Lanterna Education Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Lanterna Education Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06835000 . The registered office is 1 Cottesbrooke Park, Heartlands Business Park, Daventry, Northamptonshire, NN11 8YL.

The company's principal activity continues to be that of Online Private Tuition.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

33% Straight line

2.5. Financial Instruments

Financial instruments held by the company include trade debtors, trade creditors and loans to related parties. The company does not consider there to be any other class of financial instruments.

2.6. Foreign Currencies

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried forward at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

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Lanterna Education Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2.9. Trade Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

2.10. Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2.11. Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.13. Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other

resources received or receivable, net of the direct costs of issuing the equity instruments.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 103 (2024: 119)

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Lanterna Education Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	242,725
Prepayments and accrued income	10,680	27,570
Other debtors	13,491	22,343
Amounts owed by group undertakings	304,542	808,110

	328,713	1,100,748

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	342	19,432
Corporation tax	25,388	31,149
Other taxes and social security	8,718	4,395
VAT	-	142,387
Other creditors	297,102	1,258,502

	331,550	1,455,865

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

7. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	150,000	190,000

8. Ultimate Controlling Party

The company's immediate parent is Lanterna Europe AB, incorporated in Sweden.

The address of Lanterna Europe AB is:

Sibyllegatan 47

11442 Stockholm

Sweden

The ultimate controlling party is Hugo Wernhoff

9. Audit Information

The auditor's report on the accounts of Lanterna Education Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Statutory Auditor.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Debtors	4	328,713		1,100,748
Cash at bank and in hand		19,068		444,554

		347,781		1,545,302
Creditors: Amounts Falling Due Within One Year	5	(331,550 )		(1,455,865 )

NET CURRENT ASSETS (LIABILITIES)			16,231		89,437

TOTAL ASSETS LESS CURRENT LIABILITIES			16,231		89,437

NET ASSETS			16,231		89,437

CAPITAL AND RESERVES
Called up share capital	6		1,000		1,000
Profit and Loss Account			15,231		88,437

SHAREHOLDERS' FUNDS			16,231		89,437