Company registration number 05943726 (England and Wales)
ENJOY EDUCATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
ENJOY EDUCATION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ENJOY EDUCATION LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
24,583
17,398
Tangible assets
4
20,100
19,297
44,683
36,695
Current assets
Debtors
5
385,788
465,450
Cash at bank and in hand
666,269
457,154
1,052,057
922,604
Creditors: amounts falling due within one year
6
(762,752)
(778,703)
Net current assets
289,305
143,901
Total assets less current liabilities
333,988
180,596
Provisions for liabilities
(5,025)
(4,567)
Net assets
328,963
176,029
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
328,962
176,028
Total equity
328,963
176,029
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
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 director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 May 2025
Ms K E Shand
Director
Company registration number 05943726 (England and Wales)
ENJOY EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Enjoy Education Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Relton Mews, Knightsbridge, London, United Kingdom, SW7 1ET.
1.1
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 £1.
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.
1.2
Going concern
The directors have a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The directors have carried out a detailed assessment of the viability of the company following to uncertainty over the current economic conditions due to worldwide increasing rate of inflation and interest rates.
As a result of their review, the directors have taken appropriate measures to enable them to have a reasonable expectation that the company will have sufficient working capital for a period of at least 12 months from the date these financial statements have been approved.
On the basis of the above, the directors are of the opinion that there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial statements on a going concern basis.
1.3
Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of education services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, tutor costs, 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.
1.4
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.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
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:
Computer software
Over 5 years
ENJOY EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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:
Short Leasehold
Over the term of the lease
Fixtures and fittings
20% reducing balance
Office equipment
20% reducing balance
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.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
ENJOY EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
19
21
3
Intangible fixed assets
Other
£
Cost
At 1 September 2023
21,748
Additions
14,419
At 31 August 2024
36,167
Amortisation and impairment
At 1 September 2023
4,350
Amortisation charged for the year
7,234
At 31 August 2024
11,584
Carrying amount
At 31 August 2024
24,583
At 31 August 2023
17,398
ENJOY EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
4
Tangible fixed assets
Short Leasehold
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 1 September 2023
5,398
12,673
64,761
82,832
Additions
5,430
5,430
At 31 August 2024
5,398
12,673
70,191
88,262
Depreciation and impairment
At 1 September 2023
5,398
11,595
46,542
63,535
Depreciation charged in the year
216
4,411
4,627
At 31 August 2024
5,398
11,811
50,953
68,162
Carrying amount
At 31 August 2024
862
19,238
20,100
At 31 August 2023
1,078
18,219
19,297
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
328,794
438,930
Other debtors
56,994
26,520
385,788
465,450
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
233,652
275,388
Corporation tax
62,655
47,624
Other taxation and social security
138,290
181,718
Other creditors
328,155
273,973
762,752
778,703
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1
1
1
1
ENJOY EDUCATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
8
Financial commitments, guarantees and contingent liabilities
Amounts not provided in the in the balance sheet
The total amount of financial commitments not included in the balance sheet is £351,000 (2023 - £405,000).