| Group Ed Limited |
| Notes to the Accounts |
| for the year ended 31 August 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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The company is reliant on the ongoing support of it's majority shareholder, who is also a director and he has confirmed that this support will be continued for the foreseeable future and therefore the accounts have been prepared on the basis of a going concern. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Property, plant & equipment |
over 3 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
7 |
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7 |
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| 3 |
Intangible fixed assets |
£ |
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Software development costs |
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Cost |
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At 1 September 2024 |
332,765 |
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Additions |
369,905 |
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At 31 August 2025 |
702,670 |
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Amortisation |
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Provided during the year |
66,553 |
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At 31 August 2025 |
66,553 |
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Net book value |
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At 31 August 2025 |
636,117 |
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At 31 August 2024 |
332,765 |
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Software development was being written off in equal annual instalments over its estimated economic life of 5 years - no amortisation is charged in the year the expenditure is incurred. |
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| 4 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 September 2024 |
37,072 |
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Additions |
1,239 |
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At 31 August 2025 |
38,311 |
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Depreciation |
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At 1 September 2024 |
16,057 |
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Charge for the year |
11,951 |
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At 31 August 2025 |
28,008 |
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Net book value |
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At 31 August 2025 |
10,303 |
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At 31 August 2024 |
21,015 |
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| 5 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Trade debtors |
2,700 |
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- |
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Deferred tax asset |
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80,432 |
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80,432 |
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Other debtors |
775 |
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3,023 |
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83,907 |
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83,455 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Trade creditors |
2,394 |
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7,278 |
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Amounts owed to related party undertakings |
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100,324 |
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69,691 |
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Taxation and social security costs |
10,779 |
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14,426 |
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Other creditors |
25,916 |
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3,875 |
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139,413 |
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95,270 |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
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2024 |
| £ |
£ |
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Amounts owed to related party undertakings |
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1,249,393 |
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1,249,393 |
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Loan from directors to the company |
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869,245 |
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869,245 |
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2,118,638 |
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2,118,638 |
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| 8 |
Loans |
2025 |
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2024 |
| £ |
£ |
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Creditors include: |
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Amounts payable otherwise than by instalment falling due for payment after more than five years |
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750,000 |
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750,000 |
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Instalments falling due for payment after more than five years |
940,589 |
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940,589 |
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1,690,589 |
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1,690,589 |
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The loan provided by CAL Properties Ltd £1,249,393 had the following terms:
1. Interest & capital free repayment period from December 2023 to August 2025,
2. Interest repayments from September 2025 to August 2026 at the rate of 2.75% above Bank of England Base Rate
3. Capital & Interest repayments from September 2026 over 10 year period ending in August 2036.
The terms of the loan provided by CAL Properties have been deferred in 2025/26 as the business continues its software development phase and additional loan funding has been provided with no interest repayments being made.
The loan provided by the majority shareholder & director, Mr A M Cooksley, has no fixed repayment terms and the director has confirmed that he does not anticipate £750,000 of the balance owing to be repaid within 5 years of the balance sheet date. There is no interest charged by the director on this loan. |
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| 9 |
Related party transactions |
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During the year, the company continued to benefit from services provided from a company with common directors and shareholders, iTeach (Wales) Limited. At 31 August 2025, the balance owing to iTeach (Wales) Limited was £100,324 (2024: £69,628. |
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| 10 |
Controlling party |
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The company is controlled by Mr A M Cooksley by virtue of his shareholding. |
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| 11 |
Other information |
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Group Ed Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Ocean Park House |
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East Tyndall Street |
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Cardiff |
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CF24 5ET |