| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 9 JUNE 2023 TO 30 NOVEMBER 2024 |
| FOR |
| EDUCATIONAL INTELLIGENCE LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 9 JUNE 2023 TO 30 NOVEMBER 2024 |
| FOR |
| EDUCATIONAL INTELLIGENCE LIMITED |
| EDUCATIONAL INTELLIGENCE LIMITED (REGISTERED NUMBER: 14925837) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Period 9 June 2023 to 30 November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| EDUCATIONAL INTELLIGENCE LIMITED |
| COMPANY INFORMATION |
| for the Period 9 June 2023 to 30 November 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Grovelands |
| Boundary Way |
| Hemel Hempstead |
| Hertfordshire |
| HP2 7TE |
| EDUCATIONAL INTELLIGENCE LIMITED (REGISTERED NUMBER: 14925837) |
| BALANCE SHEET |
| 30 November 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Other reserves |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| EDUCATIONAL INTELLIGENCE LIMITED (REGISTERED NUMBER: 14925837) |
| BALANCE SHEET - continued |
| 30 November 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| EDUCATIONAL INTELLIGENCE LIMITED (REGISTERED NUMBER: 14925837) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Period 9 June 2023 to 30 November 2024 |
| 1. | STATUTORY INFORMATION |
| Educational Intelligence Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director, the shareholders, and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| EDUCATIONAL INTELLIGENCE LIMITED (REGISTERED NUMBER: 14925837) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Period 9 June 2023 to 30 November 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 liabilities |
| Basic financial liabilities, 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. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| EDUCATIONAL INTELLIGENCE LIMITED (REGISTERED NUMBER: 14925837) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Period 9 June 2023 to 30 November 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Compound instruments |
| The component parts of compound instruments issued by the company are classified separately as financial |
| liabilities and equity in accordance with he substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar |
| non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Developmen |
| costs |
| £ |
| COST |
| Additions |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Value added tax |
| Deferred tax asset |
| Tax losses carried forward |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Directors' current accounts | 16,167 |
| Accruals |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| £ |
| Other loans - 2-5 years |
| EDUCATIONAL INTELLIGENCE LIMITED (REGISTERED NUMBER: 14925837) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Period 9 June 2023 to 30 November 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| On 31 July 2024 the company issued £250,000 convertible loan notes. The convertible loan notes attract an interest rate of 0%. Interest on the loan notes is expensed in the year and calculated using an effective interest rate of 3.73% to the liability component of the loan notes. The liability component is measured at amortised cost. The difference between the carrying amount of the liability component at the date of issue and the amount reported in the balance sheet represents the effective interest rate less interest accrued. |
| 8. | DEFERRED TAX |
| £ |
| Credit to Profit and Loss Account during period | ( |
) |
| Balance at 30 November 2024 | ( |
) |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| Ordinary | £0.00001 | 21 |
| 2,082,800 Ordinary shares of £0.00001 each were allotted and fully paid for |
| 10. | CONTINGENT LIABILITIES |
| The company has a contingent liability amounting to £20,000 which is subject to future capital raising events which are currently uncertain and the timing of the outflows are yet to be determined. |