Company registration number SC222936 (Scotland)
TRIPLE P UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
TRIPLE P UK LIMITED
COMPANY INFORMATION
Director
D McWilliam
Company number
SC222936
Registered office
6 St Colme Street
Edinburgh
EH3 6AD
Accountants
MHA
Chartered Accountants
6 St Colme Street
Edinburgh
EH3 6AD
TRIPLE P UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
TRIPLE P UK LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
69,761
20,178
Tangible assets
4
4,858
6,667
Investments
5
-
0
372,725
74,619
399,570
Current assets
Stocks
2,508
2,802
Debtors
7
657,985
485,814
Cash at bank and in hand
688,461
796,573
1,348,954
1,285,189
Creditors: amounts falling due within one year
8
(1,991,792)
(2,300,673)
Net current liabilities
(642,838)
(1,015,484)
Net liabilities
(568,219)
(615,914)
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
(568,220)
(615,915)
Total equity
(568,219)
(615,914)

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 October 2024
D McWilliam
Director
Company registration number SC222936 (Scotland)
TRIPLE P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Triple P UK Limited is a private company limited by shares incorporated in Scotland. The registered office is 6 St Colme Street, Edinburgh, EH3 6AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption in FRS 102 section 1A from the requirement to produce a cash flow statement on the grounds that it is a small company.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

During the year the company made a profit, however had net current liabilities of £633,188 (2023: £1,015,484.) The company is supported through loans from its parent company, who has confirmed their intention to continue to support the company for 12 months from the date of approval of the financial statements. The director believes that this funding should provide the company with sufficient cash resources to finance its operations. The director therefore considers that the company will continue in existence for the foreseeable future and continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for training courses and materials net of VAT.

1.4
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Online Platforms
5 years straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

TRIPLE P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
3 years straight line
Fixtures, fittings & equipment
3 years straight line
Computer equipment
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The carrying value of of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

1.6
Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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.

Debtors

Debtors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

 

All interest bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable. After initial recognition they are measured at amortised cost.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

TRIPLE P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

 

The company has losses available to set off against future tax labilities and and due to the uncertainty and timing of any liabilities has therefore not provided for deferred tax.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 12 (2023 - 10).

TRIPLE P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Intangible fixed assets
Online Platforms
£
Cost
At 1 July 2023
27,515
Additions
68,858
At 30 June 2024
96,373
Amortisation and impairment
At 1 July 2023
7,337
Amortisation charged for the year
19,275
At 30 June 2024
26,612
Carrying amount
At 30 June 2024
69,761
At 30 June 2023
20,178
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
21,743
Additions
2,340
Disposals
(139)
At 30 June 2024
23,944
Depreciation and impairment
At 1 July 2023
15,076
Depreciation charged in the year
4,149
Eliminated in respect of disposals
(139)
At 30 June 2024
19,086
Carrying amount
At 30 June 2024
4,858
At 30 June 2023
6,667
TRIPLE P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
5
Fixed asset investments
2024
2023
£
£
Investments
-
372,725

The investments are held at historical cost and the value of investments is assessed by the director annually. Write-down of the investments held are based on the performance of the investments.

Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 July 2023 & 30 June 2024
946,454
Impairment
At 1 July 2023
573,729
Impairment losses
372,725
At 30 June 2024
946,454
Carrying amount
At 30 June 2024
-
At 30 June 2023
372,725
TRIPLE P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
6
Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Triple P Deutschland GmbH
1
Promotion and implementation of parenting programmes
Ordinary
100.00
1
Nordstrasse 22
48149 Munster
Germany
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
532,251
362,566
Amounts owed by group undertakings
1,198
-
0
Other debtors
124,536
123,248
657,985
485,814
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
101,321
110,370
Amounts due to group undertakings
916,932
686,546
Other taxation and social security
90,955
91,961
Other creditors
882,584
1,411,796
1,991,792
2,300,673

The ultimate parent company, Triple P International Pty Limited, and fellow subsidiaries have subordinated the loans outstanding of £907,281 (2023: £686,546) in preference to other creditors.

9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1
1
1
TRIPLE P UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
10
Related party transactions

The director is of the opinion that all related party transactions are conducted under normal market conditions and on an arms length basis, and therefore do not need to be disclosed under FRS102 section 1A appendix C.

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