ACCOUNTS - Final Accounts preparation

Registered number: 12021189

LEARN IT ONLINE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

LEARN IT ONLINE LIMITED

REGISTERED NUMBER: 12021189

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		62,880		10,417
			62,880		10,417
Current assets
Debtors: amounts falling due within one year	5	32,235		13,801
Cash at bank and in hand		2,819		63,071
		35,054		76,872
Creditors: amounts falling due within one year	6	(299,810)		(239,292)
Net current liabilities			(264,756)		(162,420)
Total assets less current liabilities			(201,876)		(152,003)

Net liabilities			(201,876)		(152,003)

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		(201,877)	(152,004)
		(201,876)	(152,003)

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LEARN IT ONLINE LIMITED

REGISTERED NUMBER: 12021189

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 August 2025.

W van Rijn

Director

The notes on pages 3 to 6 form part of these financial statements.

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LEARN IT ONLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

1.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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LEARN IT ONLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

1.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Other fixed assets

20%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

1.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	General information

Learn IT Online Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 12021189
The address of its Registered office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

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LEARN IT ONLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Other fixed assets
		£
	Cost or valuation
	At 1 January 2024	125,000
	Additions	78,600
	At 31 December 2024	203,600
	Depreciation
	At 1 January 2024	114,583
	Charge for the year on owned assets	26,137
	At 31 December 2024	140,720
	Net book value
	At 31 December 2024	62,880
	At 31 December 2023	10,417

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LEARN IT ONLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	19,693	13,801
Other debtors	12,542	-
	32,235	13,801

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	48	-
Other taxation and social security	-	2,500
Amounts due to related parties	278,262	235,592
Accruals and deferred income	21,500	1,200
	299,810	239,292

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 (2023 - 1) Ordinary share of £1.00	1	1

8.	Related party transactions
	At the balance sheet date, the company owed £191,892 (2023: £235,592) to Leyden Delta BV, a fellow subsidiary. The company also owed £86,370 (2023: £Nil) to Leyden Pharmaceutical BV, the parent company. Both loans are provided with an interest rate of 3% and are repayable on demand.

9.	Controlling party

The controlling party of the company is Leyden Pharmaceutical BV, a company registered in the Netherlands. The ultimate controlling parties are W M van Rijn and M Helthuis-Jollie by virtue of their shareholdings in Leyden Pharmaceutical BV.

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