REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2021 |
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EXPERIO LIFE LIMITED |
REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2021 |
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FOR |
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EXPERIO LIFE LIMITED |
EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2021 |
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Page |
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Abridged Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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ABRIDGED BALANCE SHEET |
30TH SEPTEMBER 2021 |
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30.9.21 | 30.9.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
6 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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ABRIDGED BALANCE SHEET - continued |
30TH SEPTEMBER 2021 |
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30.9.21 | 30.9.20 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Experio Life Limited is a
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Registered number: |
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Registered office: |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Coronavirus Job Retention Scheme grants have been accounted for on an accruals basis. |
The interest paid for by the Government in respect of Coronavirus Business Interruption Loans and Bounce Back Loans is shown in the profit and loss account as Government Grants income and also bank loan interest expenditure. |
Grants received from local councils are accounted for in the profit and loss account when received. |
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Financial instruments |
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially as transaction value and subsequently measured at their settlement value. The company has no bank loans or other more complex financial instruments that require measurement at amortised cost using the effective interest method. |
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EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Going concern |
As part of its programme of diversification, Experio Life had loaned associated companies £167,209 at the balance sheet date. Being two other educational establishments these companies have been curtailed by COVID-19 also but they are securing profitable contracts for 2022. These together with future contracts should enable the loans to be repaid to Experio Life Limited and as such the company remains a going concern. The fall out effect of COVID-19 is not known at this stage so it cannot be guaranteed with any certainty that the loan will be recovered in full. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2021 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1st October 2020 |
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Additions |
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At 30th September 2021 |
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DEPRECIATION |
At 1st October 2020 |
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Charge for year |
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At 30th September 2021 |
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NET BOOK VALUE |
At 30th September 2021 |
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At 30th September 2020 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1st October 2020 |
and 30th September 2021 | 51 |
NET BOOK VALUE |
At 30th September 2021 | 51 |
At 30th September 2020 | 51 |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.9.21 | 30.9.20 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 20,000 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.21 | 30.9.20 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2021 |
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8. | RELATED PARTY DISCLOSURES |
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Included in debtors are loans to Bristol International College Limited and Bristol Education Group Limited. At the balance sheet date the company was owed £167,209 in total. The loans are unsecured and do not attract interest. |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is under the immediate and ultimate control of the directors jointly. |