Company registration number 05313140 (England and Wales)
NEW SKILLS CONSULTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NEW SKILLS CONSULTING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NEW SKILLS CONSULTING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,120
300
Current assets
Debtors
4
68,097
106,625
Cash at bank and in hand
252,019
372,249
320,116
478,874
Creditors: amounts falling due within one year
5
(31,934)
(75,327)
Net current assets
288,182
403,547
Net assets
289,302
403,847
Capital and reserves
Called up share capital
7
140
140
Share premium account
7,254
7,254
Capital redemption reserve
60
60
Profit and loss reserves
281,848
396,393
Total equity
289,302
403,847
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
Mr P Graham
Director
Company Registration No. 05313140
NEW SKILLS CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
New Skills Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Flaxby Close, Gosforth, Newcastle Upon Tyne, Tyne And Wear, United Kingdom, NE3 5LP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value of work performed during the year by reference to the total sales value and stage of completion of contracts. Turnover is net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
NEW SKILLS CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Tangible fixed assets
Fixtures,fittings & equipment
£
Cost
At 1 January 2023
31,455
Additions
1,338
At 31 December 2023
32,793
Depreciation and impairment
At 1 January 2023
31,155
Depreciation charged in the year
518
At 31 December 2023
31,673
Carrying amount
At 31 December 2023
1,120
At 31 December 2022
300
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
66,903
104,696
Other debtors
1,194
1,929
68,097
106,625
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,075
3,737
Corporation tax
1,038
29,922
Other taxation and social security
25,688
29,992
Other creditors
603
958
Accruals and deferred income
3,530
10,718
31,934
75,327
NEW SKILLS CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Pension costs
2023
2022
Defined contribution
£
£
Contributions payable by the company for the year
242,079
130,244
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
102
102
64
102
A Ordinary of £1 each
38
38
38
38
B Ordinary of £1 each
-
-
38
-
140
140
140
140
8
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
3,960