ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 02889550

TOMORROW'S GUIDES LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

TOMORROW'S GUIDES LIMITED

COMPANY INFORMATION

Directors	S Low-Tufo
	W S Blackwell


Registered number	02889550


Registered office	Unit 1, Station Yard
	Station Road
	Hungerford
	Berkshire
	RG17 0DY


Independent auditor	James Cowper Kreston Audit
	Chartered Accountants and Statutory Auditor
	2 Communications Road
	Greenham Business Park
	Greenham
	Newbury
	Berkshire
	RG19 6AB

TOMORROW'S GUIDES LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditor's Report	5 - 7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11 - 23

TOMORROW'S GUIDES LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction

The Directors present the Strategic Report for the year ended 31 December 2024.

Business review

The Company operates three UK-based directory websites in the care sector, focusing on older person care and day nurseries. Through annual subscriptions, care providers receive enhanced listing profiles, job advertising, review services, and dedicated call-to-action features for care placements. These services connect care seekers with suitable providers and supply providers with enquiry details, helping to facilitate informed choices throughout the sector.
Turnover increased from £11,056,584 to £12,463,271 due to a price increase to some product lines, as well as more clients upgrading to a higher tier package.
The gross profit margin has increased slightly from 88.2% to 88.7%.
Administrative expenses have increased from £5,820,889 to £6,860,093 due to movements in labour costs as well as other general cost increases to support business growth.
A profit after tax of £3,550,297 was reported for the year, compared to a profit of £3,396,574 in 2023

Principal risks and uncertainties

Market Risk
Our websites rely heavily on strong search engine visibility, which can fluctuate due to changes in algorithms and user behaviour. To mitigate these risks, senior management continuously refines our products and broadens our marketing strategy to maintain and improve rankings.
At the same time, rapid advancements in artificial intelligence (AI)—including generative search and automated content creation—could disrupt how users discover and engage with online content. We are closely monitoring AI trends and exploring opportunities to integrate relevant technologies, ensuring our platforms remain competitive and well-positioned in an evolving digital landscape.
Financial risk management
Senior management regularly review key debtor recoverability metrics on a weekly basis and perform the relevant due diligence before entering into contracts with suppliers.
Business environment
The business operates in the older person care and childcare sectors which have ongoing challenges and risks around funding, recruitment and infection control. We remain committed to being a valuable resource to help care seekers find the right care, and to help care providers attract new clients. Various turnover protection and investment strategies have been implemented to mitigate the risk to our business..

Financial key performance indicators

Turnover has increased by 12.7% to £12,463,271 - this was achieved by expanding into our total addressable market, maintaining our renewal rates and increasing the effective price per profile.
The company has generated an operating profit of £4,194,833 in 2024 compared to £3,936,399 in 2023.
The profit after tax for the year has increased by 4.5% to £3,550,297.
The net asset position has decreased by 25.5% to £672,182.

Page 1

TOMORROW'S GUIDES LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

This report was approved by the board and signed on its behalf.

W S Blackwell

Director

Date: 27 March 2025

Page 2

TOMORROW'S GUIDES LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors

The directors who served during the year were:

S Low-Tufo

W S Blackwell

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £3,550,297 (2023 - £3,396,574).

Dividends of £3,780,000 were paid during the year (2023: £3,030,000).

Future developments

We plan to continue to develop our product to help care seekers find the right care, and to help care providers attract new clients.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Page 3

TOMORROW'S GUIDES LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Auditor

The auditor, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

W S Blackwell

Director

Date: 27 March 2025

Page 4

TOMORROW'S GUIDES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TOMORROW'S GUIDES LIMITED

Opinion

We have audited the financial statements of Tomorrow's Guides Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5

TOMORROW'S GUIDES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TOMORROW'S GUIDES LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 6

TOMORROW'S GUIDES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TOMORROW'S GUIDES LIMITED (CONTINUED)

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

∙Enquiry of management and those charged with governance around actual and potential litigation and claims;

∙Reviewing minutes of meetings of those charged with governance;

∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Baillie BA (Hons) ACA FCCA (Senior Statutory Auditor)

for and on behalf of

James Cowper Kreston Audit

Chartered Accountants and Statutory Auditor

2 Communications Road

Greenham Business Park

Greenham

Newbury

Berkshire

RG19 6AB

Date: 27 March 2025

Page 7

TOMORROW'S GUIDES LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£


Turnover	4	12,463,271	11,056,584
Cost of sales		(1,408,345)	(1,299,296)
Gross profit		11,054,926	9,757,288
Administrative expenses		(6,860,093)	(5,820,889)
Operating profit		4,194,833	3,936,399
Interest receivable and similar income		42,993	42,265
Interest payable and similar expenses		-	(6,627)
Profit before tax		4,237,826	3,972,037
Tax on profit	9	(687,529)	(575,463)
Profit for the financial year		3,550,297	3,396,574

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 11 to 23 form part of these financial statements.

Page 8

TOMORROW'S GUIDES LIMITED

REGISTERED NUMBER: 02889550

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	10		2,594,976		2,043,009
Tangible assets	11		221,009		314,773
			2,815,985		2,357,782
Current assets
Debtors: amounts falling due within one year	12	4,395,879		3,997,506
Cash at bank and in hand	13	627,439		1,179,745
		5,023,318		5,177,251
Creditors: amounts falling due within one year	14	(6,516,632)		(6,100,394)
Net current liabilities			(1,493,314)		(923,143)
Total assets less current liabilities			1,322,671		1,434,639
Provisions for liabilities
Deferred tax	16		(650,489)		(532,754)
Net assets			672,182		901,885

Capital and reserves
Called up share capital	17	75,000	75,000
Profit and loss account		597,182	826,885
		672,182	901,885

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

W S Blackwell

Director

Date: 27 March 2025

The notes on pages 11 to 23 form part of these financial statements.

Page 9

TOMORROW'S GUIDES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	75,000	826,885	901,885

Profit for the year	-	3,550,297	3,550,297
Dividends: Equity capital	-	(3,780,000)	(3,780,000)
At 31 December 2024	75,000	597,182	672,182

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2023

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	75,000	460,311	535,311

Profit for the year	-	3,396,574	3,396,574
Dividends: Equity capital	-	(3,030,000)	(3,030,000)
At 31 December 2023	75,000	826,885	901,885

The notes on pages 11 to 23 form part of these financial statements.

Page 10

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Tomorrow's Guides Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Station Yard, Station Road, Hungerford, Berkshire, RG17 0DY.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of APFM UK Limited as at 31 December 2024 and these financial statements may be obtained from Companies House.

2.3

Going concern

The Company continues to be profitable and cash generative however at the year end has net current liabilities. The Company has prepared forecasts that show the Company is expected to remain profitable and cash generative and will have sufficient resources to meet its liabilities as they fall due. For these reasons the financial statements have been preared on a going concern basis.

2.4

Revenue

Revenue represents amounts receivable for the online publishing service net of VAT.
Revenue from contracts for the provision of services is recognised over the period of the contract on a monthly basis between the start date and end date of the contract.
The contract period is usually 12 months long and the income is deferred at the start of the contract and released in equal instalments over the period of the contract.

Page 11

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 12

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development costs

33% straight line method

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 13

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings	-	25%
Computer equipment	-	33%
Software	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Debtors

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.

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.14

Creditors

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

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Page 14

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.16

Financial instruments (continued)

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company accounting policies, the directors are required to make judgments, 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 key judgment made by the directors in preparation of the financial statements is as follows:
Capitalisation of development expenditure
The Company capitalises development expenditure if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The key judgment arises in determining if the assets will generate probable future economic benefits and the proportion of time that is related to development expenditure and not research and development activities.
The key estimate made by the directors in preparation of the financial statements is as follows:
Amortisation of intangible assets
The Company has significant levels of intangible assets from internally developed software. The key judgment in respect of these assets is the amortisation period. The directors review these amortisation periods at the end of each financial year to ensure they are still appropriate.

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TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Turnover

The whole of the turnover is attributable to the principal activity of the group.

All turnover arose within the United Kingdom.

Depreciation charge	189,425	169,082
Amortisation charge	1,411,343	1,066,562
Operating lease rentals	84,703	80,131

Fees payable to the Company's auditor for the audit of the Company's financial statements

21,100

22,000

Wages and salaries	3,753,653	3,484,669
Social security costs	624,984	568,695
Cost of defined contribution scheme	286,148	221,284
	4,664,785	4,274,648

The average monthly number of employees, including directors, during the year was 107 (2023 - 98).

Page 16

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Directors' remuneration
		2024	2023
		£	£

Directors' emoluments	239,002	212,486
Company contributions to defined contribution pension schemes	13,979	9,886
	252,981	222,372

	During the year retirement benefits were accruing to 1 directors (2023 - 1) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £239,002 (2023 - £212,486).
	The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £13,979 (2023 - £9,886).

Corporation tax
Current tax on profits for the year	569,794	451,552
Adjustments in respect of previous periods	-	(8,018)

Total current tax	569,794	443,534

Deferred tax
Origination and reversal of timing differences	117,735	131,929
Total deferred tax	117,735	131,929


	Tax on profit	687,529	575,463

Page 17

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.Taxation (continued)

Profit on ordinary activities before tax

4,237,826

3,972,037

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%)	1,059,457	934,223
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	3,596	1,948
Adjustments to tax charge in respect of prior periods	-	(8,018)
Group relief	(375,524)	(352,690)
Total tax charge for the year	687,529	575,463

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 18

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Intangible assets

		Computer software
		£
	Cost
	At 1 January 2024	5,058,230
	Additions - internal	1,963,310
	At 31 December 2024	7,021,540
	Amortisation
	At 1 January 2024	3,015,221
	Charge for the year on owned assets	1,411,343
	At 31 December 2024	4,426,564
	Net book value
	At 31 December 2024	2,594,976
	At 31 December 2023	2,043,009

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TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Computer software	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	449,274	199,732	147,199	796,205
Additions	1,832	51,029	42,800	95,661
At 31 December 2024	451,106	250,761	189,999	891,866
Depreciation
At 1 January 2024	268,645	140,821	71,966	481,432
Charge for the year on owned assets	99,220	45,677	44,528	189,425
At 31 December 2024	367,865	186,498	116,494	670,857
Net book value
At 31 December 2024	83,241	64,263	73,505	221,009
At 31 December 2023	180,629	58,911	75,233	314,773

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TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.

Debtors

					2024	2023
					£	£


Trade debtors	3,429,389	3,174,381
Amounts owed by group undertakings	730,607	695,816
Other debtors	5,013	2,910
Prepayments and accrued income	230,870	124,399
	4,395,879	3,997,506

Amounts owed by group undertakings are unsecured, repayable on demand and accrue interest at 5% per annum which is payable every 6 months.

13.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	627,439	1,179,745

14.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	180,409	119,014
Corporation tax	78,381	415,019
Other taxation and social security	618,320	542,699
Other creditors	2,520	226
Accruals and deferred income	5,637,002	5,023,436
	6,516,632	6,100,394

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TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

15.	Financial instruments
		2024	2023
		£	£

Financial assets
Financial assets measured at fair value through profit or loss	627,439	1,179,745
Financial assets measured at amortised cost	4,165,009	3,873,107
	4,792,448	5,052,852

	Financial liabilities
	Financial liabilities measured at amortised cost	801,249	661,937

Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.
Financial assets measured at amortised cost comprise trade and other debtors and amounts owed by group undertakings.
Financial liabilities measured at amortised cost comprise trade and other creditors, amounts owed to group undertakings and social security and other taxes.

16.	Deferred taxation

		2024
		£

	At beginning of year	(532,754)
	Charged to profit or loss	(117,735)
	At end of year	(650,489)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances

(650,489)

(532,754)

17.	Share capital
		2024	2023
		£	£

Authorised, allotted, called up and fully paid

75,000 (2023 - 75,000) Ordinary shares of £1.00 each	75,000	75,000

Page 22

TOMORROW'S GUIDES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

18.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £384,337 (2023: £299,186). No contributions were payable to the fund at the balance sheet date in either 2024 or 2023.

19.	Commitments under operating leases
	At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

					2024	2023
					£	£

Not later than 1 year	75,000	80,055
Later than 1 year and not later than 5 years	56,250	131,250
	131,250	211,305

20.	Related party transactions
	The Group is exempt from the disclosure of related party transactions with other 100% owned members of the group headed by Apex Super Parent, L.P.

21.	Controlling party

The ultimate controlling party is Apex Super Parent, L.P., a limited partnership incorporated in the United States of America.

The parent of the smallest group for which group accounts including Tomorrow's Guides Limited are drawn up is APFM UK Limited. Copies of these accounts are available from the registered office. The parent of the largest group for which group accounts including Tomorrow's Guides Limited are drawn up is Apex Super Parent, L.P. Copies of these accounts are not available to the public.

Page 23