16 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05049119 2023-03-01 2024-02-29 05049119 2024-02-29 05049119 2023-02-28 05049119 2022-03-01 2023-02-28 05049119 2023-02-28 05049119 2022-02-28 05049119 core:PlantMachinery 2023-03-01 2024-02-29 05049119 core:FurnitureFittings 2023-03-01 2024-02-29 05049119 bus:Director2 2023-03-01 2024-02-29 05049119 core:WithinOneYear 2024-02-29 05049119 core:WithinOneYear 2023-02-28 05049119 core:ShareCapital 2024-02-29 05049119 core:ShareCapital 2023-02-28 05049119 core:RetainedEarningsAccumulatedLosses 2024-02-29 05049119 core:RetainedEarningsAccumulatedLosses 2023-02-28 05049119 bus:Director2 2023-02-28 05049119 bus:Director2 2024-02-29 05049119 bus:Director2 2022-02-28 05049119 bus:Director2 2023-02-28 05049119 bus:Director2 2022-03-01 2023-02-28 05049119 bus:SmallEntities 2023-03-01 2024-02-29 05049119 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 05049119 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05049119 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05049119 bus:AbridgedAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 05049119
Learning Land Limited
Filleted Unaudited Abridged Financial Statements
29 February 2024
Learning Land Limited
Abridged Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
199,629
201,197
Current assets
Debtors
29,845
24,908
Cash at bank and in hand
46,296
58,536
--------
--------
76,141
83,444
Creditors: amounts falling due within one year
89,094
75,641
--------
--------
Net current (liabilities)/assets
( 12,953)
7,803
---------
---------
Total assets less current liabilities
186,676
209,000
Provisions
Taxation including deferred tax
9,176
9,018
---------
---------
Net assets
177,500
199,982
---------
---------
Learning Land Limited
Abridged Statement of Financial Position (continued)
29 February 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
177,498
199,980
---------
---------
Shareholders funds
177,500
199,982
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 29th February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 29th February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 8 November 2024 , and are signed on behalf of the board by:
Mrs H McCarron
Director
Company registration number: 05049119
Learning Land Limited
Notes to the Abridged Financial Statements
Year ended 29th February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Milburn House, 3 Oxford Street, Workington, Cumbria, CA14 2AL.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires the use of etimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Any estimate that has a degree of uncertainty or where judgement has been exercised in a particular area is expressly disclosed within the relevant accounting policy.
(c) Revenue recognition
The turnover shown in the profit and loss account represents fees receivable during the year.
(d) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Fixtures & Fittings
-
15% reducing balance
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
(h) Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
(i) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(j) Financial instruments
The only financial instruments in issue are ordinary shares which are classified as equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2023: 16 ).
5. Tangible assets
£
Cost
At 1st March 2023
292,978
Additions
8,650
---------
At 29th February 2024
301,628
---------
Depreciation
At 1st March 2023
91,781
Charge for the year
10,218
---------
At 29th February 2024
101,999
---------
Carrying amount
At 29th February 2024
199,629
---------
At 28th February 2023
201,197
---------
6. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 3,049 (2023: £ 2,498 ).
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mrs H McCarron
8,263
81,818
( 90,249)
( 168)
-------
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mrs H McCarron
9,785
55,101
( 56,623)
8,263
-------
--------
--------
-------