ITEC LEARNING TECHNOLOGIES LIMITED

Company limited by guarantee

Company Registration Number:
05191592 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

ITEC LEARNING TECHNOLOGIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

ITEC LEARNING TECHNOLOGIES LIMITED

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

The principal activity of the year was providing support services to the parent organisation USP College.

Additional information

Review of business and future developments. A summary of the results for the year are shown on page 8 of the financial statements. The company provides building cleaning services to the parent company USP College. The directors have received assurances from the parent company, USP College, that it will provide all necessary financial and operational support to allow the company to continue to trade. Plans are under review to deliver additional commercial activity through ITEC from 2025 relating to digital activities.



Directors

The directors shown below have held office during the whole of the period from
1 August 2023 to 31 July 2024

PJJ Lenon
SK Hendy
D Pearson


Secretary S Glover

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
3 December 2024

And signed on behalf of the board by:
Name: PJJ Lenon
Status: Director

ITEC LEARNING TECHNOLOGIES LIMITED

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 465,909 469,865
Cost of sales: ( 445,697 ) ( 411,696 )
Gross profit(or loss): 20,212 58,169
Distribution costs: 0 0
Administrative expenses: ( 6,520 ) ( 74,338 )
Operating profit(or loss): 13,692 (16,169)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 13,692 (16,169)
Tax: 0 0
Profit(or loss) for the financial year: 13,692 (16,169)

ITEC LEARNING TECHNOLOGIES LIMITED

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors: 3 3,274 43,149
Cash at bank and in hand: 12,934 1,999
Investments:   0 0
Total current assets: 16,208 45,148
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 151,568 ) ( 194,200 )
Net current assets (liabilities): (135,360) (149,052)
Total assets less current liabilities: (135,360) ( 149,052)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (135,360) (149,052)
Members' funds
Profit and loss account: (135,360) ( 149,052)
Total members' funds: ( 135,360) (149,052)

The notes form part of these financial statements

ITEC LEARNING TECHNOLOGIES LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 3 December 2024
and signed on behalf of the board by:

Name: PJJ Lenon
Status: Director

The notes form part of these financial statements

ITEC LEARNING TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents amounts receivable for goods and services provided and 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. It is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives as follows: Plant and equipment – over two years on a straight-line basis At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

    Other accounting policies

    Expenditure Expenditure is recognised as soon as there is a legal or constructive obligation committing the company to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and excludes recoverable VAT. Expenditure comprises the direct costs associated with the delivery of the company’s services and administrative costs. Debtors Debtors are recognised at their settlement amount, less any provision for non-recoverability. Cash at bank and in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have an original maturity of less than three months. Creditors and provisions Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Financial instruments The company only holds basic financial instruments as defined in FRS102. The financial assets and financial labilities of the company and their measurement basis is as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank – is classified as a basic financial instrument and is measured at face value. Financial liabilities – trade creditors, accruals and other creditors are financial instruments and are measured at amortised cost. Taxation and social security are not included in the financial instrument disclosure definition. Deferred income is not deemed to be a financial liability, as cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. Pension Employees are members of the Nest Pension, a workplace pension scheme set up by the government. Nest is a defined contribution scheme. Employer contributions to defined contribution schemes are charged to the statement of income in the period they become payable to the scheme.

ITEC LEARNING TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 29 26

ITEC LEARNING TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Debtors

2024 2023
£ £
Trade debtors 100 41,960
Prepayments and accrued income 3,174 1,189
Other debtors 0 0
Total 3,274 43,149
Debtors due after more than one year: 0 0

ITEC LEARNING TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 6,332 1,100
Taxation and social security 12,854 6,553
Accruals and deferred income 4,014 4,754
Other creditors 128,368 181,793
Total 151,568 194,200