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REGISTERED NUMBER: 02423523 (England and Wales)










ENGINEERING TRUST TRAINING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ENGINEERING TRUST TRAINING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: M G Vingoe



REGISTERED OFFICE: 11 Wedgwood Road
Bicester
Oxfordshire
OX26 4UL



REGISTERED NUMBER: 02423523 (England and Wales)



SENIOR STATUTORY AUDITOR: Harendra Kishorlal Shah (FCCA)



AUDITORS: Harendra Kishorlal Shah (FCCA) (Senior Auditor)
For and behalf of Shah & Co (Accountants) Ltd
Chartered Accountants & Statutory Auditors
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 162,227 190,733

CURRENT ASSETS
Debtors 5 261,121 193,848
Cash at bank 74,883 99,783
336,004 293,631
CREDITORS
Amounts falling due within one year 6 (248,354 ) (272,418 )
NET CURRENT ASSETS 87,650 21,213
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,877

211,946

CREDITORS
Amounts falling due after more than one year 7 (22,627 ) (67,466 )

PROVISIONS FOR LIABILITIES (11,520 ) -
NET ASSETS 215,730 144,480

CAPITAL AND RESERVES
Called up share capital 9 160,000 160,000
Retained earnings 55,730 (15,520 )
SHAREHOLDERS' FUNDS 215,730 144,480

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 23 May 2025 and were signed by:





M G Vingoe - Director


ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Engineering Trust 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.

ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
The directors consider that there are no material uncertainties about the company's ability to continue as a going concern. They have reviewed the financial position in conjunction with reserve levels and consider them adequate to meet future operational commitments.

Turnover
Turnover is stated net of VAT and trade discounts, and represents the amounts derived from the provision of services from operations in the UK, which fall within the company's ordinary activities.

Training revenue is recognised in the period the service is provided. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Other income represents a license fee for the use of the company's training facilities.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Straight line over the life of the lease
Plant & Machinery 15% Reducing balance
Fixtures, fittings & equipment 15% Straight line
Office and computer equipment 25% Straight line

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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the trusts' contractual obligations expire or are discharged or cancelled.

Government grants
Grants are accounted for on a received basis. Grants for capital items are credited to the cost of the fixed asset.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

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.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

- Tangible fixed assets
Depreciation is provided in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. The actual lives of these assets are reviewed annually and may vary depending on a number of factors. In assessing asset lives, factors such as life cycles and maintenance programmes are taken into account. Residual value assessment considers issues such as the remaining life of the assets and projected disposal values.

The following are key sources of estimation uncertainty:

- Impairment of tangible fixed assets
In determining whether there are indicators of impairment of the company's tangible fixed assets, factors taken into consideration by the directors include the economic value in use and whether there are any expected future cash flows to be generated from such assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 14 ) .

ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 September 2023 109,424 104,849 13,093 227,366
Additions 43,569 11,561 6,527 61,657
Disposals - (48,620 ) - (48,620 )
Reclassification/transfer - (32,291 ) 32,291 -
At 31 August 2024 152,993 35,499 51,911 240,403
DEPRECIATION
At 1 September 2023 18,273 14,515 3,845 36,633
Charge for year 29,099 17,326 2,411 48,836
Eliminated on disposal - (7,293 ) - (7,293 )
Reclassification/transfer - (19,224 ) 19,224 -
At 31 August 2024 47,372 5,324 25,480 78,176
NET BOOK VALUE
At 31 August 2024 105,621 30,175 26,431 162,227
At 31 August 2023 91,151 90,334 9,248 190,733

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to
property
£   
COST
At 1 September 2023 109,424
Additions 43,569
At 31 August 2024 152,993
DEPRECIATION
At 1 September 2023 18,273
Charge for year 29,099
At 31 August 2024 47,372
NET BOOK VALUE
At 31 August 2024 105,621
At 31 August 2023 91,151

ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 138,062 103,950
Amounts owed by group undertakings 31,905 4,175
Other debtors 10,736 10,787
Prepayments and accrued income 80,418 62,633
261,121 181,545

Amounts falling due after more than one year:
Deferred tax asset - 12,303

Aggregate amounts 261,121 193,848

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 8) 7,543 16,866
Trade creditors 147,485 141,207
Taxation and social security 22,903 22,128
Other creditors 70,423 92,217
248,354 272,418

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 8) 22,627 67,466

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 7,543 16,866
Between one and five years 22,627 67,466
30,170 84,332

ENGINEERING TRUST TRAINING LIMITED (REGISTERED NUMBER: 02423523)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 49,878 54,189
Between one and five years 169,714 140,894
In more than five years 104,823 -
324,415 195,083

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
160,000 Ordinary share capital 1 160,000 160,000

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

The Report of the Auditors was unqualified.

Harendra Kishorlal Shah (FCCA) (Senior Statutory Auditor)
for and on behalf of Harendra Kishorlal Shah (FCCA) (Senior Auditor)

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. POST BALANCE SHEET EVENTS

After the balance sheet date but before the issuance of the financial statements, there were no significant subsequent events requiring adjustment or disclosure in the financial statements.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Engineering Trust.