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REGISTERED NUMBER: 02661244 (England and Wales)















SERVICE MANAGEMENT ASSOCIATION LIMITED
TRADING AS
ITSMF (UK)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH NOVEMBER 2024






SERVICE MANAGEMENT ASSOCIATION LIMITED (REGISTERED NUMBER: 02661244)
TRADING AS ITSMF (UK)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


SERVICE MANAGEMENT ASSOCIATION LIMITED
TRADING AS ITSMF (UK)

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2024







DIRECTORS: Mr N McDonald
Miss R Hosany
Mrs C Drake
Mr Y Patel
Mrs V A Wilson
Mr K P Sharp
Mr K Reeves
Mr C Massey
Ms S B Murphy
Mr J L Hamer


SECRETARY: Mr G W McDonald


REGISTERED OFFICE: Ground Floor South
Burford House
Leppington
BRACKNELL
Berkshire
RG12 7WW


REGISTERED NUMBER: 02661244 (England and Wales)


ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG


BANKERS: National Westminster Bank Plc
21 Gentleman's Walk
NORWICH
Norfolk
NR2 1NA

SERVICE MANAGEMENT ASSOCIATION LIMITED (REGISTERED NUMBER: 02661244)
TRADING AS ITSMF (UK)

STATEMENT OF FINANCIAL POSITION
30TH NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,683
Tangible assets 5 4,122 3,612
4,122 7,295

CURRENT ASSETS
Debtors 6 128,711 72,406
Cash at bank and in hand 233,255 265,566
361,966 337,972
CREDITORS
Amounts falling due within one year 7 232,477 164,596
NET CURRENT ASSETS 129,489 173,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,611

180,671

CREDITORS
Amounts falling due after more than
one year

8

(7,834

)

(18,126

)

PROVISIONS FOR LIABILITIES (6,000 ) (6,686 )
NET ASSETS 119,777 155,859

RESERVES
Income and expenditure account 119,777 155,859
119,777 155,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 surplus or deficit 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.

SERVICE MANAGEMENT ASSOCIATION LIMITED (REGISTERED NUMBER: 02661244)
TRADING AS ITSMF (UK)

STATEMENT OF FINANCIAL POSITION - continued
30TH NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th August 2025 and were signed on its behalf by:




Mr Y Patel - Director



Mr C Massey - Director


SERVICE MANAGEMENT ASSOCIATION LIMITED (REGISTERED NUMBER: 02661244)
TRADING AS ITSMF (UK)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024


1. STATUTORY INFORMATION

The company is a private company limited by guarantee, and incorporated in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02661244

Registered office: Ground Floor South, Burford House, Leppington, Bracknell, Berkshire, RG12 7WW

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

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

Intangible assets
Amortisation is provided at the following annual rates in order to write off each asset over its useful economic life.

Website - 33% on reducing balance
Course development - 33% on reducing balance

Course development costs are capitalised on the basis that they are used by the company to generate income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life, or if held under a finance lease, the lease term, whichever is shorter.

Office Equipment - 33% on reducing balance
Furniture and Fittings - 25% on reducing balance

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.


SERVICE MANAGEMENT ASSOCIATION LIMITED (REGISTERED NUMBER: 02661244)
TRADING AS ITSMF (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st December 2023
and 30th November 2024 41,957
AMORTISATION
At 1st December 2023 38,274
Charge for year 3,683
At 30th November 2024 41,957
NET BOOK VALUE
At 30th November 2024 -
At 30th November 2023 3,683

SERVICE MANAGEMENT ASSOCIATION LIMITED (REGISTERED NUMBER: 02661244)
TRADING AS ITSMF (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2023 17,763
Additions 1,612
At 30th November 2024 19,375
DEPRECIATION
At 1st December 2023 14,151
Charge for year 1,102
At 30th November 2024 15,253
NET BOOK VALUE
At 30th November 2024 4,122
At 30th November 2023 3,612

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 91,347 58,468
Other debtors 33,524 10,098
124,871 68,566

Amounts falling due after more than one year:
Other debtors 3,840 3,840

Aggregate amounts 128,711 72,406

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,277 9,997
Trade creditors 90,702 45,990
Taxation and social security 9,868 5,169
Other creditors 121,630 103,440
232,477 164,596

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,834 18,126

SERVICE MANAGEMENT ASSOCIATION LIMITED (REGISTERED NUMBER: 02661244)
TRADING AS ITSMF (UK)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 8,533 12,800
Between one and five years - 8,533
8,533 21,333

10. LIMITED BY GUARANTEE

The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £1 per member.