REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
EDUCATIUS UK LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
FOR |
EDUCATIUS UK LIMITED |
EDUCATIUS UK LIMITED (REGISTERED NUMBER: 08555156) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
EDUCATIUS UK LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Chandler House |
7 Ferry Road Office Park |
Riversway |
Preston |
Lancashire |
PR2 2YH |
EDUCATIUS UK LIMITED (REGISTERED NUMBER: 08555156) |
BALANCE SHEET |
31 AUGUST 2022 |
31/8/22 | 31/8/21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 6 |
Debtors: amounts falling due after more than one year |
6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Profit and Loss and Other Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EDUCATIUS UK LIMITED (REGISTERED NUMBER: 08555156) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2022 |
1. | STATUTORY INFORMATION |
Educatius UK Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The Company's ultimate parent undertaking, Trill Invest AB, includes the Company in its consolidated financial statements. The consolidated financial statements of Trill Invest AB are prepared in accordance with International Financial Reporting Standards as adopted by the EU, are available to the public and may be obtained from the address given in note 17. In these financial statements, the company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under FRS 102 in respect of the following disclosures: |
- Reconciliation of the number of shares outstanding from the beginning to the end of the period; |
- Cash Flow Statement and related notes; and |
- Key Management Personnel compensation. |
The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover 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. Turnover is measured at the fair value of the consideration received or receivable, net of discounts, rebates, Value Added Tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value, over their expected useful lives on the following basis; |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. |
Depreciation is provided on the following basis: |
Plant and machinery - 20% reducing balance |
Fixtures and fittings - 20% reducing balance |
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 the Statement of Profit and Loss and Other Comprehensive Income. |
EDUCATIUS UK LIMITED (REGISTERED NUMBER: 08555156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Tax is recognised in the Statement of Profit and Loss and Other Comprehensive Income, 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. |
Foreign currencies |
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
At each period end, foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. |
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Profit and Loss and Other Comprehensive Income except where deferred in Other Comprehensive Income as qualifying cash flow hedges. |
Operating leases: the company as lessee |
Rentals paid under operating leases are charged to the Statement of Profit and Loss and Other Comprehensive Income on a straight line basis over the lease term. |
Pension costs and other post-retirement benefits |
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 the Statement of Profit and Loss and Other Comprehensive Income 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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
EDUCATIUS UK LIMITED (REGISTERED NUMBER: 08555156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The Directors, having reviewed the forecast results and financial position of the Company, are satisfied that the Company has sufficient financial support and resources to continue in operation for the foreseeable future, Therefore they continue to adopt the going concern basis of accounting in preparing the financial statements. |
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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | AUDITORS' REMUNERATION |
31/8/22 | 31/8/21 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
9,000 |
9,000 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 September 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 August 2022 |
DEPRECIATION |
At 1 September 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 August 2022 |
NET BOOK VALUE |
At 31 August 2022 |
At 31 August 2021 |
EDUCATIUS UK LIMITED (REGISTERED NUMBER: 08555156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
6. | DEBTORS |
31/8/22 | 31/8/21 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Directors' current accounts | - | 27,139 |
Tax |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/22 | 31/8/21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Accruals and deferred income |
8. | PROVISIONS FOR LIABILITIES |
31/8/22 | 31/8/21 |
£ | £ |
Deferred tax | 1,515 | 1,767 |
Deferred |
tax |
£ |
Balance at 1 September 2021 |
Credit to Statement of Profit and Loss and Other Comprehensive Income during year |
( |
) |
Balance at 31 August 2022 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/8/22 | 31/8/21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
EDUCATIUS UK LIMITED (REGISTERED NUMBER: 08555156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2022 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 September 2021 |
Profit for the year |
Dividends | ( |
) |
At 31 August 2022 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | PENSION COMMITMENTS |
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension charge represents contributions paid by the entity to the fund and amounted to £20,302 (2021: £20,773). |
13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 August 2022 and 31 August 2021: |
31/8/22 | 31/8/21 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
14. | ULTIMATE CONTROLLING PARTY |
As at 31 August 2022, the company was controlled by Trill Invest AB, a Swedish limited liability company with registration number 556759-3123 (through Educatius Group AB). |
Educatius Group AB, a Swedish limited liability company with registration number 556721-0819, is the immediate parent of the company. |
The largest group in which the results of the company were consolidated is that headed by Trill Invest AB. The consolidated financial statements of the group are available to the public and may be obtained from Sveavagen 17, 111 57 Stockholm, Sweden. |