NelsonCroom Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03924989

NelsonCroom Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

NelsonCroom Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	6	336,282	320,520
Tangible assets	7	9,262	17,033
		---------	---------
		345,544	337,553

Current assets

Debtors	8	850,517	1,835,942
Cash at bank and in hand		300,565	400,761
		------------	------------
		1,151,082	2,236,703

Creditors: amounts falling due within one year	9	733,313		814,194
		------------		------------
Net current assets			417,769	1,422,509
			---------	------------
Total assets less current liabilities			763,313	1,760,062
			---------	------------
Net assets			763,313	1,760,062
			---------	------------

Capital and reserves

Called up share capital	10	163,384	163,384
Share premium account		143,415	657,517
Profit and loss account		456,514	939,161
		---------	------------
Shareholders funds		763,313	1,760,062
		---------	------------

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 comprehensive income has not been delivered.

For the year ending 31 March 2025 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 .

NelsonCroom Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Luke Dash

Director

Company registration number: 03924989

NelsonCroom Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is N307 Vox Studios, Durham Street, London, SE11 5JH.

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' and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound .

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will be able to discharge its liabilities for a period of at least 12 months from the date of approval of these accounts. The company has recognised a net profit after tax of £503,251 (2024: £250,112) for the year ended 31 March 2025 and, as at that date, had net assets of £763,313 (2024: £1,760,062). The company's forecasts show that it will be able to meet all its financial liabilities over the next 12 months and the company has no external debt. On this basis, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future, and have therefore prepared these financial statements on a going concern basis.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Turnover is recognised in full at the point of sale of a non-cancellable licence that permits the users access to the CPD platform to use at their discretion. Where the licence period is longer than 12 months the turnover relating to future years is recognised as deferred income.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Operating leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date. On a monthly basis, salary costs relating to software development are separately identified and capitalised on a cost basis. Salary costs for publications with an expected economic life of 3 years or more, are separately identified and capitalised on a cost basis in the month of publication.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Software development costs	-	33% straight line
Author fees	-	33% straight line
Course development costs	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% straight line
Equipment	-	25% straight line

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. Recoverable amount is the higher of fair value less costs to sell and value in use. 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 are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Defined contribution plans

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2024: 20 ).

5. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	1,500,000	–
	------------	----

6. Intangible assets

	Software development costs	Author fees	Course development costs	Total
	£	£	£	£
Cost
At 1 April 2024	222,634	135,744	218,575	576,953
Additions	105,434	–	–	105,434
Additions from internal developments	–	–	132,652	132,652
Disposals	( 42,756)	( 53,500)	–	( 96,256)
	---------	---------	---------	---------
At 31 March 2025	285,312	82,244	351,227	718,783
	---------	---------	---------	---------
Amortisation
At 1 April 2024	80,848	86,045	89,540	256,433
Charge for the year	88,108	38,652	95,564	222,324
Disposals	( 42,756)	( 53,500)	–	( 96,256)
	---------	---------	---------	---------
At 31 March 2025	126,200	71,197	185,104	382,501
	---------	---------	---------	---------
Carrying amount
At 31 March 2025	159,112	11,047	166,123	336,282
	---------	---------	---------	---------
At 31 March 2024	141,786	49,699	129,035	320,520
	---------	---------	---------	---------

7. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024	61,450	89,656	151,106
Additions	–	4,950	4,950
Disposals	–	( 17,152)	( 17,152)
	--------	--------	---------
At 31 March 2025	61,450	77,454	138,904
	--------	--------	---------
Depreciation
At 1 April 2024	49,910	84,163	134,073
Charge for the year	9,461	3,260	12,721
Disposals	–	( 17,152)	( 17,152)
	--------	--------	---------
At 31 March 2025	59,371	70,271	129,642
	--------	--------	---------
Carrying amount
At 31 March 2025	2,079	7,183	9,262
	--------	--------	---------
At 31 March 2024	11,540	5,493	17,033
	--------	--------	---------

8. Debtors

	2025	2024
	£	£
Trade debtors	234,678	220,226
Amounts owed by group undertakings	534,000	1,514,164
Other debtors	81,839	101,552
	---------	------------
	850,517	1,835,942
	---------	------------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	49,403	47,842
Corporation tax	174,006	163,745
Social security and other taxes	145,235	154,024
Other creditors	364,669	448,583
	---------	---------
	733,313	814,194
	---------	---------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	163,384	163,384	163,384	163,384
	---------	---------	---------	---------

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	55,795	65,249
	--------	--------

12. Related party transactions

On 26 July 2024 the company made an additional loan of £250,000 to its parent company Cow Corner Investments (No.3) Limited. On 3 September 2024 a dividend of £1,500,000 was declared and along with a loan repayment of £250,000 on 6 September 2024 the loan balance was repaid in full. On 27 January 2025 a loan of £534,000 was loaned to Cow Corner Investments (No.8) Limited. This loan is interest free and unsecured and repayable on demand in full only on the event of a default. No repayments are scheduled. The loan balance at the year end was £534,000 (2024 - £1,500,000). During the year, the company made recharges for salary costs totalling £30,705 (2024 - £70,822) to The Learning People Ltd, a group company. At the end of the year a balance was due from The Learning People Limited of £NIL (2024 - £14,164).

13. Controlling party

In September 2024, the company was transferred from Cow Corner Investments (No.3) Limited to Cow Corner Investments (No.8) Limited in an arm's length transaction involving the purchase by Cow Corner Investments (No.8) Limited, of 145,884 ordinary shares of £1.00 each in the Company, from Cow Corner Investments (No.3) Limited. The immediate parent company is Cow Corner Investments (No.8) Limited . Its registered office is 30 New Road, Brighton, East Sussex BN1 1BN. The ultimate controlling party is M J Rourke.