Registered number
10586474
College Sense Ltd
Filleted Accounts
31 January 2024
College Sense Ltd
Registered number: 10586474
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investments 4 40 -
Current assets
Debtors 5 - 2,826
Cash at bank and in hand 9,019 9,093
9,019 11,919
Creditors: amounts falling due within one year 6 (30,485) (22,844)
Net current liabilities (21,466) (10,925)
Total assets less current liabilities (21,426) (10,925)
Creditors: amounts falling due after more than one year 7 (30,000) (30,000)
Net liabilities (51,426) (40,925)
Capital and reserves
Called up share capital 2 2
Profit and loss account (51,428) (40,927)
Shareholders' funds (51,426) (40,925)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O. Sahmali, Esq
Director
Approved by the board on 2 October 2024
College Sense Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Office Equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at cost less any accumulated impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 2,333
At 31 January 2024 2,333
Depreciation
At 1 February 2023 2,333
At 31 January 2024 2,333
Net book value
At 31 January 2024 -
4 Investments
Other
investments
£
Cost
Additions 40
At 31 January 2024 40
The company has a minority shareholding in Parabol Labs Ltd.
5 Debtors 2024 2023
£ £
Other debtors - 2,826
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 30,485 22,844
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 30,000 30,000
Included in creditors is £59,285 (2023: £51,464) owing to the directors, of which £30,000 (2023: £30,000) are long-term loans. The loans are interest-free and there is no fixed date of repayment. The directors have confirmed that the loans will only be repaid as and when cash flow permits.
8 Going concern
The company is dependent on the continued support of the directors to continue trading.
9 Controlling party
The company is controlled by the director who owns the entire share capital of the company.
10 Other information
College Sense Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
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