Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseis that of the design, manufacture and distribution of furniture and space planning.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22truetruefalse 10995541 2023-01-01 2023-12-31 10995541 2022-01-01 2022-12-31 10995541 2023-12-31 10995541 2022-12-31 10995541 2022-01-01 10995541 c:Director1 2023-01-01 2023-12-31 10995541 d:PlantMachinery 2023-01-01 2023-12-31 10995541 d:PlantMachinery 2023-12-31 10995541 d:PlantMachinery 2022-12-31 10995541 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10995541 d:FurnitureFittings 2023-01-01 2023-12-31 10995541 d:FurnitureFittings 2023-12-31 10995541 d:FurnitureFittings 2022-12-31 10995541 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10995541 d:OfficeEquipment 2023-01-01 2023-12-31 10995541 d:OfficeEquipment 2023-12-31 10995541 d:OfficeEquipment 2022-12-31 10995541 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10995541 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10995541 d:CurrentFinancialInstruments 2023-12-31 10995541 d:CurrentFinancialInstruments 2022-12-31 10995541 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10995541 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10995541 d:ShareCapital 2023-12-31 10995541 d:ShareCapital 2022-12-31 10995541 d:RetainedEarningsAccumulatedLosses 2023-12-31 10995541 d:RetainedEarningsAccumulatedLosses 2022-12-31 10995541 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10995541 c:OrdinaryShareClass1 2023-12-31 10995541 c:OrdinaryShareClass1 2022-12-31 10995541 c:FRS102 2023-01-01 2023-12-31 10995541 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10995541 c:FullAccounts 2023-01-01 2023-12-31 10995541 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10995541 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 10995541 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 10995541 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10995541









LEARNITURE LTD








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LEARNITURE LTD
REGISTERED NUMBER: 10995541

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,214
4,408

  
2,214
4,408

Current assets
  

Stocks
  
42,263
48,879

Debtors: amounts falling due within one year
 5 
10,729
4,845

Cash at bank and in hand
  
15,931
31,303

  
68,923
85,027

Creditors: amounts falling due within one year
 6 
(40,346)
(59,965)

Net current assets
  
 
 
28,577
 
 
25,062

Total assets less current liabilities
  
30,791
29,470

Provisions for liabilities
  

Deferred tax
 7 
(420)
(838)

  
 
 
(420)
 
 
(838)

Net assets
  
30,371
28,632


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
29,371
27,632

  
30,371
28,632


Page 1

 
LEARNITURE LTD
REGISTERED NUMBER: 10995541
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 July 2024.




James Thomas Clarke
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LEARNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a members limited liability company registered in England and Wales. The company's
registered office is Stanley House, 27 Wellington Road, Bilston, West Midlands WV14 6AH. The principal activity of the company is that of the design, manufacture and distribution of furniture and space planning.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
LEARNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
LEARNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
3 or 4 years
Fixtures and fittings
-
4 years
Office equipment
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
LEARNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
LEARNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
7,632
3,090
8,736
19,458


Disposals
(4,000)
-
-
(4,000)



At 31 December 2023

3,632
3,090
8,736
15,458



Depreciation


At 1 January 2023
6,135
3,090
5,825
15,050


Charge for the year on owned assets
904
-
1,290
2,194


Disposals
(4,000)
-
-
(4,000)



At 31 December 2023

3,039
3,090
7,115
13,244



Net book value



At 31 December 2023
593
-
1,621
2,214



At 31 December 2022
1,497
-
2,911
4,408


5.


Debtors

2023
2022
£
£


Trade debtors
8,850
2,871

Amounts owed by group undertakings
1,554
-

Prepayments and accrued income
325
1,974

10,729
4,845


Page 7

 
LEARNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
16,288
11,773

Amounts owed to group undertakings
-
18,646

Corporation tax
832
-

Other taxation and social security
18,782
18,073

Other creditors
480
449

Accruals and deferred income
3,964
11,024

40,346
59,965



7.


Deferred taxation




2023
2022


£

£






At beginning of year
838
782


Charged to the profit or loss
(418)
56



At end of year
420
838

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
420
838

420
838


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 8

 
LEARNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Controlling party

The parent company is Spaceoasis Limited, a company incorporated in England and Wales.
 


 
Page 9