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COMPANY REGISTRATION NUMBER: 09780282
Skillwise Investments Ltd
Filleted Unaudited Financial Statements
31 March 2024
Skillwise Investments Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Stocks
7,555
7,555
Debtors
5
1
1
Cash at bank and in hand
22
-------
-------
7,578
7,556
Creditors: amounts falling due within one year
6
( 36,342)
( 34,730)
--------
--------
Net current liabilities
( 28,764)
( 27,174)
--------
--------
Total assets less current liabilities
( 28,764)
( 27,174)
--------
--------
Net liabilities
( 28,764)
( 27,174)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 28,765)
( 27,175)
--------
--------
Shareholders deficit
( 28,764)
( 27,174)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
J P Greenhalgh
Director
Company registration number: 09780282
Skillwise Investments Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Venture House, Arlington Square, Downshire Way, Bracknell, Berkshire, RG12 1WA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The shareholders have confirmed they will continue to support the company for a minimum of 12 months from the date of approval of the accounts.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024
2023
£
£
Other debtors
1
1
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
88
Amounts owed to group undertakings and undertakings in which the company has a participating interest
33,892
Other creditors
36,342
750
--------
--------
36,342
34,730
--------
--------