REGISTERED NUMBER: |
P.T.P. TRAINING LIMITED |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 31 JULY 2024 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Chartered Accountants |
& Registered Auditors |
Wallace House |
20 Birmingham Road |
Walsall |
West Midlands |
WS1 2LT |
BANKERS: |
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 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Leasehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 July 2024 |
AMORTISATION |
At 1 April 2023 |
and 31 July 2024 |
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 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 March 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: England |
Nature of business: |
% |
Class of shares: | holding |
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 |
Amounts owed by group undertakings |
Other debtors |
Tax |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax payable |
Social security and other taxes |
VAT | 826 | 10,541 |
Other creditors |
Accruals and deferred income |
Deferred government grants |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 2-5 years |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
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 |
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: | £ | £ |
Ordinary | 1 | 30 | 300,000 |
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. |
for and on behalf of |
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. |