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REGISTERED NUMBER: 08388678 (England and Wales)




























Unaudited Financial Statements

for the Year Ended 29 February 2024

for

NowSkills Limited

NowSkills Limited (Registered number: 08388678)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NowSkills Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs K R Norse
M A Norse
P Brunskill
D Wells





REGISTERED OFFICE: Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY





REGISTERED NUMBER: 08388678 (England and Wales)





ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY

NowSkills Limited (Registered number: 08388678)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,552 15,438

CURRENT ASSETS
Debtors 5 266,562 243,594
Cash at bank 88,280 39,778
354,842 283,372
CREDITORS
Amounts falling due within one year 6 145,951 165,494
NET CURRENT ASSETS 208,891 117,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,443

133,316

CREDITORS
Amounts falling due after more than one
year

7

31,250

36,250
NET ASSETS 188,193 97,066

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 188,190 97,063
SHAREHOLDERS' FUNDS 188,193 97,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NowSkills Limited (Registered number: 08388678)

Balance Sheet - continued
29 February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





M A Norse - Director


NowSkills Limited (Registered number: 08388678)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

NowSkills 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2023 - 46 ) .

NowSkills Limited (Registered number: 08388678)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 14,718 41,893 56,611
Additions 849 1,571 2,420
At 29 February 2024 15,567 43,464 59,031
DEPRECIATION
At 1 March 2023 9,673 31,500 41,173
Charge for year 2,725 4,581 7,306
At 29 February 2024 12,398 36,081 48,479
NET BOOK VALUE
At 29 February 2024 3,169 7,383 10,552
At 28 February 2023 5,045 10,393 15,438

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,832 9,017
Other debtors 1,096 1,596
Directors' current accounts 26,117 50,818
Tax 220 220
Accrued income 205,192 169,965
Prepayments 20,105 11,978
266,562 243,594

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 9,693
Other loans - 3,124
Trade creditors 17,008 11,363
Tax 57,318 27,664
Social security and other taxes 31,034 46,889
Other creditors 31,175 43,440
Accrued expenses 4,416 23,321
145,951 165,494

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 20,000 20,000
Bank loans more 5 yr by instal 11,250 16,250
31,250 36,250

NowSkills Limited (Registered number: 08388678)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,250 16,250

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary 0.01p 1p 3 3

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mrs K R Norse and M A Norse
Balance outstanding at start of year 50,958 57,358
Amounts advanced 53,210 53,600
Amounts repaid (78,051 ) (60,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,117 50,958