Registration number: 03638838

South West Peninsular Training Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 11

South West Peninsular Training Limited

(Registration number: 03638838)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	59,702	45,812
Current assets
Stocks	6	4,222	5,644
Debtors	7	61,059	61,589
Cash at bank and in hand		27,616	65,065
		92,897	132,298
Creditors: Amounts falling due within one year	8	(165,471)	(141,910)
Net current liabilities		(72,574)	(9,612)
Total assets less current liabilities		(12,872)	36,200
Creditors: Amounts falling due after more than one year	8	(16,366)	(8,776)
Provisions for liabilities		(4,688)	(3,488)
Net (liabilities)/assets		(33,926)	23,936
Capital and reserves
Called up share capital		2	2
Retained earnings		(33,928)	23,934
Shareholders' (deficit)/funds		(33,926)	23,936

South West Peninsular Training Limited

(Registration number: 03638838)
Balance Sheet as at 31 August 2025

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 May 2026 and signed on its behalf by:
 

Mr R H Clark Director

South West Peninsular Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH

The principal place of business is:
Unit 1
Westover Trading Estate
Langport
Somerset
TA10 9RB

These financial statements were authorised for issue by the Board on 28 May 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The directors have confirmed that they will continue to support the company for at least 12 months from the date of signing these financial statements. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

South West Peninsular Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	straight line over 20 years

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

South West Peninsular Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Property improvements	straight line over the life of the lease
Fixtures, fittings and equipment	15% to 33% straight line
Freehold land	nil
Classroom unit	15% to 20% straight line
Plant and machinery	33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

South West Peninsular Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

A dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividend was declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

South West Peninsular Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 12 (2024 - 11).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	60,000	60,000
At 31 August 2025	60,000	60,000
Amortisation
At 1 September 2024	60,000	60,000
At 31 August 2025	60,000	60,000
Carrying amount
At 31 August 2023 and 31 August 2025	-	-

5	Tangible assets

	Property improvements £	Freehold land and classroom unit  £	Furniture, fittings and equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 September 2024	189,458	31,383	54,869	198,486	474,196
Additions	-	-	31,106	1,260	32,366
Disposals	-	(1,100)	(71)	(1,230)	(2,401)
At 31 August 2025	189,458	30,283	85,904	198,516	504,161
Depreciation
At 1 September 2024	185,170	5,611	47,661	189,942	428,384
Charge for the year	3,430	1,417	7,423	5,766	18,036
Eliminated on disposal	-	(660)	(71)	(1,230)	(1,961)
At 31 August 2025	188,600	6,368	55,013	194,478	444,459
Carrying amount
At 31 August 2025	858	23,915	30,891	4,038	59,702
At 31 August 2024	4,288	25,772	7,208	8,544	45,812

South West Peninsular Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

6

Stocks

	2025 £	2024 £
Work in progress	1,267	1,267
Other inventories	2,955	4,377
	4,222	5,644

7

Debtors

	Note	2025 £	2024 £
Trade debtors		36,620	37,977
Other debtors		9,407	17,386
Prepayments		1,368	4,946
Income tax asset		13,664	1,280
		61,059	61,589

8

Creditors

Due within one year	Note	2025 £	2024 £
Bank loans and overdrafts	9	12,544	10,297
Trade creditors		29,039	11,808
Amounts due to related parties	11	1,459	-
Social security and other taxes		18,300	10,933
Other creditors		41,179	33,386
Accruals and deferred income		62,950	63,101
Corporation tax liability		-	12,385
		165,471	141,910
Due after one year
Loans and borrowings	9	16,366	8,776

South West Peninsular Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025