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REGISTERED NUMBER: 04714327 (England and Wales)












P.T.P. TRAINING LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024






P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P.T.P. TRAINING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024







DIRECTORS: R Colbourne
C Stokes



SECRETARY: L Holyhead



REGISTERED OFFICE: Intown
Lichfield Street
Walsall
West Midlands
WS1 1SQ



REGISTERED NUMBER: 04714327 (England and Wales)



INDEPENDENT AUDITORS: Wallace Crooke
Chartered Accountants
& Registered Auditors
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT



BANKERS: HSBC Bank plc
The Bridge
Walsall
West Midlands
WS1 1LN

P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 643,679 620,425
Investments 6 - 25,002
643,679 645,427

CURRENT ASSETS
Debtors 7 503,722 568,030
Cash at bank and in hand 934,107 788,636
1,437,829 1,356,666
CREDITORS
Amounts falling due within one year 8 1,040,289 427,875
NET CURRENT ASSETS 397,540 928,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,041,219

1,574,218

CREDITORS
Amounts falling due after more than one
year

9

-

(17,858

)

PROVISIONS FOR LIABILITIES (86,177 ) (76,000 )
NET ASSETS 955,042 1,480,360

CAPITAL AND RESERVES
Called up share capital 12 130 300,000
Capital redemption reserve 700,000 400,000
Retained earnings 254,912 780,360
SHAREHOLDERS' FUNDS 955,042 1,480,360

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





R Colbourne - Director


P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024

1. STATUTORY INFORMATION

P.T.P. Training Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the net invoiced sale of educational courses provided under contracts excluding Value Added Tax where the company obtains the right to consideration.

Goodwill
Acquired goodwill is written off in full in the year of acquisition.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Leasehold property - 33% on cost
Fixtures and fittings - 33% on straight line
Computer equipment - 20%, 25% and 33% on cost

No depreciation is provided on freehold land.

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

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. control is the power to govern the financial and operating policies of the entity so as to obtain benefits from activities.


P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Reporting period
The financial statements have been prepared for a sixteen month period from 1 April 2023 to 31 July 2024 in order to align with the trading period. The comparative amounts in the financial statements (including the related notes) are therefore not entirely comparable.

P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 74 (2023 - 74 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 July 2024 20,000
AMORTISATION
At 1 April 2023
and 31 July 2024 20,000
NET BOOK VALUE
At 31 July 2024 -
At 31 March 2023 -

P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 909,889 683,118 1,593,007
Additions - 57,529 57,529
At 31 July 2024 909,889 740,647 1,650,536
DEPRECIATION
At 1 April 2023 301,359 671,223 972,582
Charge for period 21,421 12,854 34,275
At 31 July 2024 322,780 684,077 1,006,857
NET BOOK VALUE
At 31 July 2024 587,109 56,570 643,679
At 31 March 2023 608,530 11,895 620,425

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 25,002
Disposals (25,002 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 March 2023 25,002

The company's investments at the Balance Sheet date in the share capital of companies include the following:

J & N Properties Services Limited
Registered office: England
Nature of business: Letting of an Investment property
%
Class of shares: holding
Ordinary 100.00

At 31 March 2023 the company held 100% of the issued share capital of J & N Properties Services Limited.

The investment in J & N Properties Services Limited was sold in July 2023.

P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,184 137,636
Amounts owed by group undertakings - 393,542
Other debtors 347,113 4,839
Tax 2,409 2,409
Prepayments 46,016 29,604
503,722 568,030

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,693 21,430
Trade creditors 340,207 169,928
Corporation tax payable 74,227 46,033
Social security and other taxes 33,773 28,627
VAT 826 10,541
Other creditors 139,254 39,011
Accruals and deferred income 72,734 64,776
Deferred government grants 366,575 47,529
1,040,289 427,875

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 17,858

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 57,958 36,309
Between one and five years 29,305 -
87,263 36,309

P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 12,693 -

HSBC Bank holds a first legal charge dated 5th February 2010 over the company's freehold property located at Intown, Lichfield Street, Walsall, West Midlands, WS1 1SQ and a composite multilateral guarantee dated 27 November 2007 given by P.T.P. Training Limited.

HSBC Bank also holds a debenture including a fixed charge over all freehold and leasehold property, book and other debts, chattels, goodwill and uncancelled capital, both present and future, and a first floating charge over all assets both present and future dated 2 September 2003.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30 Ordinary 1 30 300,000
100 A Redeemable 1 100 -
130 300,000

The following shares were allotted and fully paid for cash at par during the period:

30 Ordinary shares of 1 each
100 A Redeemable shares of 1 each

300,000 of the company's shares were purchased and cancelled.

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Jones FCA (Senior Statutory Auditor)
for and on behalf of Wallace Crooke

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the period end £Nil loan balance was due from the directors (31 March 2023 : £3,337).

P.T.P. TRAINING LIMITED (REGISTERED NUMBER: 04714327)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024

15. RELATED PARTY DISCLOSURES

Balances with related parties



Amounts owed to
related parties
2024 2023
£    £   

Amounts due to related parties
Other related parties - 5,000




16. CHANGE OF OWNERSHIP

After a successful Ofsted Inspection for P.T.P. Training Limited in February 2023, in June 2023 Ofsted, the statutory body responsible for the inspection of services providing education and skills for learners of all ages, undertook an inspection of the overall effectiveness of the quality of training services provided by BCTG Limited, the parent company of P.T.P. Training Limited at the time.

Following an assessment from Ofsted concerning the quality of training services provided by BCTG Limited, and the withdrawal of certain government funded training programmes which resulted in a significant impact on the company's business model, a number of senior members of the BCTG Limited management team resigned from the company and the decision was taken to break up the BCTG Group.

Consequently, in July 2023, BCTG Limited's shareholding in P.T.P. Training Limited, a wholly owned subsidiary company of BCTG Limited, was sold for a total consideration of £786,728.