
103,500
103,500

Tangible assets
 9 
48,664
20,628

  
152,164
124,128

Current assets
  

Debtors: amounts falling due within one year
 10 
1,194,533
300,458

Cash at bank and in hand
 11 
1,778,361
683,422

  
2,972,894
983,880

Creditors: amounts falling due within one year
 12 
(2,060,189)
(611,384)

Net current assets
  
 
 
912,705
 
 
372,496

Total assets less current liabilities
  
1,064,869
496,624

Creditors: amounts falling due after more than one year
 13 
(11,630)
(21,841)

  

Net assets
  
1,053,239
474,783


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,052,239
473,783

  
1,053,239
474,783


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 on 14 December 2024.


Sreejith Somanathan
Director

The notes on pages 7 to 16 form part of these financial statements.
Page 4

 
RESULTS CONSORTIUM LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
1,000
126,882
127,882


Comprehensive income for the year

Profit for the year

-
346,901
346,901


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
346,901
346,901


Total transactions with owners
-
-
-



At 1 August 2023
1,000
473,783
474,783


Comprehensive income for the year

Profit for the year

-
678,456
678,456


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
678,456
678,456


Contributions by and distributions to owners

Dividends: Equity capital
-
(100,000)
(100,000)


Total transactions with owners
-
(100,000)
(100,000)


At 31 July 2024
1,000
1,052,239
1,053,239


The notes on pages 7 to 16 form part of these financial statements.

Page 5

 
RESULTS CONSORTIUM LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
899,056
431,438

Adjustments for:

Depreciation of tangible assets
30,218
6,877

Interest paid
680
2,215

Interest received
(8,634)
(1,263)

(Increase) in debtors
(894,075)
(116,030)

Increase in creditors
1,325,483
380,517

Corporation tax (paid)/received
(97,521)
-

Net cash generated from operating activities

1,255,207
703,754


Cash flows from investing activities

Purchase of intangible fixed assets
-
(103,500)

Purchase of tangible fixed assets
(58,254)
(27,505)

Interest received
8,634
1,263

Net cash from investing activities

(49,620)
(129,742)

Cash flows from financing activities

Repayment of loans
(9,968)
(9,726)

Dividends paid
(100,000)
-

Interest paid
(680)
(2,215)

Net cash used in financing activities
(110,648)
(11,941)

Net increase in cash and cash equivalents
1,094,939
562,071

Cash and cash equivalents at beginning of year
683,422
121,351

Cash and cash equivalents at the end of year
1,778,361
683,422


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,778,361
683,422

1,778,361
683,422


The notes on pages 7 to 16 form part of these financial statements.

Page 6

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Results Consortium Limited is a company limited by shares and incorporated in England. The company's registered number and registered office address can be found on the Company Information page. The principle activity of the company during the year was the delivery of government funded (19+ Advanced learner loan provision) training programs for adult learners.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has maintained a reasonable liquidity ratio to deal with the amount that will fall due within one year. After making necessary enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Going concern is therefore considered appropriate.

 
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.

All incoming resources are recognised when the company has entitlement to the funds, the receipt is probable and the amount can be measured reliably.

Page 7

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 reporting date in the countries where the Company operates and generates income.


Page 8

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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. Development cost of Computer software is amortised over 5 years on straight line basis. 

 
2.11

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:

Fixtures and fittings
-
33%
Straight line basis
Office equipment
-
25%
Straight line basis
Computer equipment
-
50%
Straight line basis

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.

 
2.12

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.

Page 9

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.13

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.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.14

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.

 
2.15

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.
 

Page 10

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Employees

2024
2023
£
£

Wages and salaries
1,784,044
1,041,290

Cost of defined contribution scheme
29,042
18,805

1,813,086
1,060,095


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Admin and teaching staff
58
38


Page 11

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Senior staff pay

During the year ended 31 July 2024, there were no staff members that had a full-time equivalent basic salary of over £100,000 per annum (2023: £nil).
Total remuneration paid to the Principal, head of the provider, were as follows:

2024
2023
£
£
Salary

67,500

67,500

Bonus

10,000

20,000

Pension contributions

1,321

1,321

78,821

88,821


The principal, head of the provider, was paid the above emoluments between August 2023 and July 2024.
The head of the provider’s basic salary is 2.26 times the median pay of staff, where the median pay is calculated on a full-time equivalent basis for the salaries paid by the provider to its staff.
The head of the provider’s total remuneration is 2.59 times the median total remuneration of staff, where the median total remuneration is calculated on a full-time equivalent basis for the total remuneration by the provider of its staff.
The principal has a permanent full-time contract with the provider. The remuneration package was appropriately designed based on his experience and expertise. This is to inspire and motivate the principle to devote to his duties the time needed to fulfil his contractual obligations for the upliftment of the organisation.
Severance payments:
No payments were made during the year (2023: £nil) in respect of compensation for loss of office.


6.


Details of fee income

2024
2023
£
£



Fee income for taught awards
4,843,379
1,969,851

Fee income from non-qualifying courses
94,910
696,310

4,938,289
2,666,161


Page 12

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
220,600
84,537


220,600
84,537


Total current tax
220,600
84,537

Deferred tax

Total deferred tax
-
-


Tax on profit
220,600
84,537

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  25% (2023 - 19% up to 31 March 2023 and @25% thereafter).



8.


Intangible assets




Computer software

£



Cost


At 1 August 2023
103,500



At 31 July 2024

103,500






Net book value



At 31 July 2024
103,500



At 31 July 2023
103,500

Page 13

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
 
           8.Intangible assets (continued)

Computer Software addition represents the total costs incurred for the development of the software and an App. There were capital commitments amounting to £144,500 at year end towards this project.  Computer software has not been amortised because the project has not yet been completed at the year end.




9.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
19,552
22,608
-
42,160


Additions
40,720
-
17,534
58,254



At 31 July 2024

60,272
22,608
17,534
100,414



Depreciation


At 1 August 2023
8,895
12,637
-
21,532


Charge for the year on owned assets
18,127
3,324
8,767
30,218



At 31 July 2024

27,022
15,961
8,767
51,750



Net book value



At 31 July 2024
33,250
6,647
8,767
48,664


10.


Debtors

2024
2023
£
£


Trade debtors
1,061,920
278,140

Other debtors
42,398
5,998

Prepayments and accrued income
90,215
16,320

1,194,533
300,458


Page 14

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,778,361
683,422

1,778,361
683,422



12.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,969
9,726

Trade creditors
179,986
263,840

Corporation tax
220,600
97,521

Other taxation and social security
88,269
94,139

Other creditors
86,809
93,665

Accruals and deferred income
1,474,556
52,493

2,060,189
611,384


2024
2023
£
£

Other taxation and social security

PAYE/NI control
41,802
57,004

VAT control
46,467
37,135

88,269
94,139



13.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,630
21,841

11,630
21,841


Bank Loan represents Bounce Back Loan as per UK Government Scheme. Interest @2.5% is charged on this loan.This is unsecured loan which is repayable by monthly installment over 5 years.

Page 15

 
RESULTS CONSORTIUM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,042 (2023: £18,805). Contributions totaling £11,381 (2023: £5,180) were payable to the fund at the reporting date.


15.


Related party transactions

During the year, the Company declared dividends of £100,000 (2023: £nil) to the directors. Of this, £75,000 was paid during the year and £25,000 was payable at year end. 
During the year, the Company repaid £32,000 to one of its directors. At balance sheet date total amount owed to the directors was £5,000 (2023:£37,000). Amounts owed to the directors  are unsecured interest free advances which are repayable on demand. 
During the year, a company under common control provided various services totaling  £228,319 (2023: £60,393) to the company.  Amount owed by the Company at year end was £84,011 (2023: £2,942). 


16.


Controlling party

The Company is controlled by the directors.


17.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 14 December 2024 by Janak Raj Pokhrel (Senior statutory auditor) on behalf of Mantax Lynton.

 
Page 16