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Company No: 03564008 (England and Wales)

SSG TRAINING & CONSULTANCY LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

SSG TRAINING & CONSULTANCY LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

SSG TRAINING & CONSULTANCY LTD

BALANCE SHEET

As at 30 June 2024
SSG TRAINING & CONSULTANCY LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 31,445 0
Tangible assets 4 409,765 400,681
441,210 400,681
Current assets
Stocks 15,000 25,000
Debtors 5 955,077 990,997
Cash at bank and in hand 794,749 652,139
1,764,826 1,668,136
Creditors: amounts falling due within one year 6 ( 1,027,733) ( 974,412)
Net current assets 737,093 693,724
Total assets less current liabilities 1,178,303 1,094,405
Creditors: amounts falling due after more than one year 7 0 ( 32,830)
Provision for liabilities 8 ( 41,406) ( 57,930)
Net assets 1,136,897 1,003,645
Capital and reserves
Called-up share capital 9 60 60
Share premium account 26,980 26,980
Capital redemption reserve 40 40
Profit and loss account 1,109,817 976,565
Total shareholder's funds 1,136,897 1,003,645

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of SSG Training & Consultancy Ltd (registered number: 03564008) were approved and authorised for issue by the Board of Directors on 24 March 2025. They were signed on its behalf by:

Mr M S Salmon
Director
SSG TRAINING & CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
SSG TRAINING & CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SSG Training & Consultancy Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is Valley House, Valley Road, Plympton, Plymouth, Devon, PL7 1RF.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax. The company recognises revenue based on its value of the service provided to date.

Employee benefits

Defined contribution schemes
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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Development costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 5 years straight line
Vehicles 5 - 6 years straight line
Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 59 50

3. Intangible assets

Goodwill Development costs Total
£ £ £
Cost
At 01 July 2023 71,057 0 71,057
Additions 0 39,309 39,309
At 30 June 2024 71,057 39,309 110,366
Accumulated amortisation
At 01 July 2023 71,057 0 71,057
Charge for the financial year 0 7,864 7,864
At 30 June 2024 71,057 7,864 78,921
Net book value
At 30 June 2024 0 31,445 31,445
At 30 June 2023 0 0 0

Development costs have been capitalised in accordance with the requirements of FRS 102 and are therefore not treated, for dividend purposes, as a realised loss.

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 July 2023 130,896 241,668 282,931 166,706 213,641 1,035,842
Additions 0 141,284 61,189 1,972 12,071 216,516
Disposals 0 0 ( 57,090) 0 0 ( 57,090)
At 30 June 2024 130,896 382,952 287,030 168,678 225,712 1,195,268
Accumulated depreciation
At 01 July 2023 54,653 127,787 113,492 149,073 190,156 635,161
Charge for the financial year 20,319 67,101 48,639 11,701 21,604 169,364
Disposals 0 0 ( 19,022) 0 0 ( 19,022)
At 30 June 2024 74,972 194,888 143,109 160,774 211,760 785,503
Net book value
At 30 June 2024 55,924 188,064 143,921 7,904 13,952 409,765
At 30 June 2023 76,243 113,881 169,439 17,633 23,485 400,681

5. Debtors

2024 2023
£ £
Trade debtors 591,968 693,910
Prepayments 18,786 12,087
Other debtors 344,323 285,000
955,077 990,997

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 94,713 74,857
Accruals and deferred income 658,306 604,695
Corporation tax 72,748 49,311
Other taxation and social security 187,282 230,568
Obligations under finance leases and hire purchase contracts 0 3,292
Other creditors 14,684 11,689
1,027,733 974,412

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 32,830

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 57,930) ( 46,570)
Credited/(charged) to the Statement of Income and Retained Earnings 16,524 ( 11,360)
At the end of financial year ( 41,406) ( 57,930)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
60 Ordinary shares of £ 1.00 each 60 60