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Registered number: 06835000
Lanterna Education Limited
Financial Statements
For The Year Ended 31 December 2024
Broadwing Accountancy Services Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 06835000
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 120
- 120
CURRENT ASSETS
Debtors 5 1,100,748 609,881
Cash at bank and in hand 444,554 561,917
1,545,302 1,171,798
Creditors: Amounts Falling Due Within One Year 6 (1,455,865 ) (984,776 )
NET CURRENT ASSETS (LIABILITIES) 89,437 187,022
TOTAL ASSETS LESS CURRENT LIABILITIES 89,437 187,142
NET ASSETS 89,437 187,142
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 88,437 186,142
SHAREHOLDERS' FUNDS 89,437 187,142
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.
On behalf of the board
Daniel Bjarne
Director
17/03/2025
The notes on pages 2 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lanterna Education Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06835000 . The registered office is 1 Cottesbrooke Park, Heartlands Business Park, Daventry, Northamptonshire, NN11 8YL.
The company's principal activity continues to be that of Online Private Tuition.
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. Going Concern Disclosure
The financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet its financial obligations as they fall due for payment for the foreseeable future.
The going concern is not identified as a risk since the parent company will continue to support the company and provide funding when needed.

2.3. 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 Directors' opinion there are no significant judgements and no key sources of estimation
uncertainty.
2.4. Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

2.5. 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:
Computer Equipment 33% Straight line
2.6. Financial Instruments
Financial instruments held by the company include trade debtors, trade creditors and loans to related parties. The company does not consider there to be any other class of financial instruments.
2.7. Foreign Currencies
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried forward at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.
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2.8. Taxation
Income tax 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.
2.9. Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2.10. Trade Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

2.11. Cash and Cash Equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.12. Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.13. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 119 (2023: 129)
119 129
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 2,336
Disposals (2,336 )
As at 31 December 2024 -
Depreciation
As at 1 January 2024 2,216
Provided during the period 120
Disposals (2,336 )
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 120
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 242,725 202,061
Prepayments and accrued income 27,570 32,134
Other debtors 22,343 36,285
Amounts owed by group undertakings 808,110 339,401
1,100,748 609,881
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,432 12,591
Corporation tax 31,149 22,609
Other taxes and social security 4,395 3,162
VAT 142,387 126,239
Other creditors 1,258,502 820,175
1,455,865 984,776
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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8. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 190,000 -
9. Ultimate Controlling Party
The company's immediate parent is Lanterna Europe AB, incorporated in Sweden.
The address of Lanterna Europe AB is:
LINNÉGATAN 87 D
115 23 Stockholm
Sweden
The ultimate controlling party is Hugo Wernhoff
10. Audit Information
The auditor's report on the accounts of Lanterna Education Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Hannah Fowlie (Senior Statutory Auditor) for and on behalf of Bourner Bullock Chartered Accountants , Statutory Auditor.
Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
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