SSG Training & Consultancy Limited - Period Ending 2017-06-30

SSG Training & Consultancy Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 June 2017

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

Directors

Mr M Salmon Dr M Cash

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 2017

	Note	2017 £	2016 £
Fixed assets
Intangible assets	4	1	6,402
Tangible assets	5	84,951	102,235
		84,952	108,637
Current assets
Stocks	6	25,000	20,000
Debtors	7	662,507	671,607
Cash at bank and in hand		581,568	783,694
		1,269,075	1,475,301
Creditors: Amounts falling due within one year	8	(550,038)	(531,305)
Net current assets		719,037	943,996
Total assets less current liabilities		803,989	1,052,633
Provisions for liabilities		(6,340)	(7,067)
Net assets		797,649	1,045,566
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		770,569	1,018,486
Total equity		797,649	1,045,566

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 2017

For the financial year ending 30 June 2017 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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.

Approved and authorised by the Board on 7 February 2018 and signed on its behalf by:
 

.........................................

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 2017

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 Board on 7 February 2018.

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.

Change in basis of accounting

The company’s financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 1 July 2015. There is no material impact on the reported financial position and financial performance as a result of this transition.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Page 4

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2017

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.

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 2017

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 directors) during the year, was 43 (2016 - 43).

Page 6

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2017

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 July 2016	71,057	71,057
At 30 June 2017	71,057	71,057
Amortisation
At 1 July 2016	64,655	64,655
Amortisation charge	6,401	6,401
At 30 June 2017	71,056	71,056
Carrying amount
At 30 June 2017	1	1
At 30 June 2016	6,402	6,402

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 July 2016	21,518	158,581	58,489	34,604	273,192
Additions	1,348	11,861	-	9,371	22,580
At 30 June 2017	22,866	170,442	58,489	43,975	295,772
Depreciation
At 1 July 2016	9,354	119,671	24,318	17,614	170,957
Charge for the year	3,595	18,975	9,744	7,550	39,864
At 30 June 2017	12,949	138,646	34,062	25,164	210,821
Carrying amount
At 30 June 2017	9,917	31,796	24,427	18,811	84,951
At 30 June 2016	12,164	38,910	34,171	16,990	102,235

Included within the net book value of land and buildings above is £9,917 (2016 - £12,164) in respect of short leasehold land and buildings.
 

Page 7

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2017

6

Stocks

	2017 £	2016 £
Other inventories	25,000	20,000

7

Debtors

	2017  £	2016  £
Trade debtors	368,177	381,199
Other debtors	285,992	285,511
Prepayments	8,338	4,897
	662,507	671,607

8

Creditors

	Note	2017  £	2016  £
Due within one year
Trade creditors		43,090	69,299
Social security and other taxes		127,889	132,741
Other creditors		10,300	10,400
Accrued expenses		278,385	251,248
Corporation tax		90,374	67,617
		550,038	531,305

9	Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the balance sheet is £214,824 (2016 - £260,375).

Page 8

SSG Training & Consultancy Limited

Notes to the Financial Statements

Year Ended 30 June 2017

10	Related party transactions

Advances to directors

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

2016

At 1 July 2015 £

Advances to director £

Repayments by director £

At 30 June 2016 £

11	Transition to FRS 102

The company transitioned to FRS 102 from previously extant UK GAAP as at 1 July 2015.

There were no changes to the previously stated equity as at 1 July 2015 and 30 June 2016 or in the profit for the year ended 30 June 2016 as a result of the transition to FRS102.

Page 9