REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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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 2020 |
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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 2020 |
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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 2020 |
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30.9.20 | 30.9.19 |
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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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 2020 |
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30.9.20 | 30.9.19 |
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 2020 |
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1. | STATUTORY INFORMATION |
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Experio Life Limited is a
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Registered number: | 03921008 |
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Registered office: | The Foundry |
9 Park Lane |
Puckeridge |
Hertfordshire |
SG11 1RL |
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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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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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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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EXPERIO LIFE LIMITED (REGISTERED NUMBER: 03921008) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
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2. | ACCOUNTING POLICIES - continued |
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 an associated company £138,125 at the balance sheet date. Being another educational establishment this company has been curtailed by COVID-19 also but is securing profitable contracts for 2022. These together with future contracts should enable the loan 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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The company made minimal sales during the year ended 30th September 2020 and has not made any to date in the current financial year. This has been as a direct result of COVID-19 and the restrictions on travel and establishments this has brought. With the help of the Coronavirus Business Interruption Loan Scheme the company has kept going. The repayments on the Business Interruption Loan commenced in December 2020. |
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Government grants |
Coronavirus Job Retention Scheme grants they have been accounted for on an accruals basis. |
The interest paid for by the Government in respect of Bounce Back Loans is shown in the profit and loss account as Government Grants income and also bank loan interest expenditure. |
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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 2020 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st October 2019 |
and 30th September 2020 |
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DEPRECIATION |
At 1st October 2019 |
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Charge for year |
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At 30th September 2020 |
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NET BOOK VALUE |
At 30th September 2020 |
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At 30th September 2019 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1st October 2019 | 1 |
Additions | 50 |
At 30th September 2020 | 51 |
NET BOOK VALUE |
At 30th September 2020 | 51 |
At 30th September 2019 | 1 |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.9.20 | 30.9.19 |
£ | £ |
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 | 30.9.20 | 30.9.19 |
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 2020 |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is under the immediate and ultimate control of the directors jointly. |