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REGISTERED NUMBER: 04952876 (England and Wales)















THE SKILLS PARTNERSHIP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH NOVEMBER 2023






THE SKILLS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04952876)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


THE SKILLS PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: Mr M J Bourke
Mr D A Saunders
Ms M G Blake
Mrs J B Bourke
Ms J M Rosato
Mr J Bishop



SECRETARY: Mr M J Bourke



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 04952876 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Nat West Bank Plc
84 Commercial Road
SWINDON
Wiltshire
SN1 5NW

THE SKILLS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04952876)

STATEMENT OF FINANCIAL POSITION
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 7,735 10,787

CURRENT ASSETS
Debtors 5 138,416 95,851
Cash at bank 210,306 312,668
348,722 408,519
CREDITORS
Amounts falling due within one year 6 26,862 52,372
NET CURRENT ASSETS 321,860 356,147
TOTAL ASSETS LESS CURRENT
LIABILITIES

329,595

366,934

PROVISIONS FOR LIABILITIES 520 1,100
NET ASSETS 329,075 365,834

CAPITAL AND RESERVES
Called up share capital 7 400 400
Retained earnings 328,675 365,434
SHAREHOLDERS' FUNDS 329,075 365,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

THE SKILLS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04952876)

STATEMENT OF FINANCIAL POSITION - continued
30TH NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th February 2024 and were signed on its behalf by:





Ms J M Rosato - Director


THE SKILLS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04952876)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023


1. STATUTORY INFORMATION

The Skills Partnership Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04952876 and the registered office address is 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
Turnover represents invoiced training services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


THE SKILLS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04952876)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 25 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st December 2022 33,846
Additions 1,480
At 30th November 2023 35,326
DEPRECIATION
At 1st December 2022 23,059
Charge for year 4,532
At 30th November 2023 27,591
NET BOOK VALUE
At 30th November 2023 7,735
At 30th November 2022 10,787

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 117,494 84,911
Other debtors 20,922 10,940
138,416 95,851

THE SKILLS PARTNERSHIP LIMITED (REGISTERED NUMBER: 04952876)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14,375 24,703
Taxation and social security 7,045 9,204
Other creditors 5,442 18,465
26,862 52,372

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
160 A Ordinary £1 160 160
240 B Ordinary £1 240 240
400 400