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The Skills Centre Limited

Financial Statements for the Year Ended 31 July 2023






The Skills Centre Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J R Howlin
A J Chapple





REGISTERED OFFICE: 7 Cae Gwyrdd
Green Meadow Springs
Cardiff
CF15 7AB





REGISTERED NUMBER: 11771542 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Skills Centre Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Skills Centre Limited for the year ended 31 July 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Skills Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Skills Centre Limited and state those matters that we have agreed to state to the Board of Directors of The Skills Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Skills Centre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Skills Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Skills Centre Limited. You consider that The Skills Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Skills Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


16 April 2024

The Skills Centre Limited (Registered number: 11771542)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 3 332,109 332,039

CURRENT ASSETS
Debtors 4 705,850 1,009,741
Cash at bank 180,585 113,698
886,435 1,123,439
CREDITORS
Amounts falling due within one year 5 - 35,562
NET CURRENT ASSETS 886,435 1,087,877
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,218,544

1,419,916

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,218,444 1,419,816
SHAREHOLDERS' FUNDS 1,218,544 1,419,916

The Skills Centre Limited (Registered number: 11771542)

Balance Sheet - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





J R Howlin - Director


The Skills Centre Limited (Registered number: 11771542)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

3. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2022 332,039
Additions 70
At 31 July 2023 332,109
NET BOOK VALUE
At 31 July 2023 332,109
At 31 July 2022 332,039

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 601,528 978,977
Other debtors & prepayments 104,322 30,764
705,850 1,009,741

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors & accruals - 35,562

The Skills Centre Limited (Registered number: 11771542)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


6. TOTAL FINANCIAL COMMITMENTS

There is an unlimited inter company cross guarantee between this company and its fellow group companies. At the balance sheet date the amount of net bank borrowings covered by this guarantee in respect of these companies was £nil.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There was an overdrawn directors loan account of £58,660 at the balance sheet date. This was was repaid within 9 months of the year end.