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Registration number: 03672160

IVR Training Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

IVR Training Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

IVR Training Services Limited

Company Information

Directors

Mr JW Sparrow

Mr CJ Hoare

Company secretary

Mr GW Gatward

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Bucks
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Bucks
SL8 5TD

 

IVR Training Services Limited

(Registration number: 03672160)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

74

92

Current assets

 

Debtors

5

30,037

11,745

Cash at bank and in hand

 

123,907

98,561

 

153,944

110,306

Creditors: Amounts falling due within one year

6

(59,226)

(44,175)

Net current assets

 

94,718

66,131

Net assets

 

94,792

66,223

Capital and reserves

 

Called up share capital

2

2

Retained earnings

94,790

66,221

Shareholders' funds

 

94,792

66,223

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
Mr CJ Hoare
Director

 

IVR Training Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Bucks
SL8 5TD
United Kingdom

These financial statements were authorised for issue by the Board on 16 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

IVR Training Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.Trade debtors are recognised initially at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

IVR Training Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

6,234

6,234

At 30 June 2024

6,234

6,234

Depreciation

At 1 July 2023

6,142

6,142

Charge for the year

18

18

At 30 June 2024

6,160

6,160

Carrying amount

At 30 June 2024

74

74

At 30 June 2023

92

92

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

14,509

10,339

Amounts owed by related parties

7

13,229

-

Other debtors

 

2,299

1,406

   

30,037

11,745

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

2,278

62

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

33,008

32,419

Taxation and social security

 

21,240

10,194

Accruals and deferred income

 

1,500

1,500

Other creditors

 

1,200

-

 

59,226

44,175

 

IVR Training Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Related party transactions

Summary of transactions with parent

The ultimate parent company is The Institute of Vehicle Recovery, registration number 01841644, a company registered in England and limited by guarantee. Registered office: Fawley House, 2 Regatta Place, Marlow Road, Bourne End, Buckinghamshire, SL8 5TD.
 The company recharged costs of £23,355 (2023 £32,248) to its holding company during the year. As at 30 June 2024 the balance due to the holding company was £33,008 (2023 £27,987).
The company was charged management charges totalling £4,000 (2023 £Nil) during the year.

 

Summary of transactions with associates

The company recharged costs of £96,112 (2023 £65,949) to an associate company IVR (UK) Ltd. IVR (UK) Ltd also invoiced the company £4,689 (2023 £3,521) during the year. As at 30 June 2024 the balance due to IVR (UK) Ltd was £13,229 (2023 £4,432).