Silverfin false false 31/12/2023 01/07/2022 31/12/2023 Mr R Burbidge 22/01/2024 Mr I D Murr 01/01/2024 16/02/2007 27 March 2024 The principal activity of the Company during the financial period was the provision of building services. 06096792 2023-12-31 06096792 bus:Director1 2023-12-31 06096792 bus:Director2 2023-12-31 06096792 2022-06-30 06096792 core:CurrentFinancialInstruments 2023-12-31 06096792 core:CurrentFinancialInstruments 2022-06-30 06096792 core:Non-currentFinancialInstruments 2023-12-31 06096792 core:Non-currentFinancialInstruments 2022-06-30 06096792 core:ShareCapital 2023-12-31 06096792 core:ShareCapital 2022-06-30 06096792 core:RetainedEarningsAccumulatedLosses 2023-12-31 06096792 core:RetainedEarningsAccumulatedLosses 2022-06-30 06096792 core:PlantMachinery 2022-06-30 06096792 core:Vehicles 2022-06-30 06096792 core:OfficeEquipment 2022-06-30 06096792 core:PlantMachinery 2023-12-31 06096792 core:Vehicles 2023-12-31 06096792 core:OfficeEquipment 2023-12-31 06096792 bus:OrdinaryShareClass1 2023-12-31 06096792 2022-07-01 2023-12-31 06096792 bus:FilletedAccounts 2022-07-01 2023-12-31 06096792 bus:SmallEntities 2022-07-01 2023-12-31 06096792 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-12-31 06096792 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-12-31 06096792 bus:Director1 2022-07-01 2023-12-31 06096792 bus:Director2 2022-07-01 2023-12-31 06096792 core:PlantMachinery 2022-07-01 2023-12-31 06096792 core:Vehicles 2022-07-01 2023-12-31 06096792 core:OfficeEquipment 2022-07-01 2023-12-31 06096792 2021-07-01 2022-06-30 06096792 core:CurrentFinancialInstruments 2022-07-01 2023-12-31 06096792 core:Non-currentFinancialInstruments 2022-07-01 2023-12-31 06096792 bus:OrdinaryShareClass1 2022-07-01 2023-12-31 06096792 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06096792 (England and Wales)

SKILLFIX CONSTRUCTION LIMITED

Unaudited Financial Statements
For the financial period from 01 July 2022 to 31 December 2023
Pages for filing with the registrar

SKILLFIX CONSTRUCTION LIMITED

Unaudited Financial Statements

For the financial period from 01 July 2022 to 31 December 2023

Contents

SKILLFIX CONSTRUCTION LIMITED

COMPANY INFORMATION

For the financial period from 01 July 2022 to 31 December 2023
SKILLFIX CONSTRUCTION LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 July 2022 to 31 December 2023
DIRECTOR Mr R Burbidge
REGISTERED OFFICE Ground Floor Blackbrook Gate 1
Blackbrook Park Avenue
Taunton
TA1 2PX
United Kingdom
BUSINESS ADDRESS Unit 1 & 2 Monument View
Chelston Business Park
Wellington
Somerset
TA21 9ND
COMPANY NUMBER 06096792 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
SKILLFIX CONSTRUCTION LIMITED

BALANCE SHEET

As at 31 December 2023
SKILLFIX CONSTRUCTION LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 30.06.2022
£ £
Fixed assets
Tangible assets 3 33,968 67,050
33,968 67,050
Current assets
Stocks 10,000 25,000
Debtors 4 1,005,412 1,027,844
Cash at bank and in hand 2,106 142,159
1,017,518 1,195,003
Creditors: amounts falling due within one year 5 ( 504,229) ( 559,616)
Net current assets 513,289 635,387
Total assets less current liabilities 547,257 702,437
Creditors: amounts falling due after more than one year 6 ( 45,000) ( 102,375)
Provision for liabilities 0 ( 4,778)
Net assets 502,257 595,284
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 502,157 595,184
Total shareholders' funds 502,257 595,284

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Skillfix Construction Limited (registered number: 06096792) were approved and authorised for issue by the Director on 27 March 2024. They were signed on its behalf by:

Mr R Burbidge
Director
SKILLFIX CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2022 to 31 December 2023
SKILLFIX CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2022 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Skillfix Construction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom. The principal place of business is Unit 1 & 2 Monument View, Chelston Business Park, Wellington, Somerset, TA21 9ND.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements have been prepared for the period 1 July 2022 to 31 December 2023, following an extension to the company accounting period end, with comparatives for the year ended 30 June 2022.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.

Turnover is recognised in the accounts when the services have been provided.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
01.07.2022 to
31.12.2023
Year ended
30.06.2022
Number Number
Monthly average number of persons employed by the Company during the period, including the director 11 12

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 July 2022 750 125,518 37,749 164,017
Additions 9,172 0 0 9,172
Disposals ( 5,269) ( 55,452) ( 21,018) ( 81,739)
At 31 December 2023 4,653 70,066 16,731 91,450
Accumulated depreciation
At 01 July 2022 270 68,489 28,208 96,967
Charge for the financial period 1,480 15,901 2,379 19,760
Disposals ( 755) ( 43,019) ( 15,471) ( 59,245)
At 31 December 2023 995 41,371 15,116 57,482
Net book value
At 31 December 2023 3,658 28,695 1,615 33,968
At 30 June 2022 480 57,029 9,541 67,050

4. Debtors

31.12.2023 30.06.2022
£ £
Trade debtors 122,692 150,386
Amounts owed by director 640,478 532,079
Amounts recoverable on contracts 11,852 32,047
Prepayments 20,141 72,792
Other debtors 210,249 240,540
1,005,412 1,027,844

5. Creditors: amounts falling due within one year

31.12.2023 30.06.2022
£ £
Bank loans 30,000 30,000
Trade creditors 231,497 228,665
Accruals 3,998 4,427
Corporation tax 26,191 85,740
Other taxation and social security 140,432 191,420
Obligations under finance leases and hire purchase contracts 7,734 10,664
Other creditors 64,377 8,700
504,229 559,616

Creditors falling due within one year include net obligations under finance lease and hire purchase contracts which are secured of £7,734 (2022 - £10,664).

Creditors falling due within one year include bank loans of £30,000 (2022 - £30,000) on which there is a fixed and floating charge on all property and assets held by the company.

6. Creditors: amounts falling due after more than one year

31.12.2023 30.06.2022
£ £
Bank loans 45,000 90,000
Obligations under finance leases and hire purchase contracts 0 12,375
45,000 102,375

Creditors falling due after more than one year include net obligations under finance lease and hire purchase contracts which are secured of £0 (2022 - £12,375).

Creditors falling due after more than one year include bank loans of £45,000 (2022 - £90,000) on which there is a fixed and floating charge on all property and assets held by the company.

7. Called-up share capital

31.12.2023 30.06.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

31.12.2023 30.06.2022
£ £
Director A loan subject to interest at the HMRC approved rate and repayable on demand 638,978 532,079
Director B loan repayable on demand 1,500 0

During the year, £109,689 was advanced to director A and £1,500 was advanced to director B.

During the year, £2,790 was repaid by director A.