Company registration number 11379815 (England and Wales)
Training At Work Group Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 May 2024
PAGES FOR FILING WITH REGISTRAR
Training At Work Group Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Training At Work Group Ltd
Statement Of Financial Position
as at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
13,760
20,537
Tangible assets
4
181,226
234,721
194,986
255,258
Current assets
Debtors
523,175
221,282
Cash at bank and in hand
20,626
63,427
543,801
284,709
Creditors: amounts falling due within one year
(704,469)
(474,888)
Net current liabilities
(160,668)
(190,179)
Total assets less current liabilities
34,318
65,079
Creditors: amounts falling due after more than one year
(11,366)
(17,964)
Net assets
22,952
47,115
Capital and reserves
Called up share capital
5
20
20
Profit and loss reserves
22,932
47,095
Total equity
22,952
47,115
Training At Work Group Ltd
Statement Of Financial Position (continued)
as at 31 May 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered 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 24 December 2024 and are signed on its behalf by:
M D Clough
Director
Company Registration No. 11379815
Training At Work Group Ltd
Notes to the financial statements
for the year ended 31 May 2024
- 3 -
1
Accounting policies
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.
Turnover
Turnover is recognised at the fair value for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised upon the provision of services.
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business 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:
Software
33% reducing balance basis
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.
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 equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Training At Work Group Ltd
Notes to the financial statements (continued)
for the year ended 31 May 2024
1
Accounting policies
(continued)
- 4 -
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
30
30
3
Intangible fixed assets
Software
£
Cost
At 1 June 2023 and 31 May 2024
65,700
Amortisation and impairment
At 1 June 2023
45,163
Amortisation charged for the year
6,777
At 31 May 2024
51,940
Carrying amount
At 31 May 2024
13,760
At 31 May 2023
20,537
Training At Work Group Ltd
Notes to the financial statements (continued)
for the year ended 31 May 2024
- 5 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
164,112
15,809
159,983
339,904
Disposals
(16,200)
(16,200)
At 31 May 2024
164,112
15,809
143,783
323,704
Depreciation and impairment
At 1 June 2023
73,527
7,556
24,100
105,183
Depreciation charged in the year
13,588
1,238
32,404
47,230
Eliminated in respect of disposals
(9,935)
(9,935)
At 31 May 2024
87,115
8,794
46,569
142,478
Carrying amount
At 31 May 2024
76,997
7,015
97,214
181,226
At 31 May 2023
90,585
8,253
135,883
234,721
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
10
10
10
10
B Ordinary shares of £1 each
10
10
10
10
20
20
20
20
6
Parent company
The parent company is Multifuture Concepts Limited, a company registered in England & Wales and whose registered office is 1 Horsefair, Wetherby, Leeds, West Yorkshire, LS22 6JG.
7
Company information
Training At Work Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Horsefair, Wetherby, Leeds, LS22 6JG.