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REGISTERED NUMBER: 12142540 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Learning Pit Limited

Learning Pit Limited (Registered number: 12142540)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Learning Pit Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: J Nottingham
J A Nottingham





REGISTERED OFFICE: Windyridge
Scremerston
Berwick upon Tweed
Northumberland
TD15 2RJ





REGISTERED NUMBER: 12142540 (England and Wales)





ACCOUNTANTS: Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Learning Pit Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Learning Pit Limited for the year ended 31 August 2024 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Learning Pit 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 Learning Pit Limited and state those matters that we have agreed to state to the Board of Directors of Learning Pit Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Learning Pit Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Learning Pit 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 profit of Learning Pit Limited. You consider that Learning Pit 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 Learning Pit 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.






Peter Weldon & Co. Ltd
87 Station Road
Ashington
Northumberland
NE63 8RS


10 October 2024

Learning Pit Limited (Registered number: 12142540)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,669 13,369

CURRENT ASSETS
Debtors 5 12,736 6,072
Cash at bank 17,165 14,491
29,901 20,563
CREDITORS
Amounts falling due within one year 6 76,061 5,018
NET CURRENT (LIABILITIES)/ASSETS (46,160 ) 15,545
TOTAL ASSETS LESS CURRENT
LIABILITIES

(32,491

)

28,914

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (32,493 ) 28,912
(32,491 ) 28,914

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

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

The directors acknowledge their 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.

Learning Pit Limited (Registered number: 12142540)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





J A Nottingham - Director


Learning Pit Limited (Registered number: 12142540)

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

1. STATUTORY INFORMATION

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

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance per annum

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Learning Pit Limited (Registered number: 12142540)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 8,750 22,031 8,472 39,253
Additions - - 1,938 1,938
At 31 August 2024 8,750 22,031 10,410 41,191
DEPRECIATION
At 1 September 2023 - 22,031 3,853 25,884
Charge for year - - 1,638 1,638
At 31 August 2024 - 22,031 5,491 27,522
NET BOOK VALUE
At 31 August 2024 8,750 - 4,919 13,669
At 31 August 2023 8,750 - 4,619 13,369

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,854 4,064
Amounts owed by associates - 600
Directors' current accounts 2,194 -
VAT 688 1,218
Prepayments - 190
12,736 6,072

Learning Pit Limited (Registered number: 12142540)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 257 -
Amounts owed to associates 51,700 -
Tax 11,208 -
Social security and other taxes 3,703 2,536
Accruals and deferred income 8,177 -
Directors' current accounts - 2,310
Accrued expenses 1,016 172
76,061 5,018

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
J Nottingham and J A Nottingham
Balance outstanding at start of year (2,310 ) (22,458 )
Amounts advanced 4,504 20,148
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,194 (2,310 )