IRIS Accounts Production v24.3.0.553 04561709 Board of Directors 1.4.23 31.3.24 31.3.24 true false true false false false true false Ordinary 0.01 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045617092023-03-31045617092024-03-31045617092023-04-012024-03-31045617092022-03-31045617092022-04-012023-03-31045617092023-03-3104561709ns15:EnglandWales2023-04-012024-03-3104561709ns14:PoundSterling2023-04-012024-03-3104561709ns10:Director12023-04-012024-03-3104561709ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104561709ns10:SmallEntities2023-04-012024-03-3104561709ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3104561709ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104561709ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104561709ns10:FullAccounts2023-04-012024-03-310456170912023-04-012024-03-3104561709ns10:OrdinaryShareClass12023-04-012024-03-3104561709ns10:Director22023-04-012024-03-3104561709ns10:Director32023-04-012024-03-3104561709ns10:RegisteredOffice2023-04-012024-03-3104561709ns5:CurrentFinancialInstruments2024-03-3104561709ns5:CurrentFinancialInstruments2023-03-3104561709ns5:Non-currentFinancialInstruments2024-03-3104561709ns5:Non-currentFinancialInstruments2023-03-3104561709ns5:ShareCapital2024-03-3104561709ns5:ShareCapital2023-03-3104561709ns5:SharePremium2024-03-3104561709ns5:SharePremium2023-03-3104561709ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3104561709ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3104561709ns5:RetainedEarningsAccumulatedLosses2024-03-3104561709ns5:RetainedEarningsAccumulatedLosses2023-03-3104561709ns5:NetGoodwill2023-04-012024-03-3104561709ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104561709ns5:PlantMachinery2023-04-012024-03-3104561709ns5:NetGoodwill2023-03-3104561709ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-3104561709ns5:ComputerSoftware2023-03-3104561709ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-3104561709ns5:ComputerSoftware2023-04-012024-03-3104561709ns5:NetGoodwill2024-03-3104561709ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-03-3104561709ns5:ComputerSoftware2024-03-3104561709ns5:NetGoodwill2023-03-3104561709ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-3104561709ns5:ComputerSoftware2023-03-3104561709ns5:CostValuation2023-03-3104561709ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104561709ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104561709ns5:CurrentFinancialInstruments2023-04-012024-03-3104561709ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3104561709ns5:Non-currentFinancialInstruments2023-04-012024-03-3104561709ns5:WithinOneYear2024-03-3104561709ns5:WithinOneYear2023-03-3104561709ns5:BetweenOneFiveYears2024-03-3104561709ns5:BetweenOneFiveYears2023-03-3104561709ns5:AllPeriods2024-03-3104561709ns5:AllPeriods2023-03-3104561709ns10:OrdinaryShareClass12024-03-3104561709ns10:Director222023-03-3104561709ns10:Director222022-03-3104561709ns10:Director222023-04-012024-03-3104561709ns10:Director222022-04-012023-03-3104561709ns10:Director222024-03-3104561709ns10:Director222023-03-31
REGISTERED NUMBER: 04561709 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

E-Careers Limited

E-Careers Limited (Registered number: 04561709)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 4

Notes to the Financial Statements 6


E-Careers Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J S Gandhum
H Dhillon
V R Bhatt





REGISTERED OFFICE: Unit 6 Waterside Drive
Langley
SL3 6EZ





REGISTERED NUMBER: 04561709 (England and Wales)





ACCOUNTANTS: Three Kings Accounting Ltd
Suite 3
Dukes House
4-6 High Street
Windsor
Berkshire
SL4 1LD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
E-Careers 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 Statement of Comprehensive Income 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 E-Careers Limited for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 E-Careers 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 E-Careers Limited and state those matters that we have agreed to state to the Board of Directors of E-Careers 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 E-Careers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that E-Careers 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 E-Careers Limited. You consider that E-Careers 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 E-Careers 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.






Three Kings Accounting Ltd
Suite 3
Dukes House
4-6 High Street
Windsor
Berkshire
SL4 1LD


Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
E-Careers Limited


28 October 2024

E-Careers Limited (Registered number: 04561709)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,783,339 2,509,250
Tangible assets 6 36,125 40,569
Investments 7 205,094 205,094
3,024,558 2,754,913

CURRENT ASSETS
Stocks 27,145 26,274
Debtors 8 1,542,208 1,352,018
Cash at bank 61,042 86,685
1,630,395 1,464,977
CREDITORS
Amounts falling due within one year 9 1,803,436 2,056,299
NET CURRENT LIABILITIES (173,041 ) (591,322 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,851,517

2,163,591

CREDITORS
Amounts falling due after more than
one year

10

217,137

274,083
NET ASSETS 2,634,380 1,889,508

E-Careers Limited (Registered number: 04561709)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 116 112
Share premium 1,078,363 929,997
Share options reserve 187,517 165,009
Retained earnings 1,368,384 794,390
SHAREHOLDERS' FUNDS 2,634,380 1,889,508

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





V R Bhatt - Director


E-Careers Limited (Registered number: 04561709)

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

1. STATUTORY INFORMATION

E-Careers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the Company was the provision of E- learning services.

The principal place of business is Unit 6 Waterside Drive, Langley, SL3 6EZ.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about E-Careers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are amortised evenly over 10 years.

E-Careers Limited (Registered number: 04561709)

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

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development
Expenditure on research and development is capitalised under development costs, within intangible assets, in the year in which it is incurred. After initial recognition, these are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is recognised evenly over 10 years.

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.

E-Careers Limited (Registered number: 04561709)

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

3. 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.

Employee benefits
The fair value of the services received in respect to the grant of share options is amortised over the expected vesting period.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 46 ) .

5. INTANGIBLE FIXED ASSETS
Development Computer
Goodwill costs software Totals
£    £    £    £   
COST
At 1 April 2023 4,250 3,266,461 12,750 3,283,461
Additions 20,000 617,936 - 637,936
At 31 March 2024 24,250 3,884,397 12,750 3,921,397
AMORTISATION
At 1 April 2023 1,275 769,111 3,825 774,211
Amortisation for year 2,258 360,314 1,275 363,847
At 31 March 2024 3,533 1,129,425 5,100 1,138,058
NET BOOK VALUE
At 31 March 2024 20,717 2,754,972 7,650 2,783,339
At 31 March 2023 2,975 2,497,350 8,925 2,509,250

E-Careers Limited (Registered number: 04561709)

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

6. TANGIBLE FIXED ASSETS

LandFixtures
andComputerand
buildingsequipmentfittingsTotals
£££ £
COST
At 1 April 2022-79,32117,83097,151
Additions-18,905-18,905
Disposals----
At 31 March 2023-98,22617,830116,056
DEPRECIATION
At 1 April 2022-50,42713,42363,850
Charge for year-10,5361,10111,637
Eliminated on
disposal

-


-


-


-

At 31 March 2023-60,96314,52475,487
NET BOOK VALUE
At 31 March 2023-37,2633,30640,569
At 31 March 2022-28,8944,40733,301

7. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 204,308 786 205,094
NET BOOK VALUE
At 31 March 2024 204,308 786 205,094
At 31 March 2023 204,308 786 205,094

E-Careers Limited (Registered number: 04561709)

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

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 249,607 273,395
Amounts owed by group undertakings 558,055 382,445
Other debtors 362,165 307,717
Directors' current accounts 47,158 -
Tax 275,000 275,000
Prepayments 50,223 113,461
1,542,208 1,352,018

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans 606,947 680,222
Trade creditors 535,388 587,845
Amounts owed to group undertakings 149,990 122,000
Social security and other taxes 364,692 355,046
Other creditors 128,583 148,369
Directors' current accounts - 483
Accruals and deferred income 7,594 162,334
Accrued expenses 10,242 -
1,803,436 2,056,299

Other loans include loans from GAM Ltd,Reward Finance, a related party and credit cards. Credit card interest rates are variable and are paid off regularly, therefore no interest is charged on them. Other loans have the following interest rates and repayment dates:

InterestDue
Rate< 1 Year
£
GAM Ltd loan 112%26,786
GAM Ltd loan 212%8,928
GAM Ltd loan 311%12,501
Reward FinanceVariable268,521
H Gill6%100,000




GAM Ltd loans are secured on the personal assets of the majority shareholder. The Reward Finance loan is secured by second charge on the assets of the company.

E-Careers Limited (Registered number: 04561709)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Other loans - 1-2 years - 48,215
Other loans - 2-5 years 217,137 225,868
217,137 274,083

Other loans is comprised of a loan from Duflon Europe Limited. This loan has the following interest rates and repayment dates:

InterestDueDue
Rate1-2 Years2-5 Years
£ £
Duflon Europe Limited0%-217,137

-



11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 79,800 79,800
Between one and five years 79,800 79,800
159,600 159,600

E-Careers Limited (Registered number: 04561709)

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

12. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Secured Loan 316,736 134,673

Included within other loans are the following amounts which have been provided by GAM Ltd and are secured on the personal property of the majority shareholder:

Due < 1 Year £48,215

The loan from Reward Finance is secured by second charge on the assets of the company:

Due in < 1 Year £268,521

The remainder of the other loans from various sources are unsecured on company assets and are due as follows:

Due < 1 Year £290,210
Due 2-5 years £217,137

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
11,593,283 Ordinary .0000 1 116 112

14. OTHER FINANCIAL COMMITMENTS

A bank loan taken out by Miltech Limited, a connected company, is secured by a fixed and floating charge over the Company's assets by National Westminster Bank Plc.

E-Careers Limited (Registered number: 04561709)

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

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J S Gandhum
Balance outstanding at start of year (483 ) 150,000
Amounts advanced 81,607 41,000
Amounts repaid (33,966 ) (191,483 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,158 (483 )

16. RELATED PARTY DISCLOSURES

Included in Other Loans is a loan from H Gill totalling £100,000 (2023: £100,000 a person connected to one of the shareholders. This loan is interest bearing at a rate of 6% per annum.

Included in Other Debtors at the Balance Sheet date was a balance of £133,715 (2023: £79,480) owed by Miltech Limited, a connected company.

17. ULTIMATE CONTROLLING PARTY

Control of the Company is shared between J Gandhum and three other family members.

E-Careers Limited (Registered number: 04561709)

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

18. SHARE-BASED PAYMENT TRANSACTIONS

On 14 June 2019, the Company established an Approved EMI Share Option Scheme to allow it to grant EMI options to assist in the recruitment and retention of employees.

An option holder may not exercise an option before the earlier of the following:
(a) an exit; or
(b) the ninth anniversary of the grant date.


Number of optionsExercise Price

Outstanding at 1 April 20233,061,699£0.61
Forfeited during the year295,434
Outstanding at 31 March
2024

2,766,265



The fair value of services received has been calculated at 31 March 2024 and is based on a external valuation of the Company carried out in December 2020. The full valuation has been discounted for options expected to be forfeited before the vesting date.

The total expense recognised as employee benefits in the profit and loss account in 2024 is £22,508 (2023: £22,508) and this amount is also carried forward in the share options reserve.