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Registration number: 07676971

Little Learning Ladder Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Little Learning Ladder Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Little Learning Ladder Limited

(Registration number: 07676971)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

301,501

302,863

Current assets

 

Debtors

5

270,649

10,000

Cash at bank and in hand

 

102,392

148,662

 

373,041

158,662

Creditors: Amounts falling due within one year

6

(197,184)

(83,437)

Net current assets

 

175,857

75,225

Net assets

 

477,358

378,088

Capital and reserves

 

Called up share capital

103

103

Retained earnings

477,255

377,985

Shareholders' funds

 

477,358

378,088

For the financial year ending 30 September 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 and 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 9 June 2025 and signed on its behalf by:
 

.........................................
J K Little
Director

 

Little Learning Ladder Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
7a King Street
Frome
Somerset
BA11 1BH

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Little Learning Ladder Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

over the 10 year lease term

Motor vehicles

25% reducing balance

Plant and equipment

25% reducing balance

Computer equipment

25% on cost

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Little Learning Ladder Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2023 - 31).

4

Tangible assets

Land and buildings
£

Plant and machinery etc
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

372,886

9,350

2,000

384,236

At 30 September 2024

372,886

9,350

2,000

384,236

Depreciation

At 1 October 2023

71,540

8,011

1,822

81,373

Charge for the year

497

806

59

1,362

At 30 September 2024

72,037

8,817

1,881

82,735

Net book value

At 30 September 2024

300,849

533

119

301,501

At 30 September 2023

301,346

1,339

178

302,863

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

260,649

-

Other debtors

 

10,000

10,000

 

270,649

10,000

 

Little Learning Ladder Limited

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

6

Creditors

Amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

12,000

-

Taxation and social security

45,248

17,668

Accruals and deferred income

18,247

4,854

Other creditors

121,689

60,915

197,184

83,437

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £23,994).

8

Related party transactions

Summary of transactions with all entities with joint control or significant interest

Loans to related parties

2024

Entities with joint control
£

Total
£

Advanced

260,649

260,649

At end of period

260,649

260,649