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Company Registration No. 06385754 (England and Wales)
Skills Shop Ltd Unaudited accounts for the year ended 31 March 2023
Skills Shop Ltd Unaudited accounts Contents
Page
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Skills Shop Ltd Company Information for the year ended 31 March 2023
Director
Phillip Newton
Company Number
06385754 (England and Wales)
Registered Office
41 Whinney Ends Barrow In Furness Cumbria LA13 9DW
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Skills Shop Ltd Accountants' report
Accountants' report to the director of Skills Shop Ltd (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2023. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
5 September 2023
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Skills Shop Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
148,799 
156,994 
Current assets
Debtors
7,738 
3,418 
Cash at bank and in hand
12,161 
4,368 
19,899 
7,786 
Creditors: amounts falling due within one year
(138,334)
(74,401)
Net current liabilities
(118,435)
(66,615)
Total assets less current liabilities
30,364 
90,379 
Creditors: amounts falling due after more than one year
(111,167)
(183,681)
Net liabilities
(80,803)
(93,302)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(80,805)
(93,304)
Shareholders' funds
(80,803)
(93,302)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2023 and were signed on its behalf by
Phillip Newton Director Company Registration No. 06385754
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Skills Shop Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Skills Shop Ltd is a private company, limited by shares, registered in England and Wales, registration number 06385754. The registered office is 41 Whinney Ends, Barrow In Furness, Cumbria, LA13 9DW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line Method
Plant & machinery
25% Straight Line Method
Motor vehicles
20% Straight Line Method
Fixtures & fittings
5 year on Straight Line Method
Computer equipment
5 year on Straight Line Method
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Relating to value of website.
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Skills Shop Ltd Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
203,920 
At 31 March 2023
203,920 
Depreciation
At 1 April 2022
46,926 
Charge for the year
8,195 
At 31 March 2023
55,121 
Net book value
At 31 March 2023
148,799 
At 31 March 2022
156,994 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
7
Loans to directors
Philip Newton has advanced the company loan amounts of £33,025. The loan is interest free and carries no charges. Philip Newton is the sole director of the company.
8
Transactions with related parties
David Newton has advanced a loan to the company with amounts outstanding of £77,140. The loan is interest free and carries no charges. David Newton is a connected party to the sole director of the company.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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