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Registered number: 04532902
Learning Circle Limited
Financial Statements
For The Year Ended 30 September 2024
Paul Ng & Associates
15 Halifax Way
Welwyn Garden City
Hertfordshire
AL72QH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04532902
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 45 64
Investments 5 115,497 100,531
115,542 100,595
CURRENT ASSETS
Debtors 6 20,210 -
Cash at bank and in hand 100,614 66,936
120,824 66,936
Creditors: Amounts Falling Due Within One Year 7 (46,659 ) (28,708 )
NET CURRENT ASSETS (LIABILITIES) 74,165 38,228
TOTAL ASSETS LESS CURRENT LIABILITIES 189,707 138,823
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,300 ) (6,400 )
NET ASSETS 180,407 132,423
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 10 39,473 27,249
Profit and Loss Account 140,834 105,074
SHAREHOLDERS' FUNDS 180,407 132,423
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Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved and authorised for issue by the board of directors on 27 November 2024 and were signed on its behalf by:
Mrs V de Naeyer
Director
27/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Learning Circle Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04532902 . The registered office is 9 Witchford, Welwyn Garden City, Hertfordshire, AL7 2PR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.
2.3. Turnover
Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for sales of goods and services rendered, net of discounts, rebates and value added tax.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 50% on cost
2.5. Financial Instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.6. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 October 2023 4,611
Disposals (694 )
As at 30 September 2024 3,917
Depreciation
As at 1 October 2023 4,547
Provided during the period 14
Disposals (689 )
As at 30 September 2024 3,872
Net Book Value
As at 30 September 2024 45
As at 1 October 2023 64
5. Investments
Unlisted
£
Cost
As at 1 October 2023 100,531
Disposals (158 )
Revaluations 15,124
As at 30 September 2024 115,497
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 115,497
As at 1 October 2023 100,531
Cost at 1 October 2022 and 30 September 2023 is represented by valuation at the balance sheet date.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,210 -
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 81 199
Other creditors 6,495 2,924
Taxation and social security 40,083 25,585
46,659 28,708
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mrs V de Naeyer 31,300 33,900
10. Reserves
Revaluation Reserve
£
As at 1 October 2023 27,249
Surplus on revaluation 12,224
As at 30 September 2024 39,473
11. Ultimate Controlling Party
The company's ultimate controlling party is Mrs V de Naeyer by virtue of his ownership of 100% of the issued share capital in the company.
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