Company registration number 09140926 (England and Wales)
TRUEMAN CHANGE MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
TRUEMAN CHANGE MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
TRUEMAN CHANGE MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,400
8,100
Tangible assets
4
13,699
15,694
19,099
23,794
Current assets
Debtors
5
48,841
101,005
Cash at bank and in hand
34,862
18,622
83,703
119,627
Creditors: amounts falling due within one year
6
(73,920)
(56,709)
Net current assets
9,783
62,918
Total assets less current liabilities
28,882
86,712
Creditors: amounts falling due after more than one year
7
(22,930)
(11,009)
Net assets
5,952
75,703
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
5,951
75,702
Total equity
5,952
75,703

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

TRUEMAN CHANGE MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 2 April 2025
Miss L Trueman
Director
Company Registration No. 09140926
TRUEMAN CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Trueman Change Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Crown House, Bridgewater Close, Burnley, Lancashire, United Kingdom, BB11 5TE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
20% straight line basis
1.4
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

TRUEMAN CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

TRUEMAN CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
14
3
Intangible fixed assets
Website
£
Cost
At 1 August 2023 and 31 July 2024
13,500
Amortisation and impairment
At 1 August 2023
5,400
Amortisation charged for the year
2,700
At 31 July 2024
8,100
Carrying amount
At 31 July 2024
5,400
At 31 July 2023
8,100
TRUEMAN CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
23,466
Additions
398
At 31 July 2024
23,864
Depreciation and impairment
At 1 August 2023
7,772
Depreciation charged in the year
2,393
At 31 July 2024
10,165
Carrying amount
At 31 July 2024
13,699
At 31 July 2023
15,694
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
40,153
29,120
Other debtors
8,688
71,885
48,841
101,005
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
18,996
3,996
Trade creditors
32,415
1,865
Taxation and social security
18,964
32,621
Other creditors
3,545
18,227
73,920
56,709
Within bank loans is an amount of £15,000 (2023 - £nil) which is secured.
TRUEMAN CHANGE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
22,930
11,009
Within bank loans is a balance of £16,250 (2023 - £nil) which is secured.
2024-07-312023-08-01falsefalsefalse04 April 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMiss L Trueman091409262023-08-012024-07-31091409262024-07-31091409262023-07-3109140926core:IntangibleAssetsOtherThanGoodwill2024-07-3109140926core:IntangibleAssetsOtherThanGoodwill2023-07-3109140926core:OtherPropertyPlantEquipment2024-07-3109140926core:OtherPropertyPlantEquipment2023-07-3109140926core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3109140926core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3109140926core:Non-currentFinancialInstrumentscore:AfterOneYear2024-07-3109140926core:Non-currentFinancialInstrumentscore:AfterOneYear2023-07-3109140926core:CurrentFinancialInstruments2024-07-3109140926core:CurrentFinancialInstruments2023-07-3109140926core:ShareCapital2024-07-3109140926core:ShareCapital2023-07-3109140926core:RetainedEarningsAccumulatedLosses2024-07-3109140926core:RetainedEarningsAccumulatedLosses2023-07-3109140926bus:Director12023-08-012024-07-3109140926core:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3109140926core:ComputerEquipment2023-08-012024-07-31091409262022-08-012023-07-3109140926core:IntangibleAssetsOtherThanGoodwill2023-07-3109140926core:OtherPropertyPlantEquipment2023-07-3109140926core:OtherPropertyPlantEquipment2023-08-012024-07-3109140926core:WithinOneYear2024-07-3109140926core:WithinOneYear2023-07-3109140926core:Non-currentFinancialInstruments2024-07-3109140926core:Non-currentFinancialInstruments2023-07-3109140926bus:PrivateLimitedCompanyLtd2023-08-012024-07-3109140926bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3109140926bus:FRS1022023-08-012024-07-3109140926bus:AuditExemptWithAccountantsReport2023-08-012024-07-3109140926bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP