Company registration number 09737975 (England and Wales)
Teaching Writing Online Limited
Financial Statements
For the year ended
31 August 2024
Pages for filing with registrar
Teaching Writing Online Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Teaching Writing Online Limited
Statement Of Financial Position
As at 31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
20,411
15,310
Current assets
Debtors
6
5,865
2,373
Cash at bank and in hand
196,643
55,104
202,508
57,477
Creditors: amounts falling due within one year
7
(424,158)
(317,157)
Net current liabilities
(221,650)
(259,680)
Net liabilities
(201,239)
(244,370)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(201,339)
(244,470)
Total equity
(201,239)
(244,370)
The notes on pages 2 to 5 form part of these financial statements.
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 23 May 2025
O. Yatsenko
Director
Company registration number 09737975 (England and Wales)
Teaching Writing Online Limited
Notes To The Financial Statements
For the year ended 31 August 2024
- 2 -
1
General information
Teaching Writing Online Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.
2
Accounting policies
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The director expects the continued financial support of the parent undertaking and its shareholders, who have confirmed they will support the company for all third party liabilities arising for a period of at least twelve months from the date of signing of the financial statements.Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for online plagiarism services provided in the normal course of business. Turnover is recognised when the services have been rendered and a report completed.
2.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
20% straight line
2.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer Equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Teaching Writing Online Limited
Notes To The Financial Statements (Continued)
For the year ended 31 August 2024
2
Accounting policies
(Continued)
- 3 -
2.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.
2.8
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 classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
2.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
3
Employees
There were no employees in the current and preceding years.
Teaching Writing Online Limited
Notes To The Financial Statements (Continued)
For the year ended 31 August 2024
- 4 -
4
Intangible fixed assets
Software
£
Cost
At 1 September 2023 and 31 August 2024
10,421
Amortisation and impairment
At 1 September 2023 and 31 August 2024
10,421
Carrying amount
At 31 August 2024
At 31 August 2023
5
Tangible fixed assets
Computer Equipment
£
Cost
At 1 September 2023
21,242
Additions
12,466
At 31 August 2024
33,708
Depreciation and impairment
At 1 September 2023
5,932
Depreciation charged in the year
7,365
At 31 August 2024
13,297
Carrying amount
At 31 August 2024
20,411
At 31 August 2023
15,310
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
5,865
2,373
Teaching Writing Online Limited
Notes To The Financial Statements (Continued)
For the year ended 31 August 2024
- 5 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,106
7,025
Amounts owed to group undertakings
11,153
11,864
Other creditors
401,899
298,268
424,158
317,157
8
Parent company
The company is controlled by its parent company, Learning Touch Holdings Limited, incorporated in the British Virgin Islands, with registered office at AMS Trustees Limited, Sea Meadow House, Blackburne Highway, P.O. Box 116, Road Town, Tortola, VG1110, British Virgin Islands.