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REGISTERED NUMBER: 08893388 (England and Wales)










Financial Statements

for the Year Ended 31 May 2022

for

LSBF School Of Trading Limited

LSBF School Of Trading Limited (Registered number: 08893388)






Contents of the Financial Statements
for the Year Ended 31 May 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LSBF School Of Trading Limited

Company Information
for the Year Ended 31 May 2022







DIRECTOR: Olesya Wehlau



REGISTERED OFFICE: 30 Holborn
Buchanan House
England
EC1N 2HS



REGISTERED NUMBER: 08893388 (England and Wales)



SENIOR STATUTORY AUDITOR: Jeffrey Bor FCA



AUDITORS: SCB (Accountants) Limited
31 Sackville street
Manchester
M1 3LZ

LSBF School Of Trading Limited (Registered number: 08893388)

Balance Sheet
31 May 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Debtors 6 1,392 2,104

CREDITORS
Amounts falling due within one year 7 (32,072 ) (26,644 )
NET CURRENT LIABILITIES (30,680 ) (24,540 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(30,680

)

(24,540

)

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings (31,680 ) (25,540 )
SHAREHOLDERS' FUNDS (30,680 ) (24,540 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:





Olesya Wehlau - Director


LSBF School Of Trading Limited (Registered number: 08893388)

Notes to the Financial Statements
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

LSBF School Of Trading 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
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£).

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

1. Section 7 'Statement of Cash Flows': Presentation of a statement of cashflow and related notes and disclosures;
2. Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues': Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
3. Section 26 'Share based Payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
4. Section 33 'Related Party Disclosures': Compensation for key management
personnel.

The financial statements of the company are consolidated in the financial statements of Academic Bridge B.V., a company incorporated in the Netherlands. The consolidated financial statements are available from its registered office, Passeerdersgracht 23, 1016XG, Amsterdam, The Netherland.

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS
The company is a parent company that is also a subsidiary included in the consolidated financial statements of its immediate parent undertaking established under the law of an EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

GOING CONCERN
A letter of support has been obtained from Global University Systems Holding B.V, a group member company also wholly owned by The Heritage Trust to confirm financial support for LSBF School of Trading Limited, so that it can discharge its liabilities for at least a year from the date the financial statements are approved and ensure adequate resources to continue in operational existence for the foreseeable future. The directors have reviewed the cashflow requirements of the company for the next 12 months ended 30 November 2024 and are satisfied that the company has sufficient resources to continue trading. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.


LSBF School Of Trading Limited (Registered number: 08893388)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 profits.

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 current liabilities.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements ,when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

LSBF School Of Trading Limited (Registered number: 08893388)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

2. ACCOUNTING POLICIES - continued

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.

CLASSIFICATION OF FINANCIAL LIABILITIES
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.

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.

EQUITY INSTRUMENTS
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

FOREIGN EXCHANGE
Monetary assets and liabilities denominated in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

INVESTMENT IN SUBSIDIARIES
Investment in subsidiaries are valued at cost and and reviewed annually for impairment. Impairment is deemed necessary where the recoverable value of the investment is less than the carrying amount of the investment.

The recoverable amount is ascertained by calculating an enterprise value based on free cash flows incorporating forecast figures discounted at the weighted average cost of capital.

There is an inevitable degree of judgement involved and value will vary depending on the methodology adopted. Given the knowledge of management and the director, no expert valuation has been considered necessary.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

LSBF School Of Trading Limited (Registered number: 08893388)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

4. AUDITORS' REMUNERATION
2022 2021
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

1,750

3,550

5. FIXED ASSET INVESTMENTS

Details of the company's subsidiaries at 31 May 2022 are as follows:-


Name of undertaking
Registered
office
Nature of
business
Class of
shares held

%Held

%Held
Direct Indirect





AELT Limited
Buchanan
House, 30
Holbom,
London,
England, EC
IN 2HS




Educational
support services





ordinary





100





-




London Academy of
Trading Ltd
Buchanan
House, 30
Holbom,
London,
England,
EC1N 2HS




Educational
support services





ordinary





-





100

Impairment test have been carried out and the impairment losses of £1,025 in respect of above subsidiaries have been recognised in the other gains and losses in the profit and loss accounts for the year ended 31 May 2021.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 785 785
Other debtors 607 1,319
1,392 2,104

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors - 200
Amounts owed to group undertakings 30,322 26,444
Accruals and deferred income 1,750 -
32,072 26,644

LSBF School Of Trading Limited (Registered number: 08893388)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2022

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary shares 1 1,000 1,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to note 2 of the financial statements, which describes the going concern basis on which the accounts are prepared.The company's losses for the year totalled to £6,140 (2021: £10,221) and at the year end the company reported net liabilities of £30,680 (2021:£24,540). The company relies on the financial support of the Global University Systems Holding B.V, a group member company also wholly owned by The Heritage Trust. The directors have reviewed the cashflow requirements of the company for the next 12 months ended 30 November 2024 and are satisfied that the company has sufficient resources to continue trading. We have examined the
assumptions underlying the projections and are satisfied that those assumptions are
reasonable.Our opinion is not qualified in this respect.

Jeffrey Bor FCA (Senior Statutory Auditor)
for and on behalf of SCB (Accountants) Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in FRS 102 section 33.1a whereby it has not disclosed transactions with wholly owned subsidiary undertakings in the group.

11. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Global University Systems BV, a company incorporated in the Netherlands. The address of its registered office is Passeerdersgracht 23, 1016XG, Amsterdam, The Netherlands.

In addition to this, J Devonshire, N Page and P Osborn own 18.5%, 2% and 1% of the ordinary share capital respectively.

The smallest and largest group into which the entity is consolidated is Academic Bridge B.V, a company registered in the Netherlands. The registered address is Passeerdersgracht 23, 1016XG, Amsterdam, The Netherlands.

The ultimate controlling company is The Heritage Trust, a company registered in Guernsey.