Elearningforce UK Limited 31/12/2019 iXBRL

ELEARNINGFORCE UK LTD - Company Information

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Company registration number: 6953125

Elearningforce UK Limited

Unaudited filleted financial statements

31 December 2019

Elearningforce UK Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Elearningforce UK Limited

Directors and other information


	Director	Mr P F Andringa


	Secretary	Mr P F Andringa


	Company number	6953125


	Registered office	Third Floor
		207 Regent Street
		London
		United Kingdom
		W1B 3HH


	Accountants	Lynda Roberts and Co.
		The Old Barn, Tyn y Minffordd
		Llanfwrog
		Ruthin
		Denbighshire
		LL15 2LL

Elearningforce UK Limited

Report to the director on the preparation of the

unaudited statutory financial statements of Elearningforce UK Limited

Year ended 31 December 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elearningforce UK Limited for the year ended 31 December 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the director of Elearningforce UK Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Elearningforce UK Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elearningforce UK Limited and its director as a body for our work or for this report.

It is your duty to ensure that Elearningforce UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elearningforce UK Limited. You consider that Elearningforce UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elearningforce UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lynda Roberts and Co.

Chartered Certified Accountant

The Old Barn, Tyn y Minffordd

Llanfwrog

Ruthin

Denbighshire

LL15 2LL

21 February 2020

Elearningforce UK Limited

Statement of financial position

31 December 2019

		2019		2018
	Note	£	£	£	£

Fixed assets
Tangible assets	4	3,188		3,569
		_______		_______
			3,188		3,569

Current assets
Debtors	5	102,502		101,319
Cash at bank and in hand		484,131		344,594
		_______		_______
		586,633		445,913
Creditors: amounts falling due
within one year	6	( 322,852)		( 211,980)
		_______		_______
Net current assets			263,781		233,933
			_______		_______
Total assets less current liabilities			266,969		237,502

Creditors: amounts falling due
after more than one year	7		( 451,222)		( 427,699)
			_______		_______
Net liabilities			( 184,253)		( 190,197)
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			( 185,253)		( 191,197)
			_______		_______
Shareholders deficit			( 184,253)		( 190,197)
			_______		_______

For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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 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 income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 21 February 2020 , and are signed on behalf of the board by:

Mr P F Andringa

Director

Company registration number: 6953125

Elearningforce UK Limited

Notes to the financial statements

Year ended 31 December 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Elearningforce UK Limited, Third Floor, 207 Regent Street, London, United Kingdom, W1B 3HH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

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

Tangible assets

Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.

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:


Plant and machinery	-	25 %	straight line

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

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 January 2019	17,974	17,974
Additions	1,948	1,948
	_______	_______
At 31 December 2019	19,922	19,922
	_______	_______
Depreciation
At 1 January 2019	14,405	14,405
Charge for the year	2,329	2,329
	_______	_______
At 31 December 2019	16,734	16,734
	_______	_______
Carrying amount
At 31 December 2019	3,188	3,188
	_______	_______
At 31 December 2018	3,569	3,569
	_______	_______

5. Debtors

	2019	2018
	£	£
Trade debtors	38,644	47,224
Other debtors	63,858	54,095
	_______	_______
	102,502	101,319
	_______	_______

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	2,861	3,128
Social security and other taxes	28,474	25,620
Other creditors	291,517	183,232
	_______	_______
	322,852	211,980
	_______	_______

7. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Other creditors	451,222	427,699
	_______	_______

Included within creditors: amounts falling due after more than one year is an amount of £ 451,222 (2018 £ 427,699 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.

Unsecured loan from parent company Elearningforce International Aps.

8. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2019
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr P F Andringa	( 10,581)	-	8,291	( 2,290)
		_______	_______	_______	_______

2018
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr P F Andringa	6,076	( 16,657)	-	( 10,581)
		_______	_______	_______	_______

The director's loan is interest free and repayable on demand. No amounts were written off or waived.

9. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2019	2018	2019	2018
	£	£	£	£
Elearningforce International Aps	29,073	99,640	( 451,222)	( 427,699)
Elearningforce Corporation	7,774	6,500	45,715	36,809
	_______	_______	_______	_______

During the year the company was charged a royalty fee of £125,209 (2018 £171,626) and interest of £12,707 (2018 £19,015) by it's parent company Elearningforce International Aps. Elearningforce Uk Ltd recharges salaries to it's parent company of £108,843 (2018 £91,001).The company also has a connected company under common control based in the US, Elearningforce US. The company has recharged salaries of £7,774 (2018 £6,500).

10. Controlling party

The Company is ultimately controlled by Omni Elearning 2017 Aps as a majority shareholder of Elearningforce International Aps. The registered office is Skt. Annæ Plads 13, 3. 1250 København K,Denmark. CVR 39232766.