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REGISTERED NUMBER: 06124368 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Good Skills Training Limited

Good Skills Training Limited (Registered number: 06124368)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Good Skills Training Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: I P Bodsworth
Mrs R A Bodsworth
P A Bodsworth
Miss H L Bodsworth





REGISTERED OFFICE: 2 Bulls Cottage
Smiths Green
Takley
Bishop's Stortford
CM22 6NS





REGISTERED NUMBER: 06124368 (England and Wales)





ACCOUNTANTS: Suffolk Tax Accountants Group
9 Byford Court
Crockatt Road
Hadleigh
Ipswich
Suffolk
IP7 6RD

Good Skills Training Limited (Registered number: 06124368)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,954 1,175
1,954 1,175

CURRENT ASSETS
Stocks 6,110 6,777
Debtors 6 115,102 105,173
Cash at bank 19,184 26,541
140,396 138,491
CREDITORS
Amounts falling due within one year 7 96,411 90,791
NET CURRENT ASSETS 43,985 47,700
TOTAL ASSETS LESS CURRENT LIABILITIES 45,939 48,875

CREDITORS
Amounts falling due after more than one year 8 (29,527 ) (39,491 )

PROVISIONS FOR LIABILITIES 9 (371 ) (8,887 )
NET ASSETS 16,041 497

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 15,941 397
SHAREHOLDERS' FUNDS 16,041 497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Good Skills Training Limited (Registered number: 06124368)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 6 November 2023 and were signed on its behalf by:





I P Bodsworth - Director


Good Skills Training Limited (Registered number: 06124368)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

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

These financial statements have been prepared on a going concern basis, the directors are confident of the companies ability to trade due to the continued support of the companies bankers and un-drawn directors loan fund.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 20% on reducing balance and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Good Skills Training Limited (Registered number: 06124368)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 20,000
AMORTISATION
At 1 March 2022
and 28 February 2023 20,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 14,405
Additions 1,585
At 28 February 2023 15,990
DEPRECIATION
At 1 March 2022 13,230
Charge for year 806
At 28 February 2023 14,036
NET BOOK VALUE
At 28 February 2023 1,954
At 28 February 2022 1,175

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 78,212 73,928
Other debtors 36,890 31,245
115,102 105,173

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 2,777 2,232
Trade creditors 11,728 15,962
Taxation and social security 41,639 32,237
Other creditors 40,267 40,360
96,411 90,791

Good Skills Training Limited (Registered number: 06124368)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Other creditors 29,527 39,491

9. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax
Accelerated capital allowances 371 -
Deferred tax - 8,887
371 8,887

Deferred
tax
£   
Balance at 1 March 2022 8,887
Provided during year (8,516 )
Balance at 28 February 2023 371

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
I P Bodsworth
Balance outstanding at start of year 966 1,686
Amounts advanced 360 -
Amounts repaid - (720 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,326 966