REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
Plato Training (UK) Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
Plato Training (UK) Ltd |
Plato Training (UK) Ltd (Registered number: 06564460) |
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 |
Plato Training (UK) Ltd |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Military House |
24 Castle Street |
Chester |
Cheshire |
CH1 2DS |
Plato Training (UK) Ltd (Registered number: 06564460) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PENSION LIABILITY | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
The financial statements were approved by the director and authorised for issue on |
Plato Training (UK) Ltd (Registered number: 06564460) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Plato Training (UK) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1. |
Turnover |
Revenue 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 |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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. |
Pension costs and other post-retirement benefits |
Provisions |
Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation taking into account the risks and uncertainties surrounding the obligation. |
Pensions |
For a defined benefit scheme, the liability recorded in the balance sheet is the present value of the defined obligation at that date. The defined benefit obligation is calculated on an annual basis by independent actuaries. |
Actuarial gains and losses are recognised in full in the period in which they occur and are shown in Other Comprehensive Income. |
Current and past service costs, along with settlements or curtailments, are charged to the Income Statement. Interest on pension plan liabilities are recognised within finance expense. |
Plato Training (UK) Ltd (Registered number: 06564460) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | £1 | 10 | 10 |
Plato Training (UK) Ltd (Registered number: 06564460) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
As at 31 July 2024, a Director of the company owed the company £nil (2023: £546,707) in respect of an interest free loan which is repayable on demand. |
9. | PENSION COSTS |
Employer Pension Obligations |
The Company has agreed to fund a defined benefit pension scheme in respect of key employees. The most recent actuarial valuation of the obligations of £191,000 was on 31/07/2019. During the year the expense incurred was £153,000. |
The principal assumptions used are: |
- Discount rate - 2.1% |
- Inflation RPI - 3.1% |
- Inflation CPI - 2.0% |
- Pre and Post Retirement mortality - S3PA tables with improvements in the CMI 2018 model and a long term rate of improvement of 1.25% |
2019 |
Present value of defined benefit obligations £191,000 |
Fair value of scheme assets £ 0 |
Liability recognised in the balance sheet £191,000 |
Movements in the present value of the defined benefit obligations were as follows: |
2019 |
At the beginning of the year £ 0 |
Current service cost £150,000 |
Interest cost £ 3,000 |
Actuarial losses £ 53,000 |
Settlement £ 0 |
At end of year £191,000 |
10. | PROVISIONS FOR LIABILITIES AND CHARGES |
Employee Compensation Provision |
2019 |
Opening balance £150,000 |
Provision created during the year £ 0 |
Provision released during the year (£150,000) |
Closing balance £ 0 |