SSG Training & Consultancy Limited - Period Ending 2018-06-30

SSG Training & Consultancy Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 June 2018

Registration number: 03564008

SSG Training & Consultancy Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

SSG Training & Consultancy Limited

Company Information

Director

Mr M Salmon

Company secretary

Mrs S Salmon

Registered office

Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF

Accountants

Francis Clark LLP Sigma House Oak View Close Edginswell Torquay Devon TQ2 7FF

Page 1

SSG Training & Consultancy Limited

Balance Sheet

30 June 2018

	Note	2018 £	2017 £
Fixed assets
Intangible assets	4	-	1
Tangible assets	5	77,168	84,951
		77,168	84,952
Current assets
Stocks	6	25,000	25,000
Debtors	7	698,002	662,507
Cash at bank and in hand		759,602	581,568
		1,482,604	1,269,075
Creditors: Amounts falling due within one year	8	(608,397)	(550,038)
Net current assets		874,207	719,037
Total assets less current liabilities		951,375	803,989
Provisions for liabilities		(6,969)	(6,340)
Net assets		944,406	797,649
Capital and reserves
Called up share capital		60	60
Share premium reserve		26,980	26,980
Capital redemption reserve		40	40
Profit and loss account		917,326	770,569
Total equity		944,406	797,649

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

SSG Training & Consultancy Limited

Balance Sheet

30 June 2018

For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 3 March 2019
 

......................................... Mr M Salmon Director

Company Registration Number: 03564008

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2018

1	General information

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

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

The principal place of business is:
Valley House
Valley Road
Plympton
Plymouth
Devon
PL7 1RF

These financial statements were authorised for issue by the director on 3 March 2019.

2	Accounting policies

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.

Statement of compliance

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 Section 1A, and the Companies Act 2006. There are no material departures from FRS102.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax. The company recognises revenue based on its value of the service provided to date.

Tax

The current corporation 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.

Page 4

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2018

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

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
Leasehold Property	Over 5 years
Training Equipment	3 to 6 years
Furniture & Fixtures	5 to 6 years
Motor Vehicles	6 years
Office Equipment	3 to 6 years

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	Over 5 years

Stocks

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

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.

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.

Page 5

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2018

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 48 (2017 - 43).

Page 6

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2018

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 July 2017	71,057	71,057
At 30 June 2018	71,057	71,057
Amortisation
At 1 July 2017	71,056	71,056
Amortisation charge	1	1
At 30 June 2018	71,057	71,057
Carrying amount
At 30 June 2018	-	-
At 30 June 2017	1	1

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 July 2017	22,866	170,442	58,489	43,975	295,772
Additions	6,195	31,470	-	3,462	41,127
Disposals	-	-	(14,500)	-	(14,500)
At 30 June 2018	29,061	201,912	43,989	47,437	322,399
Depreciation
At 1 July 2017	12,949	138,646	34,062	25,164	210,821
Charge for the year	4,717	22,214	7,328	7,399	41,658
Eliminated on disposal	-	-	(7,248)	-	(7,248)
At 30 June 2018	17,666	160,860	34,142	32,563	245,231
Carrying amount
At 30 June 2018	11,395	41,052	9,847	14,874	77,168
At 30 June 2017	9,917	31,796	24,427	18,811	84,951

Page 7

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2018

Included within the net book value of land and buildings above is £11,395 (2017 - £9,917) in respect of short leasehold land and buildings.
 

6

Stocks

	2018 £	2017 £
Other inventories	25,000	25,000

7

Debtors

	2018  £	2017  £
Trade debtors	406,753	368,177
Other debtors	285,107	285,992
Prepayments	6,142	8,338
	698,002	662,507

8

Creditors

Creditors: amounts falling due within one year

	2018  £	2017  £
Due within one year
Trade creditors	49,888	43,090
Corporation tax	96,566	90,374
Social security and other taxes	142,833	127,889
Other creditors	14,336	10,300
Accrued expenses	304,774	278,385
	608,397	550,038

9	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary of £1 each	60	60	60	60

Page 8

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2018

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £152,753 (2017 - £214,824).

11	Related party transactions

Advances to directors

2018	At 1 July 2017 £	Advances to director £	Repayments by director £	At 30 June 2018 £
The Director
Total amount advanced during the year	586	-	(586)	-

2017	At 1 July 2016 £	Advances to director £	Repayments by director £	At 30 June 2017 £
The Director
Total amount advanced during the year	-	586	-	586

Page 9