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REGISTERED NUMBER: 03969036 (England and Wales)



ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

GTSLEARNING INTERNATIONAL LIMITED
GTSLEARNING INTERNATIONAL LIMITED (REGISTERED NUMBER: 03969036)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3
GTSLEARNING INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2014







DIRECTOR: R Adda





SECRETARY: R Adda





REGISTERED OFFICE: Kingfisher House
11 Hoffmanns Way
Chelmsford
Essex
CM1 1GU





REGISTERED NUMBER: 03969036 (England and Wales)





ACCOUNTANTS: Lucentum Ltd
Kingfisher House
11 Hoffmanns Way
Chelmsford
Essex
CM1 1GU
GTSLEARNING INTERNATIONAL LIMITED (REGISTERED NUMBER: 03969036)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2014

31.12.14 31.12.13
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 2,874 2,015
Tangible assets 3 117 708
Investments 4 62 62
3,053 2,785

CURRENT ASSETS
Debtors 33,169 22,806
Cash at bank 2,375 9,734
35,544 32,540
CREDITORS
Amounts falling due within one year 35,540 157,641
NET CURRENT ASSETS/(LIABILITIES) 4 (125,101 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,057

(122,316
)

CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and loss account 3,056 (122,317 )
SHAREHOLDERS' FUNDS 3,057 (122,316 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 11 May 2015 and were signed by:





R Adda - Director

GTSLEARNING INTERNATIONAL LIMITED (REGISTERED NUMBER: 03969036)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance
with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Where the company grants a licence to a third party in respect of the use of course materials, the
entire licence fee is recognised in full at the time the licence is granted. The licence fee is not spread
over the term of the licence as once it has been granted the fee is not refundable and the company has
no future obligations which it must fulfil.

Intangible assets
Development costs in respect of the design of course material are capitalised and written off on a
straight line basis over a period of 3 years.

Goodwill arising on the acquisition of a trade or subsidiary undertaking is the difference between the
fair value of the consideration paid and the fair value of the assets and liabilities acquired. Positive
goodwill is capitalised and amortised through the profit and loss account over the directors' estimate of
its useful economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property - Straight line over 17 years
Fixtures, fittings & equipment - 33% on cost and 25% on cost

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date. However deferred tax assets are only recognised to the extent that the
company anticipates making sufficient taxable profits in the future to absorb the reversal of the
underlying timing differences.

Deferred tax balances are not discounted.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.

Pensions
The company operates a defined contribution pension scheme. Contributions payable for the year are
charged in the profit and loss account.
GTSLEARNING INTERNATIONAL LIMITED (REGISTERED NUMBER: 03969036)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2014

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014 1,066,150
Additions 3,088
At 31 December 2014 1,069,238
AMORTISATION
At 1 January 2014 1,064,135
Amortisation for year 2,229
At 31 December 2014 1,066,364
NET BOOK VALUE

At 31 December 2014 2,874
At 31 December 2013 2,015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014
and 31 December 2014 43,936
DEPRECIATION
At 1 January 2014 43,228
Charge for year 591
At 31 December 2014 43,819
NET BOOK VALUE
At 31 December 2014 117
At 31 December 2013 708

4. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 January 2014
and 31 December 2014 62
NET BOOK VALUE
At 31 December 2014 62
At 31 December 2013 62
GTSLEARNING INTERNATIONAL LIMITED (REGISTERED NUMBER: 03969036)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2014

4. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the
following:

GTS Learning Inc
Country of incorporation: United States of America
Nature of business: Distribution of course material.
%
Class of shares: holding
Ordinary 100.00

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.14 31.12.13
value: £    £   
100 Ordinary 1p 1 1

6. ULTIMATE PARENT COMPANY

The company's immediate and ultimate parent company is GTSLearning Limited.

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