Wahoo Learning Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10018280

Wahoo Learning Limited

Filleted Unaudited Financial Statements

31 December 2024

Wahoo Learning Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Investments	5	3,680,000	3,680,000

Current assets

Debtors	6	97,352	104,608
Cash at bank and in hand		19,899	24,613
		---------	---------
		117,251	129,221

Creditors: amounts falling due within one year	7	3,795	15,655
		---------	---------
Net current assets		113,456	113,566
		------------	------------
Total assets less current liabilities		3,793,456	3,793,566
		------------	------------
Net assets		3,793,456	3,793,566
		------------	------------

Capital and reserves

Called up share capital	8	100	100
Capital redemption reserve		20	20
Profit and loss account		3,793,336	3,793,446
		------------	------------
Shareholders funds		3,793,456	3,793,566
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Wahoo Learning Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:

L.S. Smith

Director

Company registration number: 10018280

Wahoo Learning Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Northern Way, Cropmead, Crewkerne, Somerset, TA18 7HJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation policy

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	3,680,000
	------------
Impairment
At 1 January 2024 and 31 December 2024	–
	------------

Carrying amount
At 31 December 2024	3,680,000
	------------
At 31 December 2023	3,680,000
	------------

At 31 December 2024 the net assets of the wholly owned subsidiary amounted to £3,185,809.

6. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	77,549	23,969
Other debtors	19,803	80,639
	--------	---------
	97,352	104,608
	--------	---------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	–	19,803
	----	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	–	7,250
Social security and other taxes	2,895	7,565
Other creditors	900	840
	-------	--------
	3,795	15,655
	-------	--------

8. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary A shares of £ 1 each	80	80	80	80
Ordinary B shares of £ 1 each	20	20	20	20
	----	----	----	----
	100	100	100	100
	----	----	----	----

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
L.S. Smith	60,836	1,027	( 61,863)	–
	--------	-------	--------	----

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
L.S. Smith	59,534	1,302	–	60,836
	--------	-------	----	--------

Interest was paid at the official rate on the loan to L Smith. This loan was repaid in full during the year.