MYONLINESCHOOL LTD


Directors	ARMFIELD, David Christopher
	BRISCOE, Elspeth Alexandra
	COOKE, Justin Alex Edward
	FISHLEIGH, Mark Edward
	FORRESTAL, Alison Mary
	ROSEWARNE, Daniel Paul


Registered Address	1 St Aldates
	St. Aldates
	Oxford
	OX1 1DE


Registered Number	08877754 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		20,000		40,000
Tangible assets	4		309		1,886
Investments	5		23,500		-
			43,809		41,886
Current assets
Debtors		4,814		443,162
Cash at bank and on hand		305,601		341,907
		310,415		785,069
Creditors amounts falling due within one year		(355,472)		(683,856)
Net current assets (liabilities)			(45,057)		101,213
Total assets less current liabilities			(1,248)		143,099
Creditors amounts falling due after one year			(27,980)		(27,904)
Net assets			(29,228)		115,195
Capital and reserves
Called up share capital			3,580,506		2,702,888
Share premium			3,837,232		3,845,523
Profit and loss account			(7,446,966)		(6,433,216)
Shareholders' funds			(29,228)		115,195

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 1 August 2025, and are signed on its behalf by:

BRISCOE, Elspeth Alexandra
Director
Registered Company No. 08877754

MYONLINESCHOOL LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Going concern
	The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore adopted the going concern basis in preparing the financial statements. In considering the adequacy of the company’s financial resources the directors have taken into account the fact that in April 2025, there was a successful equity raise of £554,487 (£500,000 net of fees) which additional funding will support the company in its management of contract closures the timing of which are unpredictable. In addition, the Directors have considered that, consistent with the growth profile of a technology scale-up, the company is investing in commercial partnerships and product development to support long-term value creation. Several B2B projects, developed in collaboration with key stakeholders, are approaching go-live and are expected to generate new revenue streams, anticipated to take the business beyond cash break even. However, the level of dependency on third-party contracting processes and the unpredictability of their timing will continue to present a risk to the company typical of this stage of a business’s development. The directors, accordingly, continue to monitor the adequacy of the company’s financial resources and believe that, in the event of significant delays to anticipated contract signings and profits flowing therefrom, sufficient options are available to manage the company’s cash flow requirements going forward.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore adopted the going concern basis in preparing the financial statements.

In considering the adequacy of the company’s financial resources the directors have taken into account the fact that in April 2025, there was a successful equity raise of £554,487 (£500,000 net of fees) which additional funding will support the company in its management of contract closures the timing of which are unpredictable.

In addition, the Directors have considered that, consistent with the growth profile of a technology scale-up, the company is investing in commercial partnerships and product development to support long-term value creation. Several B2B projects, developed in collaboration with key stakeholders, are approaching go-live and are expected to generate new revenue streams, anticipated to take the business beyond cash break even. However, the level of dependency on third-party contracting processes and the unpredictability of their timing will continue to present a risk to the company typical of this stage of a business’s development. The directors, accordingly, continue to monitor the adequacy of the company’s financial resources and believe that, in the event of significant delays to anticipated contract signings and profits flowing therefrom, sufficient options are available to manage the company’s cash flow requirements going forward.

	Revenue from sale of goods
	Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Relating to on-line B2C sales, for purchases made prior to 16 November 2023, revenue is deferred for courses not started within 3 years of the purchase date. For courses sold from November 2023, revenue is deferred for courses not started within 1 year of the purchase date. Production costs incurred in producing online courses are expensed to profit and loss account over a three-year period. Relating to sales activity with other businesses, revenue is deferred until the associated activity is complete. Production costs associated with these activities are recognised at the same time as and to align with revenue recognition.

Revenue from sale of goods

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Relating to on-line B2C sales, for purchases made prior to 16 November 2023, revenue is deferred for courses not started within 3 years of the purchase date. For courses sold from November 2023, revenue is deferred for courses not started within 1 year of the purchase date.

Production costs incurred in producing online courses are expensed to profit and loss account over a three-year period.

Relating to sales activity with other businesses, revenue is deferred until the associated activity is complete.

Production costs associated with these activities are recognised at the same time as and to align with revenue recognition.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Intangible assets

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

	Tangible fixed assets and depreciation
	Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over theiruseful lives on the following bases: Fixtures and fittings 20% Reducing balance Computer equipment 20% to 33% Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Tangible fixed assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over theiruseful lives on the following bases:

Fixtures and fittings 20% Reducing balance
Computer equipment 20% to 33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	10		10

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 January 24	200,615
	At 31 December 24	200,615
	Amortisation and impairment
	At 01 January 24	160,615
	Charge for year	20,000
	At 31 December 24	180,615
	Net book value
	At 31 December 24	20,000
	At 31 December 23	40,000

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 24	24,072
	At 31 December 24	24,072
	Depreciation and impairment
	At 01 January 24	22,186
	Charge for year	1,577
	At 31 December 24	23,763
	Net book value
	At 31 December 24	309
	At 31 December 23	1,886

5.	Fixed asset investments
	The Fixed Asset investment balance represents 250 ordinary shares in Polyatrics Limited. A compamy registered in England & Wales, company no 13867720.

		Total
		£
	Cost or valuation
	Additions	23,500
	At 31 December 24	23,500
	Net book value
	At 31 December 24	23,500
	At 31 December 23	-

6.	Events after reporting date
	In April 2025 an equity funding round was completed raising £554,487 which net of fees was £500,000.