SKILLED UP C.I.C.

Company Registration Number:
11678648 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

SKILLED UP C.I.C.

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SKILLED UP C.I.C.

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 5,787 1,927
Cash at bank and in hand: 194 106
Total current assets: 5,981 2,033
Creditors: amounts falling due within one year: 4 ( 23,235 ) ( 1,815 )
Net current assets (liabilities): (17,254) 218
Total assets less current liabilities: (17,254) 218
Total net assets (liabilities): (17,254) 218
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (17,255 ) 217
Total Shareholders' funds: ( 17,254 ) 218

The notes form part of these financial statements

SKILLED UP C.I.C.

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 August 2024
and signed on behalf of the board by:

Name: Ms Laura Knight
Status: Director

The notes form part of these financial statements

SKILLED UP C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Other accounting policies

    Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

SKILLED UP C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

SKILLED UP C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Debtors

2023 2022
£ £
Other debtors 5,787 1,927
Total 5,787 1,927

SKILLED UP C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 9,471 51
Accruals and deferred income 13,764 1,764
Total 23,235 1,815

SKILLED UP C.I.C.

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Advance of directors remuneration
£
Balance at 30 November 2022 1,926
Advances or credits made: 25,437
Advances or credits repaid: 21,577
Balance at 30 November 2023 5,786

COMMUNITY INTEREST ANNUAL REPORT

SKILLED UP C.I.C.

Company Number: 11678648 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

Skilled Up delivers workshops, training & mentoring for individuals to boost their employability and confidence in the job search process to increase their chances of receiving a job offer. The format of the sessions is designed around the needs of the individuals and can include one-to-one career coaching, mentoring, CV & Interview help, or attending a mock assessment centre. As a Social Enterprise, so for every paid assessment centre or training workshop we carry out, we provide a free session to people in need of help achieving a job offer.

Consultation with stakeholders

Following all sessions, we ask for feedback, and if there are any other elements they would like to have experienced or learnt. The sessions are consistently reported as “very useful”, “a great window into the world of work”, and leaving them feeling “much more prepared and confident”. The universities that have received free sessions are exploring funding options to be able to continue them as they are deemed incredibly helpful for the student's preparedness for work.

Directors' remuneration

A total remuneration of £23,872 was received cumulatively between both directors.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
29 August 2024

And signed on behalf of the board by:
Name: Ms Laura Knight
Status: Director