Registered number
13036592
The Online Tutor Groups Ltd
Filleted Accounts
30 November 2023
Registered number: 13036592
The Online Tutor Groups Ltd
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 507 845
Tangible assets 4 181 -
688 845
Current assets
Debtors & Prepayments 5 5,698 -
Cash at bank and in hand 815 299
6,513 299
Creditors: amounts falling due within one year 6 (20,194) (6,314)
Net current liabilities (13,681) (6,015)
Net liabilities (12,993) (5,170)
Capital and reserves
Called up share capital 1 1
Profit and loss account (12,994) (5,171)
Shareholder's funds (12,993) (5,170)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Lisa C Bentham
Director
Approved by the board on 8 April 2024
The Online Tutor Groups Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 2,347
At 30 November 2023 2,347
Amortisation
At 1 December 2022 1,502
Provided during the year 338
At 30 November 2023 1,840
Net book value
At 30 November 2023 507
At 30 November 2022 845
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 227
At 30 November 2023 227
Depreciation
Charge for the year 46
At 30 November 2023 46
Net book value
At 30 November 2023 181
5 Debtors 2023 2022
£ £
Unexpired expenditure 5,698 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Loan from Director 19,810 5,930
Accruals 384 384
20,194 6,314
7 Controlling party
The company is controlled by the dircetor who owns all the issued share capital
8 Other information
The Online Tutor Groups Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
5 Brayford Square
London
E1 0SG
24 Going concern
The major part of the company's working capital requirements are provided by a loan from the director who has indicated that she will continue to support the company; however no formal agreement is in place.
The director, having considered the above and made due enquiries, continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.
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