Training Matters Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03313302 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

TRAINING MATTERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R N Challice

Mrs P M Challice

SECRETARY:

Mrs P M Challice

REGISTERED OFFICE:

Griffins Court

24-32 London Road

Newbury

Berkshire

RG14 1JX

REGISTERED NUMBER:

03313302 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Griffins Court

24-32 London Road

Newbury

Berkshire

RG14 1JX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

778

1,016

778

1,016

CURRENT ASSETS

Debtors

6

8,967

4,466

Cash at bank

10,848

22,469

19,815

26,935

CREDITORS

Amounts falling due within one year

7

16,649

24,954

NET CURRENT ASSETS

3,166

1,981

TOTAL ASSETS LESS CURRENT LIABILITIES

3,944

2,997

PROVISIONS FOR LIABILITIES

155

203

NET ASSETS

3,789

2,794

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

3,787

2,792

SHAREHOLDERS' FUNDS

3,789

2,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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 profit or loss 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 May 2017 and were signed on its behalf by:

Mrs P M Challice - Director

R N Challice - Director

1.	STATUTORY INFORMATION

Training Matters Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are presented in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates

No significant judgements or estimates have had to be made by management in preparing these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from training is recognised by reference to the

stage of completion at the balance sheet date. Stage of completion is measured by reference to the completion of the

training period.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised

that are recoverable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or

past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of

current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing

differences are differences between taxable profits and total comprehensive income as stated in the financial statements

that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are

recognised in the financial statements. 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

profit.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance

sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable

tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the

asset.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet

date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and

compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is

recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation

decrease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past

event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be

reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Short-term employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

12,000

AMORTISATION

At 1 January 2016

and 31 December 2016

12,000

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

7,830

Additions

23

At 31 December 2016

7,853

DEPRECIATION

At 1 January 2016

6,814

Charge for year

261

At 31 December 2016

7,075

NET BOOK VALUE

At 31 December 2016

778

At 31 December 2015

1,016

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade debtors

7,865

4,255

VAT

1,102

211

8,967

4,466

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade creditors

148

10,066

Taxation and social security

-

174

Other creditors

16,501

14,714

16,649

24,954

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 January 2016

2,792

Profit for the year

995

At 31 December 2016

3,787

10.	RELATED PARTY DISCLOSURES

During the year remuneration to key management totalled £10,440 (2015 - £13,050).

At the year end money owed to key management totalled £12,501 (2015 - £10,414).

11.	ULTIMATE CONTROLLING PARTY

The company is under the common control of the directors who own 100% of the called up share capital.

12.	FIRST YEAR ADOPTION

This is the first year that the Company has presented its financial statements under Financial Reporting Standard 102

Section 1A (FRS 102) issued by the Financial Reporting Council. The last financial statements prepared under the previous

UK GAAP were for the year ended 31 December 2015 and the date of transition was therefore 1 January 2015. As a

consequence of adopting FRS 102 the Directors are of the opinion that no changes need to be made upon transition to this

accounting standard as the effect of any changes are not material.