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Registration number: 11677171

Studentinvest UK Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Studentinvest UK Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Studentinvest UK Ltd

Company Information

Directors

Mr Ken Teoh

Mr Berry Robert Christoffer Christensson Tellman

Registered office

102 Fulham Palace Road
London
W6 9PL

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Studentinvest UK Ltd

(Registration number: 11677171)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

3,714

6,910

Tangible assets

5

3,391,287

3,463,634

 

3,395,001

3,470,544

Current assets

 

Debtors

6

60,331

60,153

Cash at bank and in hand

 

589,466

3,112

 

649,797

63,265

Creditors: Amounts falling due within one year

7

(721,452)

(394,451)

Net current liabilities

 

(71,655)

(331,186)

Total assets less current liabilities

 

3,323,346

3,139,358

Creditors: Amounts falling due after more than one year

7

(3,304,999)

(2,857,348)

Provisions for liabilities

(151,661)

(112,655)

Net (liabilities)/assets

 

(133,314)

169,355

Capital and reserves

 

Called up share capital

8

1

1

Other reserves

444,693

480,268

Retained earnings

(578,008)

(310,914)

Shareholders' (deficit)/funds

 

(133,314)

169,355

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Studentinvest UK Ltd

(Registration number: 11677171)
Balance Sheet as at 31 August 2023

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Mr Ken Teoh
Director

 

Studentinvest UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

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

The address of its registered office is:
102 Fulham Palace Road
London
W6 9PL
England

These financial statements were authorised for issue by the Board on 30 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.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Studentinvest UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold improvements

18 years straight line

Furniture & fittings

5 years straight line

Equipment

5 years straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

5 years straight line

 

Studentinvest UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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 debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

 

Studentinvest UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Intangible assets

Intangible asset
 £

Total
£

Cost or valuation

At 1 September 2022

15,977

15,977

At 31 August 2023

15,977

15,977

Amortisation

At 1 September 2022

9,067

9,067

Amortisation charge

3,196

3,196

At 31 August 2023

12,263

12,263

Carrying amount

At 31 August 2023

3,714

3,714

At 31 August 2022

6,910

6,910

 

Studentinvest UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Tangible assets

Land and buildings
£

Leasehold improvements
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 September 2022

2,426,341

1,213,700

24,783

3,664,824

At 31 August 2023

2,426,341

1,213,700

24,783

3,664,824

Depreciation

At 1 September 2022

-

190,041

11,149

201,190

Charge for the year

-

67,427

4,920

72,347

At 31 August 2023

-

257,468

16,069

273,537

Carrying amount

At 31 August 2023

2,426,341

956,232

8,714

3,391,287

At 31 August 2022

2,426,341

1,023,659

13,634

3,463,634

The historical cost of land and buildings as at 31 August 2023 is £1,833,418 (2022- £1,833,418).

6

Debtors

2023
£

2022
£

Trade debtors

10,350

7,968

Other debtors

46,072

49,653

Prepayments

3,909

2,532

60,331

60,153

 

Studentinvest UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

-

8,767

Trade creditors

 

14,152

23,163

Taxation and social security

 

-

2,250

Accruals and deferred income

 

3,072

784

Other creditors

 

704,228

359,487

 

721,452

394,451

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

2,100,000

1,652,349

Other non-current financial liabilities

 

1,204,999

1,204,999

 

3,304,999

2,857,348

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         
 

Studentinvest UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,100,000

1,652,349

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

8,767

10

Related party transactions

Transactions with directors

2023

At 1 September 2022
£

Repayments by director
£

At 31 August 2023
£

Mr Ken Teoh

Amounts owed to director

166,247

4,620

170,868

       
     

Mr Berry Robert Christoffer Christensson Tellman

Amounts owed to director

167,910

4,120

172,030

       
     

 

2022

At 1 September 2021
£

Repayments by director
£

At 31 August 2022
£

Mr Ken Teoh

Amounts owed to director

159,954

6,294

166,247

       
     

Mr Berry Robert Christoffer Christensson Tellman

Amounts owed to director

161,616

6,294

167,910