The Management Centre (UK) Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

The Management Centre (UK) Ltd

Company Information

Directors

Mr B D Ross Ms T C Segal

Company secretary

Ms T C Segal

Registered office

42 The Glade North Walbottle Newcastle Upon Tyne NE15 9XJ

Accountants

Chuhan and Singh Partnership Limited Chartered Accountants 81 Borough Road Middlesbrough TS1 3AA

The Management Centre (UK) Ltd

(Registration number: 04663203)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	4,099	4,694
Current assets
Debtors	5	27,227	11,911
Cash at bank and in hand		296,869	354,781
		324,096	366,692
Creditors: Amounts falling due within one year	6	(132,955)	(174,174)
Net current assets		191,141	192,518
Net assets		195,240	197,212
Capital and reserves
Called up share capital		2	2
Retained earnings		195,238	197,210
Shareholders' funds		195,240	197,212

The Management Centre (UK) Ltd

(Registration number: 04663203)
Balance Sheet as at 31 October 2024 (continued)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 April 2025 and signed on its behalf by:
 

......................................... Mr B D Ross Director

......................................... Ms T C Segal Company secretary and director

The Management Centre (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
42 The Glade
North Walbottle
Newcastle Upon Tyne
NE15 9XJ

These financial statements were authorised for issue by the Board on 4 April 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 and other sales related taxes. The fair vaule of consideration takes into account trade discounts, settlement discounts and volume rebates.

Taxation

The tax expenses 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.

The Management Centre (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2	Accounting policies (continued)

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred assets and liabilities relate to taxes levied by the same tax authority.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% on reducing balance
Computers	25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

The Management Centre (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 November 2023	2,664	7,605	10,269
Additions	732	-	732
Disposals	(552)	(816)	(1,368)
At 31 October 2024	2,844	6,789	9,633
Depreciation
At 1 November 2023	1,257	4,318	5,575
Charge for the year	258	782	1,040
Eliminated on disposal	(430)	(651)	(1,081)
At 31 October 2024	1,085	4,449	5,534
Carrying amount
At 31 October 2024	1,759	2,340	4,099
At 31 October 2023	1,407	3,287	4,694

5

Debtors

Current	2024 £	2023 £
Trade debtors	11,852	1,724
Prepayments	11,301	7,801
Other debtors	4,074	2,386
	27,227	11,911

The Management Centre (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	12,852	10,477
Taxation and social security	1,890	498
Accruals and deferred income	22,113	3,600
Other creditors	96,100	159,599
	132,955	174,174