| REGISTERED NUMBER: |
| Audited Financial Statements for the Year Ended 31 December 2024 |
| for |
| Seneca Learning Ltd |
| REGISTERED NUMBER: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | (2,473,871 | ) |
| ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| 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 |
| Registered number: |
| Registered office: |
| 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. |
| Tangible fixed assets |
| Computer equipment | - |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Development |
| costs |
| £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| AMORTISATION |
| At 1 January 2024 |
| Amortisation for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 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. |