Registered number
02109497
Skillother Ltd
Unaudited Filleted Accounts
31 May 2024
Skillother Ltd
Registered number: 02109497
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 97,740 69,847
Current assets
Debtors 4 156,913 240,030
Cash at bank and in hand 942,235 897,561
1,099,148 1,137,591
Creditors: amounts falling due within one year 5 (129,591) (200,240)
Net current assets 969,557 937,351
Total assets less current liabilities 1,067,297 1,007,198
Provisions for liabilities (18,571) (15,367)
Net assets 1,048,726 991,831
Capital and reserves
Called up share capital 50 50
Share premium 50 50
Profit and loss account 1,048,626 991,731
Shareholder's funds 1,048,726 991,831
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Hart
Director
Approved by the board on 16 September 2024
Skillother Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a reducing balance basis, as follows:
Motor vehicles 25%
Fixtures, fittings, tools and equipment 25%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 June 2023 1,089 177,487 178,576
Additions - 60,473 60,473
At 31 May 2024 1,089 237,960 239,049
Depreciation
At 1 June 2023 965 107,764 108,729
Charge for the year 31 32,549 32,580
At 31 May 2024 996 140,313 141,309
Net book value
At 31 May 2024 93 97,647 97,740
At 31 May 2023 124 69,723 69,847
4 Debtors 2024 2023
£ £
Trade debtors 156,913 240,030
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 76,957 137,059
Director's Loan 18,989 2,600
Net wages 753 -
Accruals 4,710 4,710
Pension contributions 259 179
Taxation and social security costs 27,923 55,692
129,591 200,240
6 Other information
Skillother Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Dyers Green Farm
Lavenham Road
Great Waldingfield
Sudbury
CO10 0SF
Skillother Ltd 02109497 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Mr C Hart No description of principal activity 02109497 2022-06-01 2023-05-31 02109497 core:WithinOneYear 2023-05-31 02109497 core:ShareCapital 2023-05-31 02109497 core:SharePremium 2023-05-31 02109497 core:RetainedEarningsAccumulatedLosses 2023-05-31 02109497 2023-06-01 2024-05-31 02109497 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02109497 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 02109497 bus:Director40 2023-06-01 2024-05-31 02109497 1 2023-06-01 2024-05-31 02109497 2 2023-06-01 2024-05-31 02109497 core:LandBuildings 2023-06-01 2024-05-31 02109497 core:Vehicles 2023-06-01 2024-05-31 02109497 countries:England 2023-06-01 2024-05-31 02109497 bus:FRS102 2023-06-01 2024-05-31 02109497 bus:FilletedAccounts 2023-06-01 2024-05-31 02109497 2024-05-31 02109497 core:WithinOneYear 2024-05-31 02109497 core:ShareCapital 2024-05-31 02109497 core:SharePremium 2024-05-31 02109497 core:RetainedEarningsAccumulatedLosses 2024-05-31 02109497 core:LandBuildings 2024-05-31 02109497 core:Vehicles 2024-05-31 02109497 2023-05-31 02109497 core:LandBuildings 2023-05-31 02109497 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure