Company registration number 12999972 (England and Wales)
EDU365 SOFTWARE DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
EDU365 SOFTWARE DEVELOPMENTS LIMITED
COMPANY INFORMATION
Director
Mr S R Mason
Company number
12999972
Registered office
128 City Road
London
EC1V 2NX
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
2 Hagley Road
Halesowen
West Midlands
B63 4RQ
EDU365 SOFTWARE DEVELOPMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
EDU365 SOFTWARE DEVELOPMENTS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EDU365 SOFTWARE DEVELOPMENTS LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EDU365 Software Developments Limited for the year ended 30 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of EDU365 Software Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of EDU365 Software Developments Limited and state those matters that we have agreed to state to the board of directors of EDU365 Software Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EDU365 Software Developments Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that EDU365 Software Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of EDU365 Software Developments Limited. You consider that EDU365 Software Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of EDU365 Software Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
29 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
EDU365 SOFTWARE DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,681
8,910
Current assets
Debtors
4
12,167
9,432
Cash at bank and in hand
-
0
127
12,167
9,559
Creditors: amounts falling due within one year
5
(19,054)
(15,690)
Net current liabilities
(6,887)
(6,131)
Total assets less current liabilities
(206)
2,779
Provisions for liabilities
7
(1,269)
(1,693)
Net (liabilities)/assets
(1,475)
1,086
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(1,575)
986
Total equity
(1,475)
1,086

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 29 August 2024
Mr S R Mason
Director
Company registration number 12999972 (England and Wales)
EDU365 SOFTWARE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

EDU365 Software Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 128 City Road, London, EC1V 2NX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance
Computer equipment
25% on reducing balance
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

EDU365 SOFTWARE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
2,006
11,874
13,880
Depreciation and impairment
At 1 December 2022
878
4,092
4,970
Depreciation charged in the year
282
1,947
2,229
At 30 November 2023
1,160
6,039
7,199
Carrying amount
At 30 November 2023
846
5,835
6,681
At 30 November 2022
1,128
7,782
8,910
EDU365 SOFTWARE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,347
6,432
Other debtors
9,820
3,000
12,167
9,432
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
782
69
Trade creditors
330
3,407
Taxation and social security
15,739
10,447
Other creditors
2,203
1,767
19,054
15,690
6
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank overdrafts
782
69
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
1,269
1,693
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
EDU365 SOFTWARE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan account
-
-
9,820
9,820
-
9,820
9,820

The director's loan account was repaid within nine months of the year end.

10
Ultimate controlling party

The ultimate controlling party is Mr S R Mason.

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