IRIS Accounts Production v23.4.0.336 11758631 director 1.1.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117586312022-12-31117586312024-01-31117586312023-01-012024-01-31117586312021-12-31117586312022-01-012022-12-31117586312022-12-3111758631ns15:EnglandWales2023-01-012024-01-3111758631ns14:PoundSterling2023-01-012024-01-3111758631ns10:Director12023-01-012024-01-3111758631ns10:PrivateLimitedCompanyLtd2023-01-012024-01-3111758631ns10:SmallEntities2023-01-012024-01-3111758631ns10:AuditExempt-NoAccountantsReport2023-01-012024-01-3111758631ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012024-01-3111758631ns10:SmallCompaniesRegimeForAccounts2023-01-012024-01-3111758631ns10:FullAccounts2023-01-012024-01-311175863112023-01-012024-01-3111758631ns10:RegisteredOffice2023-01-012024-01-3111758631ns5:CurrentFinancialInstruments2024-01-3111758631ns5:CurrentFinancialInstruments2022-12-3111758631ns5:ShareCapital2024-01-3111758631ns5:ShareCapital2022-12-3111758631ns5:RetainedEarningsAccumulatedLosses2024-01-3111758631ns5:RetainedEarningsAccumulatedLosses2022-12-3111758631ns5:IntangibleAssetsOtherThanGoodwill2023-01-012024-01-3111758631ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012024-01-3111758631ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012024-01-3111758631ns5:ComputerEquipment2023-01-012024-01-3111758631ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3111758631ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3111758631ns5:PatentsTrademarksLicencesConcessionsSimilar2024-01-3111758631ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-01-3111758631ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3111758631ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3111758631ns5:ComputerEquipment2022-12-3111758631ns5:ComputerEquipment2024-01-3111758631ns5:ComputerEquipment2022-12-3111758631ns5:OtherRelatedParties2022-12-3111758631ns5:OtherRelatedParties2023-01-012024-01-3111758631ns5:OtherRelatedParties2024-01-3111758631ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3111758631ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 11758631 (England and Wales)









THE STUDENT PROMISE LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 31 JANUARY 2024






THE STUDENT PROMISE LTD. (REGISTERED NUMBER: 11758631)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE STUDENT PROMISE LTD.

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 31 JANUARY 2024







DIRECTOR: Ms E Heymans





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 11758631 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

THE STUDENT PROMISE LTD. (REGISTERED NUMBER: 11758631)

BALANCE SHEET
31 JANUARY 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 212,663
Tangible assets 5 - 5,670
Investments 6 - 41,800
- 260,133

CURRENT ASSETS
Debtors 7 17,203 29,775
Cash at bank 275 25,776
17,478 55,551
CREDITORS
Amounts falling due within one year 8 124,454 1,723,949
NET CURRENT LIABILITIES (106,976 ) (1,668,398 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(106,976

)

(1,408,265

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (106,977 ) (1,408,266 )
SHAREHOLDERS' FUNDS (106,976 ) (1,408,265 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 15 February 2024 and were signed by:



Ms E Heymans - Director


THE STUDENT PROMISE LTD. (REGISTERED NUMBER: 11758631)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 JANUARY 2024

1. STATUTORY INFORMATION

The Student Promise Ltd. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Trademark costs are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

THE STUDENT PROMISE LTD. (REGISTERED NUMBER: 11758631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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 period 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.

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.

Going concern
For the period ended 31 January 2024 the balance sheet shows net current liabilities of £106,976 (2022 : £1,408,265), The directors have considered the current trading position and subsequently transferred the trade of the company to another entity therefore the directors do not consider the going concern basis to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Trademark Development
costs costs Totals
£    £    £   
COST
At 1 January 2023 9,203 263,682 272,885
Disposals (9,203 ) (263,682 ) (272,885 )
At 31 January 2024 - - -
AMORTISATION
At 1 January 2023 - 60,222 60,222
Eliminated on disposal - (60,222 ) (60,222 )
At 31 January 2024 - - -
NET BOOK VALUE
At 31 January 2024 - - -
At 31 December 2022 9,203 203,460 212,663

THE STUDENT PROMISE LTD. (REGISTERED NUMBER: 11758631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 10,499
Disposals (10,499 )
At 31 January 2024 -
DEPRECIATION
At 1 January 2023 4,829
Eliminated on disposal (4,829 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 December 2022 5,670

6. FIXED ASSET INVESTMENTS
Loans to
other
participating
interests
£   
At 1 January 2023 41,800
Repayment in year (41,800 )
At 31 January 2024 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Other debtors 17,203 29,775

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 51 -
Trade creditors 64,150 125,249
Amounts owed to associates 26,965 1,517,462
Taxation and social security 24,099 24,099
Other creditors 9,189 57,139
124,454 1,723,949