| REGISTERED NUMBER: |
| SERVICE MANAGEMENT ASSOCIATION LIMITED |
| TRADING AS |
| ITSMF (UK) |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30TH NOVEMBER 2024 |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 43-45 Devizes Road |
| SWINDON |
| Wiltshire |
| SN1 4BG |
| BANKERS: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| RESERVES |
| Income and expenditure account |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1st December 2023 |
| and 30th November 2024 |
| AMORTISATION |
| At 1st December 2023 |
| Charge for year |
| At 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| 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 |
| Additions |
| At 30th November 2024 |
| DEPRECIATION |
| At 1st December 2023 |
| Charge for year |
| At 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| 6. | DEBTORS |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 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 |
| Between one and five years |
| 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. |