REGISTERED NUMBER: |
CT GROUP (UK) TRADING LIMITED |
STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
REGISTERED NUMBER: |
CT GROUP (UK) TRADING LIMITED |
STRATEGIC REPORT, |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 | to | 3 |
Report of the Directors | 4 | to | 5 |
Report of the Independent Auditor | 6 | to | 7 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Notes to the Financial Statements | 12 | to | 22 |
CT GROUP (UK) TRADING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITOR: |
55 Ludgate Hill |
London |
EC4M 7JW |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30TH JUNE 2024 |
The directors present their strategic report for the year ended 30th June 2024. |
CT Group (UK) trading is a global consultancy that uniquely combines research, intelligence, campaigns and advisory services in order to deliver an unmatched level capability in campaign-led market research, strategic communications and programme execution. |
The company delivers powerful, targeted and strategic advice, built on a rigorous approach to research, to senior decision-makers in business, capital markets, government, bureaucracy and the media. |
The company leverages the insight into the fundamentals of effective corporate leadership and the power of values-based communication, acquired from multiple projects over more than 10 years, to ensure that its clients achieve their most important goals. |
The company prides itself on its ability to attract, integrate and support outstanding individual talent and teams. It has an established track record of growth, supported by a dynamic and flexible corporate structure. The outstanding quality of the teams supporting each other provides a firm foundation for future growth. |
The company's success at building relationships at the highest level of national and global organisations and securing the position of trusted and respected counsel in the most demanding situations, continues to set it apart from other advisers in its field. |
REVIEW OF BUSINESS |
In the current financial year, revenue was £34.7m (2023 - £20.8m), an increase of 66.4% on the prior year principally as a result of a restructure of the Group's operations which was completed in 2023. Operating profit was £3.7m (2023 - £2.4m), an increase of 56.0%. The operational structure of the business was changed in January 2023 such that all client delivery was aligned around four practice areas: Research, Intelligence, Campaigns and Advice, operating from a single statutory entity. All business entered into in the UK after this date has been conducted through CT Group (UK) Trading Limited, with all employees of CT Group companies in the UK being transferred at that date. |
The Directors are confident that the Company's business model and strategy continues to equip the Company to deliver future growth. |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30TH JUNE 2024 |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors have considered the company's exposure to the following risks and the policies put in place to mitigate these risks. |
Reputational risk |
The business often operates on high profile assignments and consequently there is a risk to the company's reputation that could result in lost revenues and profits or destruction of shareholder value, as a consequence to adverse publicity triggered by the exposure to media attention from either directors or clients of the group. The company manages this risk through performing anti-money laundering and other checks on its clients and potential clients, before accepting engagements. |
People risk |
The company is dependent upon the ability of its staff to provide expert consultancy and therefore considerable emphasis is placed on the recruitment and retention of staff. In terms of the risk that losing a key director poses to the company, there is a succession plan in place which is regularly reviewed alongside robust training of replacements. |
Credit risk |
This relates to the recovery of amounts owed by trade debtors and to manage this risk the aged debtors reports are reviewed regularly by the directors.The risk is not considered significant at the balance sheet date. |
Foreign exchange risk |
The company endeavours to bill customers in subsidiaries' local currency to minimise exposure to exchange rate movement. |
ON BEHALF OF THE BOARD: |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
The directors present their report with the financial statements of the company for the year ended 30th June 2024. |
DIVIDENDS |
The total distribution of dividends for the year ended 30th June 2024 will be £550,000 (2023:£13,700,000). |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. Under company law the directors must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the company and group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
· select suitable accounting policies and then apply them consistently; |
· make judgements and estimates that are reasonable and prudent; |
· state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company or group will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITOR |
All of the current directors have taken all the steps that they ought to have taken to make themselves aware of any information needed by the company's auditor for the purpose of their audit and to establish that the auditor is aware of that information. The directors are not aware of any relevant audit information of which the auditor is unaware. |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
AUDITOR |
The auditor, Crowe U.K. LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
Opinion |
We have audited the financial statements of CT Group (UK) Trading Limited (the "Company") for the year ended 30 June 2024 which comprise the Income statement, Balance Sheet, Statement of changes in equity and Notes to Financial Statement, including a summary of the significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). |
In our opinion, the financial statements: |
- give a true and fair view of the state of the Company's affairs as at 30 June 2024 and of the its profit for the period for the year then ended. |
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the |
Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. |
We have nothing to report in this regard. |
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion based on the work undertaken in the course of our audit |
- the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- the strategic report and the directors' report has been prepared in accordance with applicable legal requirements. |
Matters on which I am required to report by exception |
In light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. |
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: |
" adequate accounting records have not been kept by the Company, or returns adequate for our audit have not been received from branches not visited by us; or |
" the financial statements are not in agreement with the accounting records and returns; or |
" certain disclosures of directors' remuneration specified by law are not made; or |
" we have not received all the information and explanations we require for our audit; or |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditor's responsibilities for the audit of the financial statements |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. |
Use of my report |
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
55 Ludgate Hill |
London |
EC4M 7JW |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
INCOME STATEMENT |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
TURNOVER | 4 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 6 |
Income from shares in group undertakings |
Interest receivable and similar income |
1,732 | 2,867,931 |
3,730,699 | 5,258,366 |
Interest payable and similar expenses | 7 |
PROFIT BEFORE TAXATION |
Tax on profit | 8 |
PROFIT FOR THE FINANCIAL YEAR |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
Investments | 11 |
CURRENT ASSETS |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
14 |
( |
) |
PROVISIONS FOR LIABILITIES | 18 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 19 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1st July 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30th June 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30th June 2024 |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
CT Group (UK) Trading Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The preparation of the financial statements requires the use of certain critical accounting estimates (see note 3). |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of paragraph 3.17(d); |
• | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); |
• | the requirement of paragraph 33.7. |
Preparation of consolidated financial statements |
The financial statements contain information about CT Group (UK) Trading Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its ultimate parent, CT Group Holdings Ltd, One Strand, Trafalgar Square, London WC2N 5EJ. |
Turnover |
Turnover are either monthly retainers or fixed fee projects which are recognised over the contract life or in line with the delivery of the projects.. Amounts invoiced in advance at the year-end are recognised as deferred income. Fees that are contingent on the occurrence of a future event that is outside the control of the company are recognised on the occurrence of that event. |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Leasehold property | - |
Furniture, fixtures and equipment | - |
Computer equipment | - |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and accumulated impairment losses. Historical cost includes expenditure that is directly attributable in bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying value and are recognised within 'administrative expenses' in the income statement. |
Investments in subsidiaries |
Investments are reviewed for impairment when events indicate the carrying amount may not be recoverable and are accounted for at cost. There exists an associate, Research Interactive Limited, which has not been equity accounted, as the company's share of the result is immaterial. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. |
Debtors are initially measured at transaction price (including transaction costs) and subsequently at cost less any impairment. |
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Taxation |
Taxation for the year 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. |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
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 year 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Operating leases |
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. |
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. |
Holiday pay accrual |
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date. |
3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
In preparing these financial statements, the directors have had to make the following judgements:- |
Revenue |
Revenues are either monthly retainers or fixed fee projects which are recognised over the contract life or in line with the delivery of the projects. Where revenues are invoiced in advance they are recognised as deferred income within creditors. |
Impairment of Trade Debtors |
The recoverable value of trade debtors has been made on the basis of estimations and assumptions regarding their fair value. Likely impairment is calculated with reference to the age of trade debtor and management's understanding of likely recoverability, taking into account the history of the specific client. This provisioning is reviewed by management and compared to the firm's history of recovery to assure they remain materially acceptable. |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
4. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2024 | 2023 |
£ | £ |
United Kingdom |
Europe |
United States of America |
Australasia | 968,312 | - |
Rest of the world | 2,987,160 | 2,839,934 |
5. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Directors | 3 | 2 |
Direct staff | 58 | 42 |
Administration staff | 16 | 7 |
2024 | 2023 |
£ | £ |
Directors' remuneration |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director is as follows: |
2024 | 2023 |
£ | £ |
Emoluments etc |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
6. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Hire of plant and machinery |
Other operating leases |
Depreciation - owned assets |
Loss on disposal of fixed assets |
Auditors' remuneration |
Foreign exchange differences | ( |
) |
7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Interest on overdue tax |
Loan interest |
8. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) |
Tax on profit |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
8. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Total tax charge | 1,003,529 | 540,485 |
9. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary shares of £1 each |
Interim |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
10. | TANGIBLE FIXED ASSETS |
Furniture, |
fixtures |
Leasehold | and | Computer |
property | equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st July 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
11. | FIXED ASSET INVESTMENTS |
Shares in | Interest |
group | in joint |
undertakings | venture | Totals |
£ | £ | £ |
COST |
At 1st July 2023 |
and 30th June 2024 | 2,614 |
NET BOOK VALUE |
At 30th June 2024 | 2,614 |
At 30th June 2023 | 2,614 |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
11. | FIXED ASSET INVESTMENTS - continued |
The subsidiary companies and their subsidiary companies are:- |
Registered Office |
Nature of business |
Class of share |
Shareholding |
CT Local Ltd | England | Consultancy | Ordinary | 75% |
CT Corporate Advisory Ltd | England | Consultancy | Ordinary | 75% |
CT Corporate Advisory Pty Ltd |
Australia |
Consultancy |
Ordinary |
75% |
The address of the registered office of the companies registered in England is One Strand, Trafalgar Square, London WC2N 5EJ. |
The address of the registered office of CT Corporate Advisory Pty Ltd is Suite 3001, Level 30, 20 Bond Street, Sydney, NSW 2000. |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | - | 112,746 |
Deferred tax asset |
Prepayments |
The directors' account represents an advance on which interest was paid at a rate of 3.75% per annum. |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 15) |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 168,978 | 42,669 |
Other creditors |
Accruals and deferred income |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 15) |
15. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
16. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
17. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by a fixed and floating charge over the assets of the company. |
18. | PROVISIONS FOR LIABILITIES |
2024 |
£ |
Deferred tax | 142,469 |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
18. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1st July 2023 | ( |
) |
Accelerated capital allowances | 155,836 |
Balance at 30th June 2024 |
19. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 3 | 3 |
20. | RELATED PARTY DISCLOSURES |
2024 | 2023 |
£ | £ |
Dividends paid | 550,000 | 13,700,000 |
Amount due from related party |
Amount due to related party | ( |
) |
2024 | 2023 |
£ | £ |
Dividends received | - | 2,259,658 |
Amount due from related party |
Amount due to related party | ( |
) |
2024 | 2023 |
£ | £ |
Turnover |
Purchases |
Amount due from related party |
Amount due to related party | ( |
) |
CT GROUP (UK) TRADING LIMITED (REGISTERED NUMBER: 07196537) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
21. | PARENT COMPANY AND ULTIMATE CONTROLLING PARTIES |
The immediate parent company is CT Group International Limited, a company incorporated in England and Wales. |
The ultimate controlling parties are the directors of CT Group Holdings Limited, which is the ultimate parent company and whose registered office is One Strand, Trafalgar Square, London WC2N 5EJ. |
The results of CT Group (UK) Trading Limited are included in the consolidated accounts of CT Group Holdings Limited. |