Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-3162The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-08-01trueNo description of principal activity79truefalse 02703089 2023-08-01 2024-07-31 02703089 2022-08-01 2023-07-31 02703089 2024-07-31 02703089 2023-07-31 02703089 c:Director1 2023-08-01 2024-07-31 02703089 d:Buildings 2023-08-01 2024-07-31 02703089 d:Buildings 2024-07-31 02703089 d:Buildings 2023-07-31 02703089 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02703089 d:Buildings d:LongLeaseholdAssets 2023-08-01 2024-07-31 02703089 d:Buildings d:ShortLeaseholdAssets 2023-08-01 2024-07-31 02703089 d:Buildings d:ShortLeaseholdAssets 2024-07-31 02703089 d:Buildings d:ShortLeaseholdAssets 2023-07-31 02703089 d:PlantMachinery 2023-08-01 2024-07-31 02703089 d:FurnitureFittings 2023-08-01 2024-07-31 02703089 d:FurnitureFittings 2024-07-31 02703089 d:FurnitureFittings 2023-07-31 02703089 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02703089 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02703089 d:CurrentFinancialInstruments 2024-07-31 02703089 d:CurrentFinancialInstruments 2023-07-31 02703089 d:Non-currentFinancialInstruments 2024-07-31 02703089 d:Non-currentFinancialInstruments 2023-07-31 02703089 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 02703089 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02703089 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 02703089 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 02703089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 02703089 d:ShareCapital 2024-07-31 02703089 d:ShareCapital 2023-07-31 02703089 d:RevaluationReserve 2023-08-01 2024-07-31 02703089 d:RevaluationReserve 2024-07-31 02703089 d:RevaluationReserve 2023-07-31 02703089 d:OtherMiscellaneousReserve 2023-08-01 2024-07-31 02703089 d:OtherMiscellaneousReserve 2024-07-31 02703089 d:OtherMiscellaneousReserve 2023-07-31 02703089 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 02703089 d:RetainedEarningsAccumulatedLosses 2024-07-31 02703089 d:RetainedEarningsAccumulatedLosses 2023-07-31 02703089 c:FRS102 2023-08-01 2024-07-31 02703089 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 02703089 c:FullAccounts 2023-08-01 2024-07-31 02703089 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02703089 2 2023-08-01 2024-07-31 02703089 6 2023-08-01 2024-07-31 02703089 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 02703089 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 02703089 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 02703089










CENTRAL TRAINING ACADEMY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
CENTRAL TRAINING ACADEMY LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CENTRAL TRAINING ACADEMY LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central Training Academy Limited for the year ended 31 July 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Central Training Academy Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Central Training Academy Limited and state those matters that we have agreed to state to the director of Central Training Academy Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central Training Academy Limited and its director for our work or for this report. 

It is your duty to ensure that Central Training Academy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Central Training Academy Limited. You consider that Central Training Academy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Central Training Academy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS
 
Chartered Accountants
  
Kingsridge House
601 London Road
Westcliff on Sea
Essex
SS0 9PE
12 March 2025
Page 1

 
CENTRAL TRAINING ACADEMY LIMITED
REGISTERED NUMBER: 02703089

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
540,801
549,279

Investments
 5 
76
76

  
540,877
549,355

Current assets
  

Debtors: amounts falling due within one year
 6 
1,344,655
1,017,536

Cash at bank and in hand
 7 
329,188
30,006

  
1,673,843
1,047,542

Creditors: amounts falling due within one year
 8 
(761,427)
(185,018)

Net current assets
  
 
 
912,416
 
 
862,524

Total assets less current liabilities
  
1,453,293
1,411,879

Creditors: amounts falling due after more than one year
 9 
(16,523)
(26,630)

Provisions for liabilities
  

Deferred tax
 12 
(6,701)
(6,701)

  
 
 
(6,701)
 
 
(6,701)

Net assets
  
1,430,069
1,378,548


Capital and reserves
  

Called up share capital 
  
200
200

Revaluation reserve
 13 
367,473
363,344

Other reserves
 13 
150,000
150,000

Profit and loss account
 13 
912,396
865,004

  
1,430,069
1,378,548


Page 2

 
CENTRAL TRAINING ACADEMY LIMITED
REGISTERED NUMBER: 02703089

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 12 March 2025.




M.P. Kolton
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Central Training Academy Limited is a limited company incorporated in England and Wales. The Registered Office is 601 London Road, Westcliff on Sea, Essex, SS0 9PE. The registered number is 02073089.

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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 4

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

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.

Page 5

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, under the following basis.

Depreciation is provided on the following basis:

Freehold land
-
no depreciation
Freehold buildings
-
2% straight line basis
Long-term leasehold property
-
2% straight line basis
Short-term leasehold property
-
Straight line over 10 years
Fixtures, fittings and equipment
-
20% straight line basis (or over the term of the finance lease if shorter)

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.

  
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.
Fair values are determined from market based evidence.
Revaluation gains and losses are recognised in the Statement of comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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.

 
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.

Page 6

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 62 (2023 - 79).


4.


Tangible fixed assets





Freehold property
Short-term leasehold property
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
525,000
32,500
253,308
810,808



At 31 July 2024

525,000
32,500
253,308
810,808



Depreciation


At 1 August 2023
-
32,500
229,028
261,528


Charge for the year on owned assets
5,000
-
8,479
13,479


On revalued assets
(5,000)
-
-
(5,000)



At 31 July 2024

-
32,500
237,507
270,007



Net book value



At 31 July 2024
525,000
-
15,801
540,801



At 31 July 2023
525,000
-
24,279
549,279

Page 7

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
The freehold land and buildings were valued by the directors of the company at the balance sheet date based on open market value (excluding potential future selling costs). The directors consider the value of the freehold land to be £275,000.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
£



Cost
266,445

Accumulated depreciation
(108,918)

Net book value
157,527


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
76



At 31 July 2024
76





6.


Debtors

2024
2023
£
£


Trade debtors
1,341,271
1,012,485

Prepayments and accrued income
3,384
5,051

1,344,655
1,017,536



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
329,188
30,006

Less: bank overdrafts
(219,602)
-

109,586
30,006


Page 8

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
219,602
-

Bank loans
10,106
9,851

Trade creditors
468,458
104,534

Corporation tax
19,188
15,824

Other taxation and social security
21,169
27,983

Accruals and deferred income
22,904
26,826

761,427
185,018



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
16,523
26,630

16,523
26,630



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,106
9,851


10,106
9,851

Amounts falling due 1-2 years

Bank loans
10,361
10,106


10,361
10,106

Amounts falling due 2-5 years

Bank loans
6,162
16,523


6,162
16,523


26,629
36,480


Page 9

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£

 
-
 
-

Page 10

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


Deferred taxation




2024


£






At beginning of year
(6,701)



At end of year
(6,701)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(6,701)
(6,701)

(6,701)
(6,701)




13.


Reserves

Revaluation reserve

The revaluation reserve relates to the fair value adjustment of the freehold property.

Other reserves

Other reserves relate to a capital reserve.

Profit and loss account

The profit and loss account comprises the retained profits and losses of the company.


14.


Contingent liabilities

The company has given an unlimited guarantee in respect of the bank borrowings of Central Hairdressing Training Centre Limited (see note 16), but the directors do not consider any liability will arise.
At the balance sheet date, the directors do not consider there to be any other contingent liabilities (2023 nil).


15.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions paid by the company to the fund and amounted to £24,909 (2023: £23,821). 

Page 11

 
CENTRAL TRAINING ACADEMY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

16.


Related party transactions

These financial statements include transactions and balances with related parties as detailed in the following paragraphs.
Companies under common control: Trade debtors £975,122 (2023: £710,329)
A company with a common director that holds 50% of the voting rights, with the remaining director of this company  holding no voting rights but being entitled to a share of dividends and assets on a sale or winding up: Trade creditors £ Nil (2023: £ Nil).
Transactions with directors: Dividends £ Nil (2023: £ Nil).
The Directors have personally guaranteed the bank borrowings of the company up to £250,000.
The company has given an unlimited guarantee in respect of the bank borrowings of a company under common control who similarly have given an unlimited guarantee in respect of the bank borrowings of this company. 


17.


Controlling party

The ultimate controlling party is the director via his own shareholding and that of Central Hairdressing Training Centre Limited.
The group is exempt from producing consolidate accounts as a result of the group being classified as a small group 


Page 12