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REGISTERED NUMBER: 10379489 (England and Wales)


















Audited Financial Statements for the Year Ended 31 December 2024

for

Seneca Learning Ltd

Seneca Learning Ltd (Registered number: 10379489)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Seneca Learning Ltd (Registered number: 10379489)

Balance Sheet
31 December 2024

2024 2023
as restated
Notes £    £   
FIXED ASSETS
Intangible assets 4 596,283 369,312
Tangible assets 5 17,059 31,655
613,342 400,967

CURRENT ASSETS
Debtors 6 549,669 375,671
Cash at bank 2,174,963 1,406,689
2,724,632 1,782,360
CREDITORS
Amounts falling due within one year 7 (2,710,513 ) (2,259,019 )
NET CURRENT ASSETS/(LIABILITIES) 14,119 (476,659 )
TOTAL ASSETS LESS CURRENT LIABILITIES 627,461 (75,692 )

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 2,398,177 2,398,177
Retained earnings (1,770,718 ) (2,473,871 )
627,461 (75,692 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2025 and were signed by:





J W Holmes - Director


Seneca Learning Ltd (Registered number: 10379489)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Seneca Learning Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10379489

Registered office: Thomas House Seneca
Thomas House
84 Eccleston Square
London
SW1V 1PX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with related parties within the group.

Turnover
Turnover represents the total subscriptions received, excluding value added tax, of sales made during the year with adjustments for accrued and deferred income.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development
Expenditure on research is written off in the year in which it is incurred. Expenditure on development costs is written off in the year in which it is incurred or capitalised as an intangible asset if the criteria set out in paragraph 18.8H of FRS102 s.18 is met.

Seneca Learning Ltd (Registered number: 10379489)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 January 2024 581,673
Additions 352,666
At 31 December 2024 934,339
AMORTISATION
At 1 January 2024 212,361
Amortisation for year 125,695
At 31 December 2024 338,056
NET BOOK VALUE
At 31 December 2024 596,283
At 31 December 2023 369,312

Seneca Learning Ltd (Registered number: 10379489)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2024 62,031
Additions 1,582
At 31 December 2024 63,613
DEPRECIATION
At 1 January 2024 30,376
Charge for year 16,178
At 31 December 2024 46,554
NET BOOK VALUE
At 31 December 2024 17,059
At 31 December 2023 31,655

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 359,569 338,785
Amounts owed by group undertakings 2,278 2,278
Other debtors 187,822 34,608
549,669 375,671

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 312,214 131,687
Amounts owed to group undertakings 26,796 26,796
Taxation and social security 157,156 189,017
Other creditors 2,214,347 1,911,519
2,710,513 2,259,019

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jennifer Cessini FCCA (Senior Statutory Auditor)
for and on behalf of Gravita Essex Limited

Seneca Learning Ltd (Registered number: 10379489)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. OTHER FINANCIAL COMMITMENTS

As at 31 December 2024 the company had annual commitments under non-cancellable operating leases, totalling £105,840 (2023 : £100,800)

10. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking of Seneca Learning Limited is GoStudent GmbH, a company incorporated in Austria.

The address is Ernst Melchior-Gasse 20, 6. OG 1020 Wien.

The consolidated financial statements are not available within the public domain.