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REGISTERED NUMBER: 02905641 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

PROVIDENCE TRAINING LIMITED

PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROVIDENCE TRAINING LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTOR: D H Warrell





SECRETARY: D H Warrell





REGISTERED OFFICE: Westaway
21Westaway Drive
Hakin
Milford Haven
Pembrokeshire
SA73 3EQ





REGISTERED NUMBER: 02905641 (England and Wales)





ACCOUNTANTS: L M Griffiths & Co Limited
Chartered Certified Accountants
1&2 Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1SB

PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)

STATEMENT OF FINANCIAL POSITION
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 558,087 513,032
Investments 5 500 500
558,587 513,532

CURRENT ASSETS
Inventories 3,800 3,800
Debtors 6 66,966 71,088
Cash at bank and in hand 156,857 54,390
227,623 129,278
CREDITORS
Amounts falling due within one year 7 162,802 75,408
NET CURRENT ASSETS 64,821 53,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

623,408

567,402

CREDITORS
Amounts falling due after more than one
year

8

(28,217

)

(43,230

)

PROVISIONS FOR LIABILITIES (13,235 ) (1,401 )
NET ASSETS 581,956 522,771

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 375,498 375,498
Retained earnings 206,456 147,271
SHAREHOLDERS' FUNDS 581,956 522,771

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

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

The director acknowledges his 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.

PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)

STATEMENT OF FINANCIAL POSITION - continued
31 August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 May 2025 and were signed by:





D H Warrell - Director


PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Providence 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 (£).


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 as modified by the revaluation of certain assets.

The director is not aware of any material uncertainties in making his assessment of going concern. As a result the going concern basis of accounting has been adopted.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Plant and machinery - 20% on cost and 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Property, plant and equipment is measured at cost less accumulated depreciation and any accumulated impairment losses.

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants for capital expenditure are credited to a deferral account and released to the profit and loss account over the expected useful life of the relevant asset.

Income recognition
The company's turnover represents the amount derived from training and consultancy services. The company recognises income when the sales invoice has been issued to the customer.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 September 2023 500,000 70,100 9,997
Additions - 11,775 -
At 31 August 2024 500,000 81,875 9,997
DEPRECIATION
At 1 September 2023 - 64,340 7,640
Charge for year - 2,559 353
At 31 August 2024 - 66,899 7,993
NET BOOK VALUE
At 31 August 2024 500,000 14,976 2,004
At 31 August 2023 500,000 5,760 2,357

PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 22,726 44,922 647,745
Additions - 39,311 51,086
At 31 August 2024 22,726 84,233 698,831
DEPRECIATION
At 1 September 2023 21,138 41,595 134,713
Charge for year 397 2,722 6,031
At 31 August 2024 21,535 44,317 140,744
NET BOOK VALUE
At 31 August 2024 1,191 39,916 558,087
At 31 August 2023 1,588 3,327 513,032

The property was valued by Guy Thomas LLP at £500,000 on 18 August 2023. The valuation was based on the market value of the freehold title with full vacant possession..

The directors believe that the specialist plant and machinery has an open market value in excess of its carrying value. They estimate the value of workshop plant and machinery at around £125k.

Cost or valuation at 31 August 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2013 114,250 - -
Valuation in 2023 174,667 - -
Cost 211,083 81,875 9,997
500,000 81,875 9,997

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2013 - - 114,250
Valuation in 2023 - - 174,667
Cost 22,726 84,233 409,914
22,726 84,233 698,831

PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 500
NET BOOK VALUE
At 31 August 2024 500
At 31 August 2023 500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 58,250 43,972
Other debtors 8,716 27,116
66,966 71,088

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 88,015 17,253
Taxation and social security 25,332 24,942
Other creditors 49,455 33,213
162,802 75,408

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,695 15,695
Other creditors 12,522 27,535
28,217 43,230

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 15,695 15,695

PROVIDENCE TRAINING LIMITED (REGISTERED NUMBER: 02905641)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 15,695 15,695

The bank loan is secured by a charge over freehold property of the company and by a personal guarantee of £50,000 provided by Mr D H Warrell and Mrs C P Warrell, directors.

10. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 375,498

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits owed by/(to) directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
D H Warrell and Mrs C P Warrell
Balance outstanding at start of year 25,630 (25,683 )
Amounts advanced - 51,313
Amounts repaid (22,216 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,414 25,630