Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investments | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Provisions for liabilities | ( |
- | |||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Revaluation reserve | 9 | ( |
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Profit and loss account | |||||||
Shareholder's funds | |||||||
The financial statements were approved and authorised for issue by the board on: | |||||||
Nick Nicholas | |||||||
Director | |||||||
Signed on behalf of the board on |
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Notes to the Accounts | |||||||||||||||
for the year ended |
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1 | Accounting policies | ||||||||||||||
Basis of preparation | |||||||||||||||
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). |
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Turnover | |||||||||||||||
Investment properties | |||||||||||||||
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. |
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Debtors | |||||||||||||||
Creditors | |||||||||||||||
Taxation | |||||||||||||||
2 | Employees | 2024 | 2023 | ||||||||||||
Number | Number | ||||||||||||||
Average number of persons employed by the company | |||||||||||||||
3 | Tangible fixed assets | ||||||||||||||
Land and buildings | Plant and machinery etc | Motor vehicles | Total | ||||||||||||
£ | £ | £ | £ | ||||||||||||
Cost | |||||||||||||||
At 1 June 2023 | - | - | |||||||||||||
Surplus on revaluation | - | - | |||||||||||||
Reversed devaluation | - | ||||||||||||||
At 31 May 2024 | - | - | |||||||||||||
Depreciation | |||||||||||||||
At 31 May 2024 | - | - | - | - | |||||||||||
Net book value | |||||||||||||||
At 31 May 2024 | - | - | |||||||||||||
At 31 May 2023 | - | - | |||||||||||||
Freehold land and buildings: | 2024 | 2023 | |||||||||||||
£ | £ | ||||||||||||||
Historical cost | 8,639,592 | 8,639,592 | |||||||||||||
Cumulative depreciation based on historical cost | - | - | |||||||||||||
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 | |||||||||||||||
Additions | |||||||||||||||
At 31 May 2024 | |||||||||||||||
Historical cost | |||||||||||||||
At 31 May 2024 | 113,309 | ||||||||||||||
5 | Debtors | 2024 | 2023 | ||||||||||||
£ | £ | ||||||||||||||
Other debtors | |||||||||||||||
6 | Creditors: amounts falling due within one year | 2024 | 2023 | ||||||||||||
£ | £ | ||||||||||||||
Bank loans and overdrafts | |||||||||||||||
Taxation and social security costs | |||||||||||||||
Accruals | 6,250 | 5,000 | |||||||||||||
Other creditors | |||||||||||||||
7 | Creditors: amounts falling due after one year | 2024 | 2023 | ||||||||||||
£ | £ | ||||||||||||||
Bank loans | |||||||||||||||
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 | |||||||||||||
9 | Non distributable reserve | 2024 | 2023 | ||||||||||||
£ | £ | ||||||||||||||
At 1 June 2023 | (1,243,817) | ( |
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Gain on revaluation of land and buildings | - | ||||||||||||||
At 31 May 2024 | (1,243,817) | ||||||||||||||
10 | Loans to directors | ||||||||||||||
Description and conditions | B/fwd | Paid | Repaid | C/fwd | |||||||||||
£ | £ | £ | £ | ||||||||||||
6,042,291 | 359,739 | 1,500 | |||||||||||||
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 | ||||||||||||||
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 |