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REGISTERED NUMBER: 02567448 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Skilled Manufacturing Limited

Skilled Manufacturing Limited (Registered number: 02567448)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Skilled Manufacturing Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr S E Green





SECRETARY: Mr S E Green





REGISTERED OFFICE: Unit 1/3
Vernon Road
Halesowen
West Midlands
B62 8HN





REGISTERED NUMBER: 02567448 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Skilled Manufacturing Limited (Registered number: 02567448)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,179 94,039

CURRENT ASSETS
Stocks 10,000 15,000
Debtors 5 216,057 196,988
Cash at bank 168,542 102,109
394,599 314,097
CREDITORS
Amounts falling due within one year 6 234,710 136,060
NET CURRENT ASSETS 159,889 178,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,068

272,076

CREDITORS
Amounts falling due after more than one
year

7

(14,444

)

(101,099

)

PROVISIONS FOR LIABILITIES (18,045 ) (23,510 )
NET ASSETS 199,579 147,467

CAPITAL AND RESERVES
Called up share capital 9 60 60
Capital redemption reserve 60 60
Retained earnings 199,459 147,347
SHAREHOLDERS' FUNDS 199,579 147,467

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Skilled Manufacturing Limited (Registered number: 02567448)

Balance Sheet - continued
31 December 2023


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 and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





Mr S E Green - Director


Skilled Manufacturing Limited (Registered number: 02567448)

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

1. STATUTORY INFORMATION

Skilled Manufacturing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Skilled Manufacturing Limited (Registered number: 02567448)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as the financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 13 ) .

Skilled Manufacturing Limited (Registered number: 02567448)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 156,421 38,844 126,990 322,255
Additions - 837 - 837
At 31 December 2023 156,421 39,681 126,990 323,092
DEPRECIATION
At 1 January 2023 147,970 36,593 43,653 228,216
Charge for year 1,359 504 20,834 22,697
At 31 December 2023 149,329 37,097 64,487 250,913
NET BOOK VALUE
At 31 December 2023 7,092 2,584 62,503 72,179
At 31 December 2022 8,451 2,251 83,337 94,039

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 126,990
DEPRECIATION
At 1 January 2023 43,653
Charge for year 20,834
At 31 December 2023 64,487
NET BOOK VALUE
At 31 December 2023 62,503
At 31 December 2022 83,337

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 207,277 189,362
Other debtors 8,780 7,626
216,057 196,988

Skilled Manufacturing Limited (Registered number: 02567448)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,723 9,375
Hire purchase contracts 74,934 16,822
Trade creditors 32,665 40,529
Taxation and social security 110,775 64,109
Other creditors 6,613 5,225
234,710 136,060

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,444 26,165
Hire purchase contracts - 74,934
14,444 101,099

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 24,167 35,540
Hire purchase contracts 74,934 91,756
99,101 127,296

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 Ordinary £1 60 60