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REGISTERED NUMBER: 06564460 (England and Wales)










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: Mrs C P Jones





REGISTERED OFFICE: Unit 3 Wilkinson Court
Wrexham Industrial Estate
Wrexham
Denbighshire
LL13 9AE





REGISTERED NUMBER: 06564460 (England and Wales)





ACCOUNTANTS: Haines Watts
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 8,753 4,254

CURRENT ASSETS
Debtors 5 202,788 985,592
Cash at bank and in hand 240,139 223,391
442,927 1,208,983
CREDITORS
Amounts falling due within one year 6 (130,783 ) (296,051 )
NET CURRENT ASSETS 312,144 912,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,897

917,186

PENSION LIABILITY (191,000 ) (191,000 )
NET ASSETS 129,897 726,186

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings 129,887 726,176
SHAREHOLDERS' FUNDS 129,897 726,186

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

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

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 April 2025 and were signed by:



Mrs C P Jones - Director


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 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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 25 (2023 - 25 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 42,865 117,192 98,395 258,452
Additions - 8,753 - 8,753
At 31 July 2024 42,865 125,945 98,395 267,205
DEPRECIATION
At 1 August 2023 42,865 115,157 96,176 254,198
Charge for year - 2,035 2,219 4,254
At 31 July 2024 42,865 117,192 98,395 258,452
NET BOOK VALUE
At 31 July 2024 - 8,753 - 8,753
At 31 July 2023 - 2,035 2,219 4,254

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 162,788 398,885
Amounts owed by group undertakings 40,000 40,000
Other debtors - 546,707
202,788 985,592

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 1,473 -
Trade creditors 38,918 38,200
Taxation and social security 77,907 240,538
Other creditors 12,485 17,313
130,783 296,051

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
10 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