20 01/08/2023 31/07/2024 2024-07-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-08-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 06872974 2023-08-01 2024-07-31 06872974 2024-07-31 06872974 2023-07-31 06872974 2022-08-01 2023-07-31 06872974 2023-07-31 06872974 2022-07-31 06872974 bus:Director1 2023-08-01 2024-07-31 06872974 core:FurnitureFittingsToolsEquipment 2023-07-31 06872974 core:FurnitureFittingsToolsEquipment 2024-07-31 06872974 core:WithinOneYear 2024-07-31 06872974 core:WithinOneYear 2023-07-31 06872974 core:AfterOneYear 2024-07-31 06872974 core:AfterOneYear 2023-07-31 06872974 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 06872974 core:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 06872974 core:ShareCapital 2024-07-31 06872974 core:ShareCapital 2023-07-31 06872974 core:RetainedEarningsAccumulatedLosses 2024-07-31 06872974 core:RetainedEarningsAccumulatedLosses 2023-07-31 06872974 core:ShareCapital 2022-07-31 06872974 core:RetainedEarningsAccumulatedLosses 2022-07-31 06872974 core:PreviouslyStatedAmount core:ShareCapital 2024-07-31 06872974 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 06872974 core:CostValuation core:Non-currentFinancialInstruments 2024-07-31 06872974 core:Non-currentFinancialInstruments 2024-07-31 06872974 core:Non-currentFinancialInstruments 2023-07-31 06872974 core:FurnitureFittingsToolsEquipment 2023-07-31 06872974 bus:Director1 2024-07-31 06872974 bus:Director1 2023-07-31 06872974 bus:SmallEntities 2023-08-01 2024-07-31 06872974 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 06872974 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 06872974 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06872974 bus:FullAccounts 2023-08-01 2024-07-31 06872974 core:AllAssociates 2024-07-31 06872974 core:AllAssociates 2023-07-31 06872974 core:AllAssociates 2023-08-01 2024-07-31 06872974 1 2023-08-01 2024-07-31
Company registration number: 06872974
J G W Training Limited
Trading as Ascento
Unaudited filleted financial statements
31 July 2024
J G W Training Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
J G W Training Limited
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 6,688 1,869
Investments 6 1 1
_______ _______
6,689 1,870
Current assets
Stocks - 69,600
Debtors 7 175,190 109,048
Cash at bank and in hand 310,246 172,125
_______ _______
485,436 350,773
Creditors: amounts falling due
within one year 8 ( 381,401) ( 214,889)
_______ _______
Net current assets 104,035 135,884
_______ _______
Total assets less current liabilities 110,724 137,754
Creditors: amounts falling due
after more than one year 9 ( 33,400) ( 36,066)
_______ _______
Net assets 77,324 101,688
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 77,314 101,678
_______ _______
Shareholders funds 77,324 101,688
_______ _______
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr C R Ash
Director
Company registration number: 06872974
J G W Training Limited
Statement of changes in equity
Year ended 31 July 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2022 10 239,153 239,163
Profit for the year 66,835 66,835
_______ _______ _______
Total comprehensive income for the year - 66,835 66,835
User defined investments by and distributions to owners movement 1 - ( 204,310) ( 204,310)
_______ _______ _______
Total investments by and distributions to owners - ( 204,310) ( 204,310)
_______ _______ _______
At 31 July 2023 and 1 August 2023 10 101,678 101,688
Profit for the year 430,636 430,636
_______ _______ _______
Total comprehensive income for the year - 430,636 430,636
User defined investments by and distributions to owners movement 1 - ( 455,000) ( 455,000)
_______ _______ _______
Total investments by and distributions to owners - ( 455,000) ( 455,000)
_______ _______ _______
At 31 July 2024 10 77,314 77,324
_______ _______ _______
J G W Training Limited
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is J G W Training Limited, 2 Dronfield Court, Wards Yard, Dronfield, Derbyshire, S18 1NQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2023: 20 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2023 38,112 38,112
Additions 5,900 5,900
_______ _______
At 31 July 2024 44,012 44,012
_______ _______
Depreciation
At 1 August 2023 36,243 36,243
Charge for the year 1,081 1,081
_______ _______
At 31 July 2024 37,324 37,324
_______ _______
Carrying amount
At 31 July 2024 6,688 6,688
_______ _______
At 31 July 2023 1,869 1,869
_______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 August 2023 and 31 July 2024 1 1
_______ _______
Impairment
At 1 August 2023 and 31 July 2024 - -
_______ _______
Carrying amount
At 31 July 2024 1 1
_______ _______
At 31 July 2023 1 1
_______ _______
Fixed asset investments represent a 100% holding in the share capital of JGW (Management) Training Ltd.
7. Debtors
2024 2023
£ £
Trade debtors 131,980 61,544
Amounts owed by group undertakings and undertakings in which the company has a participating interest 33,200 22,000
Other debtors 10,010 25,504
_______ _______
175,190 109,048
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 35,000 30,456
Trade creditors 70,322 57,364
Corporation tax 169,499 48,819
Social security and other taxes 23,628 36,906
Other creditors 82,952 41,344
_______ _______
381,401 214,889
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 8,400 19,399
Other creditors 25,000 16,667
_______ _______
33,400 36,066
_______ _______
10. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2024 2023
£ £
Mr C R Ash 199 199
_______ _______
11. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
JGW (Management) Training Ltd - - 22,000 22,000
McCrudden Training Ltd - 25,000 11,200 -
_______ _______ _______ _______
JGW Training Ltd is the sole shareholder of JGW (Management) Training Ltd. JGW (Management) Training Ltd is the sole shareholder of McCrudden Training Ltd.
12. Controlling party
The controlling party is Ascento Trust Limited by virtue of it's 87.5% shareholding.