Registered number
03560812
Courseband Limited
Unaudited Filleted Accounts
31 May 2024
Courseband Limited
Registered number: 03560812
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,874,940 7,395,776
Investments 4 113,309 300
8,988,249 7,396,076
Current assets
Debtors 5 2,293,187 2,584,784
Cash at bank and in hand 45,707 25,782
2,338,894 2,610,566
Creditors: amounts falling due within one year 6 (6,259,487) (6,442,321)
Net current liabilities (3,920,593) (3,831,755)
Total assets less current liabilities 5,067,656 3,564,321
Creditors: amounts falling due after more than one year 7 (1,050,789) (1,098,767)
Provisions for liabilities (335,136) -
Net assets 3,681,731 2,465,554
Capital and reserves
Called up share capital 100 100
Revaluation reserve 9 235,347 (1,243,817)
Profit and loss account 3,446,284 3,709,271
Shareholder's funds 3,681,731 2,465,554
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 member has 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 financial statements.
The financial statements 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.
The financial statements were approved and authorised for issue by the board on:
Nick Nicholas
Director
Signed on behalf of the board on 23 October 2024
Courseband Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
Courseband Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements. The trading address is the same.

The financial statements are presented in sterling which is the functional currency of the company and are not rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 represents the net value of the rent received as per rental agreements.
Investment properties
Investment properties are stated at their open market valuations which according to the directors reflect the fair value at the reporting date. Changes to the fair value of the property at each reporting date are recognised in the profit and loss account.
No depreciation is provided in respect of freehold properties which are classified as investment properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held to earn rentals or for capital appreciation and the directors consider that to depreciate them would not give a true and fair view.

In the opinion of directors' the adoption if this policy has no material impact on result of the year.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 7,395,776 - - 7,395,776
Surplus on revaluation 1,479,164 - - 1,479,164
Reversed devaluation -
At 31 May 2024 8,874,940 - - 8,874,940
Depreciation
At 31 May 2024 - - - -
Net book value
At 31 May 2024 8,874,940 - - 8,874,940
At 31 May 2023 7,395,776 - - 7,395,776
Freehold land and buildings: 2024 2023
£ £
Historical cost 8,639,592 8,639,592
Cumulative depreciation based on historical cost - -
8,639,592 8,639,592
The investment properties were valued by the directors and the amount shown reflects their open market value at the year end.
4 Investments
Other
investments
£
Cost
At 1 June 2023 300
Additions 113,009
At 31 May 2024 113,309
Historical cost
At 31 May 2024 113,309
5 Debtors 2024 2023
£ £
Other debtors 2,293,187 2,584,784
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 90,518 73,796
Taxation and social security costs 22,009 96,381
Accruals 6,250 5,000
Other creditors 6,140,710 6,267,144
6,259,487 6,442,321
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,050,789 1,098,767
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 689,840 803,583
Secured bank loans 1,141,307 1,172,563
The loans are secured by a legal charge on the fixed assets land and buildings and by personal quarantees.
9 Non distributable reserve 2024 2023
£ £
At 1 June 2023 (1,243,817) (1,243,817)
Gain on revaluation of land and buildings 1,479,164 -
At 31 May 2024 235,347 (1,243,817)
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
6,042,291 359,739 1,500 5,684,052
6,042,291 359,739 1,500 5,684,052
11 Related party transactions
B/fwd Advanced Repaid C/fwd
Loan 1 78,891 20,000 - 98,891
Loan 2 533,563 - 533,563 -
Loan 3 57,586 - - 57,586
Loan 4 31,355 - - 31,355
Loan 5 19,000 - - 19,000
Loan 6 155,879 - 155,879 -
Loan 7 - 100,000 - 100,000
Loan 8 - 355,182 - 355,182
Loan 9 1,555,784 72,839 151,224 1,477,399
Loan 10 72,188 - 72,188 -
Loan 11 (137,000) - (40,000) (97,000)
Loan 12 (37,500) (72,500) - (110,000)
Loan 13 (30,000) - - (30,000)
2,299,746 475,521 872,854 1,902,413
Terms:
Loan 8 has 5% accrued interest per annum and repayable on 27 March 2026.
Loan 9 has 5% accrued interest per annum repayable earlier upon written demand or 5 May 2025.
All other loans are interest free and repayable upon demand.
12 Controlling party
The ultimate controlling party is Anna Ogwuma.
13 Other information
Courseband Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor
10-12 Bourlet Close
London
W1W 7BR
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