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Registered number: 04684239 AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 JUNE 2025
AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) REGISTERED NUMBER: 04684239 BALANCE SHEET AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 2,083 |  | 5,413
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 478,347 |  | 350,225 |
Cash at bank and in hand | 6 | 159,820 |  | 231,499 |
|  | 638,167 |  | 581,724 |
Creditors: amounts falling due within one year | 7 | (162,691) |  | (181,363) |
Net current assets |  |  | 475,476 |  | 400,361
Net assets |  |  | 477,559 |  | 405,774
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 258,161 |  | 258,161
Profit and loss account |  |  | 219,398 |  | 147,613
|  |  | 477,559 |  | 405,774
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 comprehensive income 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 by:
................................................ Duncan Angus
Director
Date: 31 March 2026
The notes on pages 2 to 8 form part of these financial statements. Page 1
AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
AKG (UK) Learning Limited is a private company limited by shares incorporated in England and Wales. The Company's registered office is Room 471, Building 4, North London Business Park, Oakleigh Road South, London, United Kingdom, N11 1GN. The Company is engaged in providing training and learning support solutions through both funded and unfunded training schemes. The financial statements are presented in GBP. The figures in the financial statements have been rounded to the nearest £1. 2.Accounting policies
| 2.1 | 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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:
| 2.2 | 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.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 2
AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.6 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.7 | 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. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Page 3
AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.7 | 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:
|  |  |  | Plant & Machinery | - | 4 years straight line
|  |  |  | Computer Hardware | - | 3 years 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.
| 2.8 | 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.
| 2.9 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Page 4
AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.9 | Financial instruments (continued)
Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Page 5
AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.9 | Financial instruments (continued)
Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.10 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 66 (2024 - 62).
4. | Tangible fixed assets
|  | Plant, Machinery and Computer Hardware
|  | £
| Cost |
| At 1 July 2024 | 15,802
| At 30 June 2025 | 15,802
| Depreciation |
| At 1 July 2024 | 10,389
| Charge for the year on owned assets | 3,330
| At 30 June 2025 | 13,719
| Net book value |
| At 30 June 2025 | 2,083
| At 30 June 2024 | 5,413
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AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 26,643 | 69,225
| Amounts owed by group undertakings | 195,943 | 40,946
| Other debtors | 5,945 | 7,216
| Prepayments and accrued income | 249,816 | 232,838
|  | 478,347 | 350,225
| Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 159,820 | 231,499
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 23,737 | 22,434
| Corporation tax | 19,733 | -
| Other taxation and social security | 28,957 | 29,158
| Other creditors | 38,743 | 78,376
| Accruals and deferred income | 51,521 | 51,395
|  | 162,691 | 181,363
| The Company is party to a Debenture, dated 20 May 2021, which includes Fixed Charges; First Fixed Charges; and a First Floating Charge, given by AKG (UK) Learning Limited to the Commonwealth Bank of Australia. The Company has another registered charge to the Commonwealth Bank of Australia which contains a fixed charge, floating charge and a negative pledge. There exists a security agreement between AKG (UK) Learning Limited, AKG (UK) Employment Limited, and The Commonwealth Bank of Australia for the benefit of certain secured creditors within the wider Angus Knight Pty Ltd group, containing fixed charges and floating charges.
Page 7
AKG (UK) LEARNING LIMITED (FORMERLY SIMPLY ONE STOP LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
8. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 258,161 (2024 - 258,161) Ordinary shares of £1.00 each | 258,161 | 258,161
9. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £16,243 (2024 - £51,761) were payable to the fund at the balance sheet date and are included in creditors.
10. | Related party transactions
| The Company is a wholly owned subsidiary of AngusKnight Pty Limited and as such has taken advantage of the exemption permitted by Section 33 'Related party disclosures' not to provide disclosures of transactions entered into with other wholly owned members of the group.
11. | Controlling party
The Company’s immediate parent company is AngusKnight Pty Ltd, a company registered in Australia. The Company’s ultimate controlling party is Duncan James Angus by virtue of his shareholding in AngusKnight Pty Ltd. The financial performance and financial position of AKG (UK) Learning Limited is included in the consolidation of AngusKnight Pty Ltd. The registered office of AngusKnight Pty Ltd is Level 2, 10 Bridge Street, Sydney, NSW 2000.
12. | Auditor's information
The auditor's report on the financial statements for the year ended 30 June 2025 was unqualified. The audit report was signed on 31 March 2026 by Simon Knibbs MA FCA (Senior Statutory Auditor) on behalf of MHA.
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