Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09985173 2023-03-01 2024-02-29 09985173 2022-03-01 2023-02-28 09985173 2024-02-29 09985173 2023-02-28 09985173 c:Director1 2023-03-01 2024-02-29 09985173 d:OfficeEquipment 2023-03-01 2024-02-29 09985173 d:OfficeEquipment 2024-02-29 09985173 d:OfficeEquipment 2023-02-28 09985173 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09985173 d:ComputerEquipment 2023-03-01 2024-02-29 09985173 d:ComputerEquipment 2024-02-29 09985173 d:ComputerEquipment 2023-02-28 09985173 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09985173 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09985173 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 09985173 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 09985173 d:ComputerSoftware 2024-02-29 09985173 d:ComputerSoftware 2023-02-28 09985173 d:CurrentFinancialInstruments 2024-02-29 09985173 d:CurrentFinancialInstruments 2023-02-28 09985173 d:Non-currentFinancialInstruments 2024-02-29 09985173 d:Non-currentFinancialInstruments 2023-02-28 09985173 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 09985173 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09985173 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 09985173 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 09985173 d:ShareCapital 2024-02-29 09985173 d:ShareCapital 2023-02-28 09985173 d:SharePremium 2024-02-29 09985173 d:SharePremium 2023-02-28 09985173 d:RetainedEarningsAccumulatedLosses 2024-02-29 09985173 d:RetainedEarningsAccumulatedLosses 2023-02-28 09985173 c:FRS102 2023-03-01 2024-02-29 09985173 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09985173 c:FullAccounts 2023-03-01 2024-02-29 09985173 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09985173 2 2023-03-01 2024-02-29 09985173 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-03-01 2024-02-29 09985173 d:ComputerSoftware d:OwnedIntangibleAssets 2023-03-01 2024-02-29 09985173 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 09985173










FINITO EDUCATION LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
FINITO EDUCATION LTD
REGISTERED NUMBER: 09985173

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,880
5,780

Tangible assets
 5 
1,054
2,046

  
3,934
7,826

Current assets
  

Debtors: amounts falling due within one year
 6 
493,579
326,419

Cash at bank and in hand
 7 
1,211
2,822

  
494,790
329,241

Creditors: amounts falling due within one year
 8 
(437,091)
(315,346)

Net current assets
  
 
 
57,699
 
 
13,895

Total assets less current liabilities
  
61,633
21,721

Creditors: amounts falling due after more than one year
 9 
(28,064)
(32,922)

  

Net assets/(liabilities)
  
33,569
(11,201)


Capital and reserves
  

Called up share capital 
  
117
117

Share premium account
  
186,584
186,584

Profit and loss account
  
(153,132)
(197,902)

  
33,569
(11,201)


Page 1

 
FINITO EDUCATION LTD
REGISTERED NUMBER: 09985173
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Ronel Lehmann
Director
Date: 11 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FINITO EDUCATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Finito Education Ltd is a private company limited by shares and registered in England and Wales. The
registered office address is 14th Floor, 33 Cavendish Square, London, United Kingdom, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis based on the continued
support of the company's director.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
FINITO EDUCATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
4 years
Computer equipment
-
4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
FINITO EDUCATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets






Trademarks
Computer software
Total

£
£
£



Cost


At 1 March 2023
1,000
8,880
9,880



At 29 February 2024

1,000
8,880
9,880



Amortisation


At 1 March 2023
1,000
3,100
4,100


Charge for the year on owned assets
-
2,900
2,900



At 29 February 2024

1,000
6,000
7,000



Net book value



At 29 February 2024
-
2,880
2,880



At 28 February 2023
-
5,780
5,780



Page 5

 
FINITO EDUCATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Office equipment
Computer equipment
Total

£
£
£



Cost


At 1 March 2023
850
4,341
5,191



At 29 February 2024

850
4,341
5,191



Depreciation


At 1 March 2023
319
2,826
3,145


Charge for the year on owned assets
212
780
992



At 29 February 2024

531
3,606
4,137



Net book value



At 29 February 2024
319
735
1,054



At 28 February 2023
531
1,515
2,046


6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
71,000
29,700

Other debtors
189,382
52,491

Prepayments and accrued income
233,197
244,228

493,579
326,419



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
1,211
2,822


Page 6

 
FINITO EDUCATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other loans
4,858
4,739

Trade creditors
81,883
52,429

Corporation tax
34,556
13,245

Other taxation and social security
5,821
5,502

Other creditors
303,328
232,289

Accruals and deferred income
6,645
7,142

437,091
315,346



9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
28,064
32,922


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

29 February
28 February
2024
2023
£
£


Repayable by instalments
-
12,739

-
12,739

The bank loan is a fixed term loan, the interest rate is fixed at 2.5% per annum.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £1,717 (2023 - £1,321).
Contributions totalling £557 (2023 - £544) were payable to the fund at the balance sheet date and are
included in creditors.

Page 7

 
FINITO EDUCATION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Related party transactions

At the year end the balance due from the director was £141,594 (2023: £39,246). Interest is charged on
this loan at a rate of 2% per annum.

 
Page 8