Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 29 May 2025 1 September 2023 31 August 2024 31 August 2024 05791519 S Reynolds true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05791519 2023-08-31 05791519 2024-08-31 05791519 2023-09-01 2024-08-31 05791519 frs-core:CurrentFinancialInstruments 2024-08-31 05791519 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 05791519 frs-core:FurnitureFittings 2024-08-31 05791519 frs-core:FurnitureFittings 2023-09-01 2024-08-31 05791519 frs-core:FurnitureFittings 2023-08-31 05791519 frs-core:NetGoodwill 2024-08-31 05791519 frs-core:NetGoodwill 2023-09-01 2024-08-31 05791519 frs-core:NetGoodwill 2023-08-31 05791519 frs-core:OtherResidualIntangibleAssets 2024-08-31 05791519 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 05791519 frs-core:OtherResidualIntangibleAssets 2023-08-31 05791519 frs-core:SharePremium 2024-08-31 05791519 frs-core:ShareCapital 2024-08-31 05791519 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 05791519 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05791519 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 05791519 frs-bus:SmallEntities 2023-09-01 2024-08-31 05791519 frs-bus:Audited 2023-09-01 2024-08-31 05791519 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05791519 1 2023-09-01 2024-08-31 05791519 frs-bus:Director1 2023-09-01 2024-08-31 05791519 frs-countries:EnglandWales 2023-09-01 2024-08-31 05791519 2022-08-31 05791519 2023-08-31 05791519 2022-09-01 2023-08-31 05791519 frs-core:CurrentFinancialInstruments 2023-08-31 05791519 frs-core:SharePremium 2023-08-31 05791519 frs-core:ShareCapital 2023-08-31 05791519 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 05791519
Optimus Education Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—6
Page 1
Balance Sheet
Registered number: 05791519
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 5 203,971 250,522
Tangible Assets 6 191 1,128
204,162 251,650
CURRENT ASSETS
Debtors 7 643,134 1,066,861
Cash at bank and in hand 245,668 80,959
888,802 1,147,820
Creditors: Amounts Falling Due Within One Year 8 (1,538,319 ) (1,957,706 )
NET CURRENT ASSETS (LIABILITIES) (649,517 ) (809,886 )
TOTAL ASSETS LESS CURRENT LIABILITIES (445,355 ) (558,236 )
NET LIABILITIES (445,355 ) (558,236 )
CAPITAL AND RESERVES
Called up share capital 9 100,001 100,001
Share premium account 12,500 12,500
Profit and Loss Account (557,856 ) (670,737 )
SHAREHOLDERS' FUNDS (445,355) (558,236)
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.
The financial statements for Optimus Education Limited (company number 05791519) were approved by the board on 29 May 2025 and were signed by:
S Reynolds
Director
29/05/2025
The notes on pages 2 to 6 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Optimus Education Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05791519 . The registered office is Collar Factory, 112 St. Augustine Street, Taunton, Somerset, TA1 1QN.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Rendering of services
Revenue on service-based contracts is recognised as services are provided. Where the company has received consideration under the terms of a contract in advance of performing the related service, revenue is deferred until the relevant contractual commitment has been fulfilled. An expected loss on a contract is recognised immediately in the profit and loss account.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised on a straight-line basis to profit and loss account over its estimated economic life of 5 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other Intangible contains the development cost for the company's training website. These costs have been capitalised because the website is used for the rendering of services that will generate economic benefit for the company into the future.
The website development is initially recognised at cost within intangible assets and is subsequently amortised to the profit and loss account over the estimated economic life of 8 years (2023: 5 years).
From 1 September 2023, the accounting estimate used to calculate the expected useful economic life for the website development costs intangible asset has been changed from 5 years to 8 years. The effect of this change in accounting estimate is that depreciation of £46,550 has been recognised through the profit and loss, whereas this would have been £93,100 if the change had not been made.
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:
Fixtures & Fittings 4 - 5 years straight line basis
Assets costing less than £3,000 are not capitalised.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Going Concern
The financial statements have been prepared on a going concern basis. The director has, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
In forming this view, the director has considered:
  • the company’s current financial position, including available cash and credit facilities;
  • forecasts of future performance and cash flows covering a period of at least twelve months from the date of approval of the financial statements;
  • the post year-end trading results of the company which continues to materially meet budgeted cashflows.
The director has not identified any material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 33)
34 33
4. Prior Period Adjustment
The accounts for 2023 have been restated to incorporate the impact of a misscalculation of the amount of revenue to be deferred until the company's contractual commitments have been fulfilled.
The change has resulted in the company's funds available for distribution within the profit and loss account reducing by £493,397. 
The profit and loss of the company for the year to 31 August 2023 has been restated as follows:
Profit and Loss (extract) for 2023
As previously reported
Adjustment
As restated
£
£
£
Turnover
3,258,295
(493,397)
2,764,898
Profit before tax
1,281,411
(493,397)
788,014
Profit after taxation
1,273,277
(493,397)
779,880
...CONTINUED
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4. Prior Period Adjustment - continued
The net liabilities of the company as at 31 August 2023 have increased as follows:
As previously reported
Adjustment
As restated
£
£
£
Creditors: Amounts falling due within one year
1,464,309
493,397 
1,957,706 
Net current liabilities
316,489
493,397 
809,886 
Retained earnings: Profit and (Loss) account
(177,340)
(493,397)
(670,737)
Shareholders funds
(64,839)
(493,397)
(558,236)
5. Intangible Assets
Goodwill Other Intangible Total
£ £ £
Cost
As at 1 September 2023 36,155 1,197,904 1,234,059
As at 31 August 2024 36,155 1,197,904 1,234,059
Amortisation
As at 1 September 2023 36,155 947,382 983,537
Provided during the period - 46,551 46,551
As at 31 August 2024 36,155 993,933 1,030,088
Net Book Value
As at 31 August 2024 - 203,971 203,971
As at 1 September 2023 - 250,522 250,522
6. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 September 2023 110,348
Disposals (848 )
As at 31 August 2024 109,500
Depreciation
As at 1 September 2023 109,220
Provided during the period 89
As at 31 August 2024 109,309
Net Book Value
As at 31 August 2024 191
As at 1 September 2023 1,128
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7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 335,223 643,948
Amounts owed by group undertakings 63,258 11,918
Other debtors 244,653 410,995
643,134 1,066,861
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 59,623 95,906
Other creditors 1,344,537 1,764,545
Taxation and social security 134,159 97,255
1,538,319 1,957,706
9. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 100,001 100,001
10. Related Party Transactions
During the prior year, to 31 August 2023, an intercompany debt of £1,302,159 owed to the company's parent, Prospects Education Services Limited, was written off. The intercompany debt was recognised within Creditors falling due within one year. The impact of this was to reduce net liabilities by £1,302,159 and increase the funds available within the profit and loss account by the same amount.
All other related party transactions have been conducted under normal market conditions.
11. Exceptional Items
2024
2023
£
£
Intercompany debt forgiveness
1,302,159  
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image
12. Ultimate Parent Undertaking and Controlling Party
During the entire year to 31 August 2023 and during the period from 1 September 2023 to 30 April 2024, the company's immediate parent company was Prospects Education Services Limited, a company registered in England and Wales (number 09598618). During this time, the ultimate parent and controlling party was Shaw Trust Limited (The), a company registered in England and Wales (number 01744121). Shaw Trust Limited (The) is the largest and smallest group of undertakings for which group financial statements have been drawn up and copies can be obtained from Black Country House, Rounds Green, Oldbury, B69 2DG.
From 1 May 2024 onward, the immediate parent and ultimate parent undertaking is The School Training Company Limited , a company registered in England and Wales (number 14773184). The School Training Company Limited and the group qualify as small under s383 of the Companies Act 2006 and are considered eligible for the exemption as determined by reference to sections 384 and 399(2A) of the Companies Act 2006.
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13. Audit Information
The auditor's report on the accounts of Optimus Education Limited for the year ended 31 August 2024 was unqualified.
The auditor's report was signed by Neil Johnston (Senior Statutory Auditor) for and on behalf of Albert Goodman LLP , Statutory Auditor.
Albert Goodman LLP
5th Floor
25 King Street
Bristol
BS1 4PB
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