First Class Learning Holdings Limited 10129173 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is the management activities of a holding company. Digita Accounts Production Advanced 6.30.9574.0 false true false 10129173 2023-07-01 2024-06-30 10129173 2024-06-30 10129173 bus:OrdinaryShareClass1 2024-06-30 10129173 bus:OrdinaryShareClass2 2024-06-30 10129173 core:CurrentFinancialInstruments 2024-06-30 10129173 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10129173 core:AllSubsidiaries 2024-06-30 10129173 bus:SmallEntities 2023-07-01 2024-06-30 10129173 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10129173 bus:FilletedAccounts 2023-07-01 2024-06-30 10129173 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10129173 bus:RegisteredOffice 2023-07-01 2024-06-30 10129173 bus:CompanySecretaryDirector1 2023-07-01 2024-06-30 10129173 bus:Director2 2023-07-01 2024-06-30 10129173 bus:Director3 2023-07-01 2024-06-30 10129173 bus:Director4 2023-07-01 2024-06-30 10129173 bus:Director5 2023-07-01 2024-06-30 10129173 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 10129173 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 10129173 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10129173 core:AllSubsidiaries 2023-07-01 2024-06-30 10129173 core:Subsidiary1 2023-07-01 2024-06-30 10129173 core:Subsidiary1 1 2023-07-01 2024-06-30 10129173 core:Subsidiary1 countries:England 2023-07-01 2024-06-30 10129173 countries:EnglandWales 2023-07-01 2024-06-30 10129173 2023-06-30 10129173 core:CostValuation 2023-06-30 10129173 core:AllSubsidiaries 2023-06-30 10129173 2022-07-01 2023-06-30 10129173 2023-06-30 10129173 bus:OrdinaryShareClass1 2023-06-30 10129173 bus:OrdinaryShareClass2 2023-06-30 10129173 core:CurrentFinancialInstruments 2023-06-30 10129173 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10129173 core:AllSubsidiaries 2023-06-30 10129173 core:AllSubsidiaries 2022-07-01 2023-06-30 10129173 core:Subsidiary1 1 2022-07-01 2023-06-30 10129173 2022-06-30 10129173 core:AllSubsidiaries 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10129173

First Class Learning Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

First Class Learning Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

First Class Learning Holdings Limited

Company Information

Directors

Mr R K Ellis

Mr E A Lazarus

Mr A J Barron

Mr S Ramasamy

Mr E J Hyslop

Company secretary

Mr R K Ellis

Registered office

4th Floor The Blade
Abbey Street
Reading
Berkshire
RG1 3BE

Accountants

Goldstrong Accountants Ltd
Chartered Accountants
55 Heaton Road
Grange Park
Billingham
Cleveland
TS23 3GP

 

First Class Learning Holdings Limited

(Registration number: 10129173)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,863,742

1,863,742

Current assets

 

Debtors

5

900,459

905,862

Cash at bank and in hand

 

202,203

202,311

 

1,102,662

1,108,173

Creditors: Amounts falling due within one year

6

(3,078,641)

(3,077,142)

Net current liabilities

 

(1,975,979)

(1,968,969)

Net liabilities

 

(112,237)

(105,227)

Capital and reserves

 

Called up share capital

7

2,000

2,000

Retained earnings

(114,237)

(107,227)

Shareholders' deficit

 

(112,237)

(105,227)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 March 2025 and signed on its behalf by:
 

.........................................
Mr E J Hyslop
Director

 

First Class Learning Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4th Floor The Blade
Abbey Street
Reading
Berkshire
RG1 3BE
England

These financial statements were authorised for issue by the Board on 19 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company is dependent on the financial support of its directors and they will not seek repayment until the company has sufficient funds to do so.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Tax

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

 

First Class Learning Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

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.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

First Class Learning Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,863,742

1,863,742

Subsidiaries

£

Cost or valuation

At 1 July 2023

1,863,742

Provision

Carrying amount

At 30 June 2024

1,863,742

At 30 June 2023

1,863,742

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

First Class Learning Ltd

4th Floor The Blade
Abbey Street
Reading
RG1 3BE

England

Ordinary shares

100%

100%

Subsidiary undertakings

First Class Learning Ltd

The principal activity of First Class Learning Ltd is the franchise services of educational provision.

 

First Class Learning Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

8

893,239

892,544

Other debtors

 

7,220

13,318

   

900,459

905,862

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

555,118

560,392

Accruals and deferred income

 

8,000

8,000

Other creditors

 

2,515,523

2,508,750

 

3,078,641

3,077,142

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

900

900

900

900

Ordinary B Shares of £1 each

1,100

1,100

1,100

1,100

2,000

2,000

2,000

2,000

 

First Class Learning Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Related party transactions

Summary of transactions with subsidiaries

First Class Learning Ltd
 

Income and receivables from related parties

2024

Subsidiary
£

Amounts receivable from related party

5,274

2023

Subsidiary
£

Amounts receivable from related party

52

Expenditure with and payables to related parties

2024

Subsidiary
£

Amounts payable to related party

695

2023

Subsidiary
£

Amounts payable to related party

1,925

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

892,544

892,544

Advanced

695

695

At end of period

893,239

893,239

2023

Subsidiary
£

Total
£

At start of period

892,596

892,596

Repaid

(52)

(52)

At end of period

892,544

892,544

Loans from related parties

2024

Subsidiary
£

Total
£

At start of period

560,392

560,392

Repaid

(5,274)

(5,274)

At end of period

555,118

555,118

 

First Class Learning Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2023

Subsidiary
£

Total
£

At start of period

558,467

558,467

Advanced

1,925

1,925

At end of period

560,392

560,392