Silverfin false false 30/06/2023 01/07/2022 30/06/2023 G Cook 15/02/2022 G Cox 15/02/2022 M Hayes 09/08/2022 C Sloey 09/08/2022 10 November 2023 The principal activity of the company during the year was that of designing and selling software and licences to access and use online training activities. SC723196 2023-06-30 SC723196 bus:Director1 2023-06-30 SC723196 bus:Director2 2023-06-30 SC723196 bus:Director3 2023-06-30 SC723196 bus:Director4 2023-06-30 SC723196 core:CurrentFinancialInstruments 2023-06-30 SC723196 core:ShareCapital 2023-06-30 SC723196 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC723196 core:OtherResidualIntangibleAssets 2022-06-30 SC723196 2022-06-30 SC723196 core:OtherResidualIntangibleAssets 2023-06-30 SC723196 bus:OrdinaryShareClass1 2023-06-30 SC723196 bus:OrdinaryShareClass2 2023-06-30 SC723196 bus:OrdinaryShareClass3 2023-06-30 SC723196 2022-07-01 2023-06-30 SC723196 bus:FilletedAccounts 2022-07-01 2023-06-30 SC723196 bus:SmallEntities 2022-07-01 2023-06-30 SC723196 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC723196 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC723196 bus:Director1 2022-07-01 2023-06-30 SC723196 bus:Director2 2022-07-01 2023-06-30 SC723196 bus:Director3 2022-07-01 2023-06-30 SC723196 bus:Director4 2022-07-01 2023-06-30 SC723196 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-07-01 2023-06-30 SC723196 core:OtherResidualIntangibleAssets 2022-07-01 2023-06-30 SC723196 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC723196 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 SC723196 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC723196 (Scotland)

EXPERIENTIAL LEARNING TOOLS LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH THE REGISTRAR

EXPERIENTIAL LEARNING TOOLS LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023

Contents

EXPERIENTIAL LEARNING TOOLS LTD.

BALANCE SHEET

AS AT 30 JUNE 2023
EXPERIENTIAL LEARNING TOOLS LTD.

BALANCE SHEET (continued)

AS AT 30 JUNE 2023
Note 2023
£
Fixed assets
Intangible assets 3 32,667
32,667
Current assets
Debtors 4 709
Cash at bank and in hand 12,519
13,228
Creditors: amounts falling due within one year 5 ( 37,758)
Net current liabilities (24,530)
Total assets less current liabilities 8,137
Net assets 8,137
Capital and reserves
Called-up share capital 6 100
Profit and loss account 8,037
Total shareholders' funds 8,137

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Experiential Learning Tools Ltd. (registered number: SC723196) were approved and authorised for issue by the Director on 10 November 2023. They were signed on its behalf by:

G Cook
Director
EXPERIENTIAL LEARNING TOOLS LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
EXPERIENTIAL LEARNING TOOLS LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Experiential Learning Tools Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 2 Darluith Park,Brookfield, Johnstone,PA5 8DD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

Reporting period length is extended due to first year, company incorporated in February 15th 2022 Meaning period is for 21 months.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023
Number
Monthly average number of persons employed by the Company during the year, including directors 4

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 July 2022 0 0
Additions 35,000 35,000
At 30 June 2023 35,000 35,000
Accumulated amortisation
At 01 July 2022 0 0
Charge for the financial year 2,333 2,333
At 30 June 2023 2,333 2,333
Net book value
At 30 June 2023 32,667 32,667

4. Debtors

2023
£
Trade debtors 679
Other debtors 30
709

5. Creditors: amounts falling due within one year

2023
£
Taxation and social security 2,716
Other creditors 35,042
37,758

6. Called-up share capital

2023
£
Allotted, called-up and fully-paid
70 Ordinary A shares of £ 1.00 each 70
15 Ordinary B shares of £ 1.00 each 15
15 Ordinary C shares of £ 1.00 each 15
100

7. Related party transactions

Other related party transactions

2023
£
Loan from RSVP Design Limited 33,542