Myonlineschool Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08877754 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Myonlineschool Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

E A Briscoe

A Maguire

D P Rosewarne

J Cadell

J M Eden

REGISTERED OFFICE:

Oxford Centre for Innovation

New Road

Oxford

OX1 1BY

REGISTERED NUMBER:

08877754 (England and Wales)

ACCOUNTANTS:

ansteybond

1-2 Charterhouse Mews

London

EC1M 6BB

FIXED ASSETS

Intangible assets

4

160,492

180,553

Tangible assets

5

6,368

7,069

166,860

187,622

CURRENT ASSETS

Debtors

6

14,447

14,242

Cash at bank

238,547

42,658

252,994

56,900

CREDITORS

Amounts falling due within one year

7

(79,540

)

(77,694

)

NET CURRENT ASSETS/(LIABILITIES)

173,454

(20,794

)

TOTAL ASSETS LESS CURRENT LIABILITIES

340,314

166,828

CREDITORS

Amounts falling due after more than one year

8

-

(406,658

)

NET ASSETS/(LIABILITIES)

340,314

(239,830

)

CAPITAL AND RESERVES

Called up share capital

513,422

217,083

Share premium

1,044,684

99,914

Capital redemption reserve

284,856

284,856

Retained earnings

(1,502,648

)

(841,683

)

SHAREHOLDERS' FUNDS

340,314

(239,830

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 September 2018 and were signed on its behalf by:

E A Briscoe - Director

1.	STATUTORY INFORMATION

Myonlineschool Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the proportion of course fees recognised when the customer redeems an online course, net of

VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Equipment - 20% reducing balance.

Website and Video production - 20% straight line.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2017

and 31 December 2017

200,000

615

200,615

AMORTISATION

At 1 January 2017

20,000

62

20,062

Charge for year

20,000

61

20,061

At 31 December 2017

40,000

123

40,123

NET BOOK VALUE

At 31 December 2017

160,000

492

160,492

At 31 December 2016

180,000

553

180,553

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

72,931

Additions

1,775

At 31 December 2017

74,706

DEPRECIATION

At 1 January 2017

65,862

Charge for year

2,476

At 31 December 2017

68,338

NET BOOK VALUE

At 31 December 2017

6,368

At 31 December 2016

7,069

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Amounts owed by group undertakings

14,242

14,242

Other debtors

205

-

14,447

14,242

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

5,581

18,669

Taxation and social security

22

8,605

Other creditors

73,937

50,420

79,540

77,694

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Other creditors

-

406,658

9.	FINANCIAL INSTRUMENTS

10.	RELATED PARTY DISCLOSURES

At the balance sheet date, included within other creditors, is an amount of £1,055 (2016 : £1,055), owed to Ms E

Briscoe, the director of the company.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is E A Briscoe.

12.	DEFERRED INCOME

During the year, the Company deferred income equating to £69,684 (2016 : £46,779). This amount is in relation to

educational courses which have been booked, but are not due to be delivered until 2018.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Myonlineschool Ltd for the year ended 31 December 2017 which comprise the Income Statement, Balance

Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Myonlineschool Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Myonlineschool Ltd and state those matters that we have agreed to state to the Board of Directors of Myonlineschool Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Myonlineschool Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Myonlineschool Ltd 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 loss of Myonlineschool Ltd. You consider that Myonlineschool Ltd 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 Myonlineschool Ltd. 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.

ansteybond

1-2 Charterhouse Mews

London

EC1M 6BB

28 September 2018