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Registered Number: 13452802
England and Wales

 

 

 

LEARNEY AI LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 31 October 2024
Directors Dr M G Phillips
Mr H G Pulver
Registered Number 13452802
Registered Office Chester House Unit 2.25,
Chester House, 1-3 Brixton Road,
London
SW9 6DE
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 986    1,952 
986    1,952 
Current assets      
Debtors 4 7,281    5,207 
Cash at bank and in hand 33,088    178,192 
40,369    183,399 
Creditors: amount falling due within one year 5   (3,773)
Net current assets 40,369    179,626 
 
Total assets less current liabilities 41,355    181,578 
Net assets 41,355    181,578 
 

Capital and reserves
     
Called up share capital 6 94    94 
Share premium account 7 516,486    475,949 
Profit and loss account (475,225)   (294,465)
Shareholders' funds 41,355    181,578 
 


For the period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 January 2025 and were signed on its behalf by:


-------------------------------
Dr M G Phillips
Director
2
General Information
LEARNEY AI LTD is a private company, limited by shares, registered in England and Wales, registration number 13452802, registration address Chester House Unit 2.25,, Chester House, 1-3 Brixton Road,, London, SW9 6DE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 Years Straight Line
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Average number of employees

Average number of employees during the period was 2 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2023 2,899    2,899 
Additions  
Disposals  
At 31 October 2024 2,899    2,899 
Depreciation
At 01 July 2023 947    947 
Charge for period 966    966 
On disposals  
At 31 October 2024 1,913    1,913 
Net book values
Closing balance as at 31 October 2024 986    986 
Opening balance as at 01 July 2023 1,952    1,952 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Share capital not paid 1,443    1,443 
VAT Control 5,838    3,764 
7,281    5,207 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
PAYE & Social Security   2,594 
Employer's Pension contributions   906 
Directors current Account   273 
  3,773 

6.

Share Capital

Authorised
944,905 Ordinary shares of £0.0001 each
Allotted, called up and fully paid
2024
£
  2023
£
944,905 Ordinary shares of £0.0001 each 94    94 
94    94 

7.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 475,949    475,949 
Equity Share Premium - New Issue 40,537   
516,486    475,949 

3