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REGISTERED NUMBER: 02332842 (England and Wales)












Audited Financial Statements

for the Year Ended 31 July 2024

for

Access Training Limited

Access Training Limited (Registered number: 02332842)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Access Training Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr D Armstrong
Ms S F Wallace
Ms A Walters
Mr T Pain



SECRETARY: Mr D Armstrong



REGISTERED OFFICE: Gateshead Skills Academy
8th Avenue, Kingsway South
Team Valley
Gateshead
Tyne and Wear
NE11 0JL



REGISTERED NUMBER: 02332842 (England and Wales)



AUDITORS: S&W Partners Audit Limited
17 Queens Lane
Newcastle
NE1 1RN



BANKERS: National Westminister Bank Plc
243 High St.
Gateshead
Tyne and Wear
NE8 1YU

Access Training Limited (Registered number: 02332842)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 25,920 6,466
25,920 6,466

CURRENT ASSETS
Debtors 7 543,867 564,517
Cash at bank and in hand 13,930 8,340
557,797 572,857
CREDITORS
Amounts falling due within one year 8 (129,720 ) (117,276 )
NET CURRENT ASSETS 428,077 455,581
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,997

462,047

CREDITORS
Amounts falling due after more than one
year

9

(74,261

)

(102,741

)
NET ASSETS 379,736 359,306

CAPITAL AND RESERVES
Called up share capital 284 284
Capital redemption reserve 4,716 4,716
Profit and loss account 374,736 354,306
SHAREHOLDERS' FUNDS 379,736 359,306

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mr D Armstrong - Director


Access Training Limited (Registered number: 02332842)

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

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
On 4th October 2024, Sandco 1038 Ltd, the parent company of Access Training Ltd, was acquired by University of Sunderland. Access Training Ltd remains a wholly owned subsidiary of Sandco 1038 Ltd and continues to operate as a wholly owned subsidiary of University of Sunderland.

The company's financial performance continues to improve with improved levels of turnover, profitability and improved cash flow. The growth in income is driven through an increase in the number of apprentices and a funding band increase in a number of the company's most popular programmes. Turnover is expected to increase by over 30% in 2024/2025.

Cash flow has improved both due to the increase in profitability and a significant reduction in the debtor days of the UK Shared Prosperity Fund contract with Sunderland City Council than there was for its predecessor, a European Social Fund contract.

The company's financial security and stability is further strengthened through its parent company, University of Sunderland.

Turnover
Turnover represents income from contracts recognised on an accruals basis when there is a right to consideration based on performance.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Training aids - 20% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost and 20% on cost

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

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.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Access Training Limited (Registered number: 02332842)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Leasing
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.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 27 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 30,000
AMORTISATION
At 1 August 2023
and 31 July 2024 30,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Access Training Limited (Registered number: 02332842)

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

6. TANGIBLE FIXED ASSETS
Fixtures
Training Plant and and
aids machinery fittings Totals
£    £    £    £   
COST
At 1 August 2023 628 161,680 69,424 231,732
Additions - 2,204 25,137 27,341
Disposals - (7,784 ) (18,248 ) (26,032 )
At 31 July 2024 628 156,100 76,313 233,041
DEPRECIATION
At 1 August 2023 628 155,322 69,316 225,266
Charge for year - 3,195 4,692 7,887
Eliminated on disposal - (7,784 ) (18,248 ) (26,032 )
At 31 July 2024 628 150,733 55,760 207,121
NET BOOK VALUE
At 31 July 2024 - 5,367 20,553 25,920
At 31 July 2023 - 6,358 108 6,466

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 175,150 82,126
Other debtors 68,717 182,391
243,867 264,517

Amounts falling due after more than one year:
Amounts owed by group undertakings 300,000 300,000

Aggregate amounts 543,867 564,517

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,242 18,023
Trade creditors 56,185 50,353
Taxation and social security 17,171 11,631
Other creditors 40,122 37,269
129,720 117,276

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 65,356 81,176
Taxation and social security 8,905 21,565
74,261 102,741

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 574 54,430
Between one and five years - 574
574 55,004

Access Training Limited (Registered number: 02332842)

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

11. SECURED DEBTS

The company is subject to a cross guarantee with a its parent company in respect of an inter company balance. At the balance sheet date the amount outstanding, to which this guarantee relates, amounted to £300,000 (2023 - £300,000).

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicola Scarr ACA (Senior Statutory Auditor)
for and on behalf of S&W Partners Audit Limited

13. POST BALANCE SHEET EVENTS

Sandco 1038 Limited, the parent company of Access Training Ltd, was acquired by University of Sunderland on 4th October 2024. Access Training Ltd remains a wholly owned subsidiary of Sandco 1038 Ltd and continues to operate as a wholly owned subsidiary of University of Sunderland.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M A Armstrong, by virtue of his 100% shareholding in the parent company, Sandco 1038 Limited. The registered office of Sandco 1038 Limited is Gateshead Skills Academy, 8th Avenue, Kingsway South, Team Valley, Gateshead, NE11 0JL.