BrightAccountsProduction v1.0.0 v1.0.0 2024-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The Principal activity of the company is a subscription-based platform Wordwall.net which empowers educators to create interactive, customizable teaching materials in minutes - turning static lessons into dynamic, student-centered learning experiences making learning more engaging and effective. 4 September 2025 0 0 5900439 2024-12-31 5900439 2023-12-31 5900439 2022-12-31 5900439 2024-01-01 2024-12-31 5900439 2023-01-01 2023-12-31 5900439 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 5900439 uk-curr:PoundSterling 2024-01-01 2024-12-31 5900439 uk-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 5900439 uk-bus:FullAccounts 2024-01-01 2024-12-31 5900439 uk-core:ShareCapital 2024-12-31 5900439 uk-core:ShareCapital 2023-12-31 5900439 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 5900439 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 5900439 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 5900439 uk-bus:FRS102 2024-01-01 2024-12-31 5900439 uk-core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 5900439 uk-core:CurrentFinancialInstruments 2024-12-31 5900439 uk-core:CurrentFinancialInstruments 2023-12-31 5900439 uk-core:WithinOneYear 2024-12-31 5900439 uk-core:WithinOneYear 2023-12-31 5900439 uk-core:OtherMiscellaneousReserve 2023-12-31 5900439 uk-core:OtherMiscellaneousReserve 2024-01-01 2024-12-31 5900439 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 5900439 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-12-31 5900439 uk-core:OtherDeferredTax 2024-12-31 5900439 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-12-31 5900439 uk-core:OtherMiscellaneousReserve 2024-12-31 5900439 uk-core:ParentEntities 2024-01-01 2024-12-31 5900439 uk-core:UltimateParent 2024-01-01 2024-12-31 5900439 2024-01-01 2024-12-31 5900439 uk-bus:Director2 2024-01-01 2024-12-31 5900439 uk-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: 5900439

Visual Education Limited

Unaudited Financial Statements

for the financial year ended 31 December 2024

Visual Education Limited

Company Registration Number: 5900439

BALANCE SHEET

as at 31 December 2024

|  |  | 2024 |  | 2023
|  | Notes | £ |  | £
|  |  |  |  | as restated
Fixed Assets

Tangible assets |  | 6 | 26,714 |  | 15,306
|  |  | ───────── |  | ─────────
Current Assets

Debtors |  | 7 | 1,965,731 |  | 552,717
Cash at bank and in hand |  |  | 6,080,137 |  | 4,366,298
|  |  | ───────── |  | ─────────
|  |  | 8,045,868 |  | 4,919,015
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 8 | (3,506,536) |  | (4,468,654)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 4,539,332 |  | 450,361
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 4,566,046 |  | 465,667
Provisions for liabilities |  | 10 | (6,273) |  | (3,332)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 4,559,773 |  | 462,335
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 495 |  | 495
Retained earnings |  |  | 4,559,278 |  | 461,840
|  |  | ───────── |  | ─────────
Shareholders' Funds |  |  | 4,559,773 |  | 462,335
|  |  | ═════════ |  | ═════════
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 4 September 2025 and signed on its behalf by

________________________________ |  |  |  |  |
M Esmundo |  |  |  |  |
Director |  |  |  |  |

Visual Education Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

1. | General Information
| Visual Education Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 5900439. The registered office of the company is 33 Glasshouse Street, London, W1B 5DG, England which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Fixtures, fittings and equipment | - | 20% Straight Line
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Employee benefits
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
| Research and development
| Research expenditure is written off to the Profit and Loss Account in the year in which it is incurred.

3. | Employees
| The average monthly number of employees, including directors, during the financial year was 11, (2023 - 9).

4. | Dividends | 2024 | 2023
|  | £ | £
| Dividends on equity shares:
| Ordinary Shares - Interim paid | - | 4,182,255
|  | ═════════ | ═════════

5. | Prior financial year error correction
| The comparative figures for 2023 have been restated to incorporate the under statement of the deferred income figure at 31 December 2023. The correction has resulted in a reduction of the retained earnings at 31 December 2023 of £175,447. The impact on the balance sheet has been an increase in other accruals of £226,057 and a reduction of the corporation tax creditor of £50,610, resulting in a net prior period adjustment of £175,447 which is shown in the reconciliation of shareholders funds.

6. | Tangible assets
|  | Fixtures,
|  | fittings and
|  | equipment
|  | £
| Cost
| At 1 January 2024 | 22,533
| Additions | 17,686
|  | ─────────
| At 31 December 2024 | 40,219
|  | ─────────
| Depreciation
| At 1 January 2024 | 7,227
| Charge for the financial year | 6,278
|  | ─────────
| At 31 December 2024 | 13,505
|  | ─────────
| Net book value
| At 31 December 2024 | 26,714
|  | ═════════
| At 31 December 2023 | 15,306
|  | ═════════

7. | Debtors | 2024 | 2023
|  | £ | £
| Trade debtors | 722,184 | 542,892
| Directors' current accounts (Note 11) | 1,211,936 | -
| Prepayments and accrued income | 31,611 | 9,825
|  | ───────── | ─────────
|  | 1,965,731 | 552,717
|  | ═════════ | ═════════

8. | Creditors | 2024 | 2023
| Amounts falling due within one year | £ | £
| Trade creditors | 85,102 | 90,617
| Taxation (Note 9) | 1,188,151 | 411,868
| Directors' current accounts | - | 2,186,911
| Other creditors | - | 38,298
| Accruals:
| Pension accrual | 2,035 | 2,485
| Other accruals | 2,231,248 | 1,738,475
|  | ───────── | ─────────
|  | 3,506,536 | 4,468,654
|  | ═════════ | ═════════

9. | Taxation | 2024 | 2023
|  | £ | £
| Creditors:
| VAT | 109,790 | 47,006
| Corporation tax | 1,057,141 | 341,655
| PAYE / NI | 21,220 | 23,207
|  | ───────── | ─────────
|  | 1,188,151 | 411,868
|  | ═════════ | ═════════

10. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Total
|  | allowances |
|  | 2024 | 2023
|  | £ | £
| At financial year start | 3,332 | 2,158
| Charged to profit and loss | 2,941 | 1,174
|  | ───────── | ─────────
| At financial year end | 6,273 | 3,332
|  | ═════════ | ═════════

11. | Directors' advances, credits and guarantees
| At the balance sheet date the directors' owed the Company £1,211,936. The loans were were repaid in full on 12th March 2025. Interest has been charged on the loans at a rate of 2.25% per annum.

12. | Parent and ultimate parent company
| Harbour Bidco (UK) Limited purchased 100% of the share capital on 12th March 2025. As of that date the company regards Harbour Bidco (UK) Limited as its parent company.
| The companys ultimate parent undertaking is Harbour Topco (UK) Limited.