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Registration number: 08938247

EDUKUDU Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

EDUKUDU Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

EDUKUDU Ltd

Company Information

Director

Mr Paul Vincent Loftus

Registered office

70A
Park Gate House
Old Shoreham Road
Hove
BN3 6HJ

Accountants

ASK UK Accountancy Ltd
Airport House
Purley Way
Croydon
Surrey
CR0 0XZ

 

EDUKUDU Ltd

(Registration number: 08938247)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,697

7,900

Current assets

 

Debtors

6

106,788

73,360

Cash at bank and in hand

 

41,973

885

 

148,761

74,245

Creditors: Amounts falling due within one year

7

(593,119)

(153,051)

Net current liabilities

 

(444,358)

(78,806)

Net liabilities

 

(435,661)

(70,906)

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

(435,861)

(71,106)

Shareholders' deficit

 

(435,661)

(70,906)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

EDUKUDU Ltd

(Registration number: 08938247)
Balance Sheet as at 31 March 2024

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has not been taken.

Approved and authorised by the director on 19 August 2024
 

.........................................
Mr Paul Vincent Loftus
Director

 

EDUKUDU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
70A
Park Gate House
Old Shoreham Road
Hove
BN3 6HJ

These financial statements were authorised for issue by the director on 19 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

EDUKUDU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided at rates calculated to write off the cost less the residual value of each asset over its expected useful life as follows;

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Office equipment

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

EDUKUDU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 10).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

10,996

10,996

Additions

2,076

2,076

At 31 March 2024

13,072

13,072

Depreciation

At 1 April 2023

3,096

3,096

Charge for the year

1,279

1,279

At 31 March 2024

4,375

4,375

Carrying amount

At 31 March 2024

8,697

8,697

At 31 March 2023

7,900

7,900

5

Investments

2024
£

2023
£

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

EDUKUDU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Associates

ISA Media Ltd

0%

0%

Feruge Ltd

0%

0%

6

Debtors

Current

2024
£

2023
£

Trade debtors

64,860

45,595

Prepayments

4,147

-

Other debtors

37,781

27,765

 

106,788

73,360

 

EDUKUDU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

42,262

63,714

Trade creditors

 

36,500

73,850

Taxation and social security

 

67,677

-

Accruals and deferred income

 

439,832

-

Other creditors

 

6,848

15,487

 

593,119

153,051

Creditors: amounts falling due after more than one year

2024
£

2023
£

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

37,523

43,079

Bank overdrafts

4,739

20,635

42,262

63,714

10

Dividends

The director is recommending a final dividend of £Nil (2023 - £Nil) per share totalling £Nil (2023 - £Nil). This dividend has not been accrued in the balance sheet.

 

EDUKUDU Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions

Summary of transactions with associates

ISA Media Ltd

In the year there have been no sales/purchses with ISA Media Ltd (2023 : £NIL). The receivable balance of £21,636 has been written off in the year (2023 : £21,636).