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Company registration number: 11227458







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


TLE AT EAST FINCHLEY UK LIMITED






































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TLE AT EAST FINCHLEY UK LIMITED
 


 
COMPANY INFORMATION


Directors
R Weissman 
S Levine 
B Alexander (resigned 4 October 2023)
S Paine 




Registered number
11227458



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


TLE AT EAST FINCHLEY UK LIMITED
 



CONTENTS



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6


 


TLE AT EAST FINCHLEY UK LIMITED
REGISTERED NUMBER:11227458



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
2,653,741
2,901,757

  
2,653,741
2,901,757

Current assets
  

Debtors: amounts falling due within one year
 5 
145,669
100,214

Cash at bank and in hand
 6 
69,584
34,999

  
215,253
135,213

Creditors: amounts falling due within one year
 7 
(408,578)
(539,218)

Net current liabilities
  
 
 
(193,325)
 
 
(404,005)

Total assets less current liabilities
  
2,460,416
2,497,752

  

Net assets
  
2,460,416
2,497,752


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,460,316
2,497,652

  
2,460,416
2,497,752


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Levine
Director

Date: 4 April 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 


TLE AT EAST FINCHLEY UK LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
100
2,888,254
2,888,354


Comprehensive income for the year

Loss for the year
-
(390,602)
(390,602)


Contributions by and distributions to owners



At 1 January 2023
100
2,497,652
2,497,752


Comprehensive income for the year

Loss for the year
-
(37,336)
(37,336)


At 31 December 2023
100
2,460,316
2,460,416


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


TLE AT EAST FINCHLEY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

TLE at East Finchley UK Limited is a private company, limited by shares, incorporated in England in Wales under the Companies Act 2006. The address of the registered office is disclosed on the company information page and the principal place of business is 250 East End Road, East Finchley, London, N2 8AU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has full support from its parent company, The Learning Experience Corporation, enabling the company to meet its liabilities as they full due.
The Learning Experience Corporation has indicated its intention to provide funding support without restriction for a period of at least 12 months from the approval of these financial statements. The Directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


TLE AT EAST FINCHLEY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over the life of the lease
Fixtures and fittings
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 38 (2022 - 22).

Page 4

 


TLE AT EAST FINCHLEY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
3,343,896
109,866
3,453,762


Additions
9,150
4,645
13,795



At 31 December 2023

3,353,046
114,511
3,467,557



Depreciation


At 1 January 2023
523,107
28,898
552,005


Charge for the year on owned assets
239,103
22,708
261,811



At 31 December 2023

762,210
51,606
813,816



Net book value



At 31 December 2023
2,590,836
62,905
2,653,741



At 31 December 2022
2,820,789
80,968
2,901,757


5.


Debtors

2023
2022
£
£


Trade debtors
10,503
4,531

Amounts owed by group undertakings
24,768
-

Other debtors
491
-

Prepayments and accrued income
109,907
95,683

145,669
100,214



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
69,584
34,999

69,584
34,999


Page 5

 


TLE AT EAST FINCHLEY UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
62,568
7,108

Amounts owed to group undertakings
271,384
406,059

Other taxation and social security
-
4,423

Accruals and deferred income
74,626
121,628

408,578
539,218



8.


Parent company

The parent of the smallest group for which consolidated financial statements are drawn up is The Learning Experience Systems UK Limited. The address of their registered office is: Lynton House, 7-12 Tavistock Square, London WC1H 9LT.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 4 April 2024 by Sarah Hallam FCCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 6