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REGISTERED NUMBER: SC110339 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Learneld Limited

Learneld Limited (Registered number: SC110339)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Learneld Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr Guy M Duman





SECRETARY: Mr Guy M Duman





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC110339 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Learneld Limited (Registered number: SC110339)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 390,489 325,575

CURRENT ASSETS
Debtors 5 145,850 136,834
Cash at bank 1,627 646
147,477 137,480
CREDITORS
Amounts falling due within one year 6 6,715 6,791
NET CURRENT ASSETS 140,762 130,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,251

456,264

PROVISIONS FOR LIABILITIES 7 21,856 13,659
NET ASSETS 509,395 442,605

CAPITAL AND RESERVES
Called up share capital 8 16,002 16,002
Share premium 142,433 142,433
Fair value reserve 277,131 220,364
Retained earnings 73,829 63,806
SHAREHOLDERS' FUNDS 509,395 442,605

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

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

The director acknowledges his 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.

Learneld Limited (Registered number: SC110339)

Balance Sheet - continued
31 March 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2024 and were signed by:





Mr Guy M Duman - Director


Learneld Limited (Registered number: SC110339)

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

1. STATUTORY INFORMATION

Learneld Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment properties - not provided
Furniture and equipment - 15% on reducing balance
Computer equipment - 25% on cost

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Learneld Limited (Registered number: SC110339)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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 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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Furniture
Investment and Computer
properties equipment equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 325,000 16,549 1,357 342,906
Revaluations 65,000 - - 65,000
At 31 March 2024 390,000 16,549 1,357 407,906
DEPRECIATION
At 1 April 2023 - 15,974 1,357 17,331
Charge for year - 86 - 86
At 31 March 2024 - 16,060 1,357 17,417
NET BOOK VALUE
At 31 March 2024 390,000 489 - 390,489
At 31 March 2023 325,000 575 - 325,575

Learneld Limited (Registered number: SC110339)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Furniture
Investment and Computer
properties equipment equipment Totals
£    £    £    £   
Valuation in 2014 110,120 - - 110,120
Valuation in 2018 3,000 - - 3,000
Valuation in 2021 120,794 - - 120,794
Valuation in 2024 65,000 - - 65,000
Cost 91,086 16,549 1,357 108,992
390,000 16,549 1,357 407,906

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 91,086 91,086

Investment properties were valued on an open market basis on 31 March 2024 by an independent valuer .

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 3,150 6,834

Amounts falling due after more than one year:
Other debtors 142,700 130,000

Aggregate amounts 145,850 136,834

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 3,015 2,594
Other creditors 3,700 4,197
6,715 6,791

Learneld Limited (Registered number: SC110339)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 21,856 13,659

Deferred
tax
£   
Balance at 1 April 2023 13,659
Provided during year 8,197
Balance at 31 March 2024 21,856

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
16,002 Ordinary £1 16,002 16,002

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The overdrawn loan account was re-paid within 9 months after the year end.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Guy M Duman.