Change Associates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05372001

CHANGE ASSOCIATES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 February 2025

CHANGE ASSOCIATES LIMITED

BALANCE SHEET

28 February 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		2,491		4,226

CURRENT ASSETS

Debtors	7	1,727,518	1,387,748
Cash at bank and in hand		47,035	71,164
		-----------	-----------
		1,774,553	1,458,912

CREDITORS: amounts falling due within one year	8	( 1,070,902)		( 609,727)
		-----------		-----------
NET CURRENT ASSETS			703,651		849,185
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			706,142		853,411

CREDITORS: amounts falling due after more than one year	9		( 38,331)		( 48,330)

PROVISIONS

Taxation including deferred tax	( 623)	( 803)
	--------	--------
NET ASSETS	667,188	804,278
	--------	--------

CAPITAL AND RESERVES

Called up share capital	10	320	320
Share premium account		118,667	118,667
Capital redemption reserve		20	20
Profit and loss account		548,181	685,271
		--------	--------
SHAREHOLDERS FUNDS		667,188	804,278
		--------	--------

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 profit and loss account has not been delivered.

For the year ending 28 February 2025 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 .

CHANGE ASSOCIATES LIMITED

BALANCE SHEET (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 19 June 2025 , and are signed on behalf of the board by:

G Russell

Director

Company registration number: 05372001

CHANGE ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18b New Quebec Street, London, W1H 7RX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of services rendered during the year, and adjusted for work in progress.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and 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.

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:

	Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

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. For the purposes of impairment testing, 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.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. Financial assets comprise of debtors and cash. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities comprise of creditors. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 March 2024	45,351	45,351
Additions	1,208	1,208
	-------	-------
At 28 February 2025	46,559	46,559
	-------	-------
Depreciation
At 1 March 2024	41,125	41,125
Charge for the year	2,943	2,943
	-------	-------
At 28 February 2025	44,068	44,068
	-------	-------
Carrying amount
At 28 February 2025	2,491	2,491
	-------	-------
At 29 February 2024	4,226	4,226
	-------	-------

6. Investments

	Other investments other than loans
	£
Cost
At 1 March 2024 and 28 February 2025	45
	----
Impairment
At 1 March 2024	–
Disposals	45
	----
At 28 February 2025	45
	----

Carrying amount
At 28 February 2025	–
	----
At 29 February 2024	45
	----

7. Debtors

	2025	2024
	£	£
Trade debtors	692,736	615,137
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,013,743	762,967
Other debtors	21,039	9,644
	-----------	-----------
	1,727,518	1,387,748
	-----------	-----------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	313,732	413,809
Amounts owed to group undertakings and undertakings in which the company has a participating interest	378,775	22,316
Corporation tax	114,984	76,011
Social security and other taxes	36,161	–
Other creditors - Cynergy	98,993	–
Other creditors	118,257	87,591
	-----------	--------
	1,070,902	609,727
	-----------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	38,331	48,330
	-------	-------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
'A' Ordinary shares of £ 1 each	160	160	160	160
'B' Ordinary shares of £ 1 each	20	20	20	20
'C' Ordinary shares of £ 1 each	140	140	140	140
	----	----	----	----
	320	320	320	320
	----	----	----	----

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	21,500	–
Later than 1 year and not later than 5 years	23,292	–
	-------	----
	44,792	–
	-------	----

12. Controlling party

The ultimate and immediate parent company is Change Associates Holdings Limited, a company incorporated and registered in England.