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REGISTERED NUMBER: SC165883 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

STUC TRAINING LIMITED

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


STUC TRAINING LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Ms R Foyer
Ms M Senior
Ms E L Macer
D Thomson





SECRETARY: Ms R Foyer





REGISTERED OFFICE: 8 Landressy Street
Glasgow
G40 1BP





REGISTERED NUMBER: SC165883 (Scotland)





ACCOUNTANTS: Watson & Co.
Oakfield House
378 Brandon Street
Motherwell
NORTH LANARKSHIRE
ML1 1XA

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Abridged Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 958,685 988,401

CURRENT ASSETS
Debtors 66,345 272,746
Cash at bank and in hand 915,364 643,538
981,709 916,284
CREDITORS
Amounts falling due within one year 578,873 500,329
NET CURRENT ASSETS 402,836 415,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,361,521

1,404,356

CREDITORS
Amounts falling due after more than one
year

537,638

537,638
NET ASSETS 823,883 866,718

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 823,783 866,618
823,883 866,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Abridged Balance Sheet - continued
31 December 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:




Ms R Foyer - Director



Ms M Senior - Director


STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

STUC Training Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on reducing balance

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

STUC TRAINING LIMITED (REGISTERED NUMBER: SC165883)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 1,237,763
Additions 1,195
At 31 December 2024 1,238,958
DEPRECIATION
At 1 January 2024 249,362
Charge for year 30,911
At 31 December 2024 280,273
NET BOOK VALUE
At 31 December 2024 958,685
At 31 December 2023 988,401

5. CONTINGENT LIABILITIES

A charge on the property at 333 Woodlands Road, Glasgow G3 6NG was created by the company on 10 April 2009 securing all sums due or to become due in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme. An additional standard security in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme was created on 28 September 2011, updated on 6 May 2017 and further updated on 29 March 2019. The security is for the lower of the entire aggregate liability and £1,026,000. On 29 July 2021 and following the sale of the aforementioned property, the security was reassigned to 8 Landressy Street, Glasgow G40 1BP, a property owned by STUC Training Ltd.

An amount of £226,000 had been placed in a Fixed Term Deposit by the company and a first fixed charge security is held over this account, including all sums from time to time standing to the credit of the account, in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme.

On 23 March 2022 an updated fixed charge was created in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme whereby, in the event of the company's insolvency, the amount recoverable is limited to an amount equal to the lower of the entire aggregate liability of the employer in relation to the Pension Scheme and £226,000.

On 30 July 2021 a security was granted in favour of Clyde Gateway Developments Ltd over a specified area of the property at 8 Landressy Street, Glasgow G40 1BP. This security is in respect of possible further amounts due based on valuations at five and ten year intervals after the initial purchase of this property. This security is postponed to the extent of all sums due and to become due under the standard security granted or to be granted in favour of the Trustees of the Scottish Trades Union Congress General Council Staff Pension Scheme over the secured subjects..