Registered number
05598202
The Change Management Group Limited
Filleted Accounts
31 December 2024
The Change Management Group Limited
Registered number: 05598202
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 17,034 24,115
Investments 5 5,210 5,210
22,244 29,325
Current assets
Debtors 6 3,664,508 4,281,594
Cash at bank and in hand 1,406,828 1,644,283
5,071,336 5,925,877
Creditors: amounts falling due within one year 7 (900,293) (1,634,088)
Net current assets 4,171,043 4,291,789
Net assets 4,193,287 4,321,114
Capital and reserves
Called up share capital 259,173 259,173
Share premium 21,038 21,038
Revaluation reserve 8 35,637 35,637
Profit and loss account 3,877,439 4,005,266
Shareholders' funds 4,193,287 4,321,114
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Julia Cook
Director
Approved by the board on 29 September 2025
The Change Management Group Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% straight line
Fixtures, fittings and office equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Taxation 2024 2023
£ £
Corporation tax
Current tax on profits for the year 123,913 504,243
Prior year tax - -
Double taxation relief (123,913) (224,378)
- 279,865
Foreign tax
Foreign tax on income for the year 123,913 224,378
123,913 504,243
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 27 30
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 100,525
Additions 4,301
At 31 December 2024 104,826
Depreciation
At 1 January 2024 76,410
Charge for the year 11,382
At 31 December 2024 87,792
Net book value
At 31 December 2024 17,034
At 31 December 2023 24,115
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 5,210
At 31 December 2024 5,210
Subsidiary undertakings
The following were subsidiary undertakings of the company:
Name Country of incorporation Class of shares Holding Principal activity
CMG Acorn Limited England and Wales Ordinary 100% Dormant
CMG Digital Limited England and Wales Ordinary 100% Dormant
Change Management Group Middle East FZE United Arab Emirates Ordinary 100% Management consultancy
The aggregate of the share capital and reserves as at 31 December 2024 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
2024 2023
Aggregate of share capital and reserves Profit/ (loss) Aggregate of share capital and reserves Profit/ (loss)
£ £ £ £
CMG Acorn Limited 2 - 2 -
CMG Digital Limited 2 - 2 -
Change Management Group Middle East FZE (462,519) (36,562) (406,449) 49,427
6 Debtors 2024 2023
£ £
Trade debtors 2,540,863 3,246,375
Amounts owed by group undertakings and undertakings in which the company has a participating interest 604,467 404,925
Other debtors 192,353 94,683
Prepayments and accrued income 326,825 535,611
3,664,508 4,281,594
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 154,579 446,818
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2 2
Taxation and social security costs 270,087 629,070
Other creditors 23,089 48,288
Accruals and deferred income 452,536 509,910
900,293 1,634,088
8 Revaluation reserve 2024 2023
£ £
At 1 January 2024 35,637 35,637
At 31 December 2024 35,637 35,637
9 Related party transactions
During the year £169,972 (2023: £8,078) was payable to and £94,430 (2023: £40,095) was receivable from Change Management LP, a Limited Partnership in which Mrs Julia Cook is interested for consulting services.
At the reporting date the amount due from Change Management LP was £432,915 (2023: £508,457).
10 Controlling party
The ultimate controlling party is Ms Julia Harmon Cook by virtue of her holding 91% of shares in the company.
11 Other information
The Change Management Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Masons Yard
London
SW1Y 6BU
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