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Company registration number: 07028444







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SKIM LONDON LIMITED






































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SKIM LONDON LIMITED
REGISTERED NUMBER:07028444



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,785
20,590

  
14,785
20,590

Current assets
  

Debtors
 5 
641,316
612,821

Cash at bank and in hand
  
69,927
52,347

  
711,243
665,168

Creditors: amounts falling due within one year
 6 
(226,960)
(273,242)

Net current assets
  
 
 
484,283
 
 
391,926

Total assets less current liabilities
  
499,068
412,516

  

Net assets
  
499,068
412,516


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
498,068
411,516

  
499,068
412,516


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Joris Huisman
Director

Date: 25 September 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


SKIM LONDON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Skim London 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. The company's principal place of business is Osborn House, 80 Middlesex Street, London, E1 7EZ.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised when services have been supplied to customers and group undertakings such that
risks and rewards of ownership have transferred to them.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 2

 


SKIM LONDON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
20%
Fixtures and fittings
-
20%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Financial Instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company
becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2022 - 22).

Page 3

 


SKIM LONDON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
151,816
39,624
33,461
224,901


Additions
-
-
3,915
3,915



At 31 December 2023

151,816
39,624
37,376
228,816



Depreciation


At 1 January 2023
144,238
38,250
21,824
204,312


Charge for the year on owned assets
1,819
393
7,507
9,719



At 31 December 2023

146,057
38,643
29,331
214,031



Net book value



At 31 December 2023
5,759
981
8,045
14,785



At 31 December 2022
7,578
1,374
11,638
20,590


5.


Debtors

2023
2022
£
£



Amounts owed by group undertakings
433,738
463,008

Other debtors
125,681
121,166

Prepayments and accrued income
81,897
28,647

641,316
612,821



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,199
781

Corporation tax
24,583
23,516

Other taxation and social security
47,010
42,605

Accruals and deferred income
154,168
206,340

226,960
273,242


Page 4

 


SKIM LONDON LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Controlling party

The immediate parent undertaking Skim Group B.V. is registered in The Netherlands and is the smallest company which produces consolidated financial statements.                                    
 Houdstermaatschappij Skim B.V. is the largest company that prepares consolidated accounts and is also registered in The Netherlands. These group accounts are available from Weena 695 B6.0369, Rotterdam, 3013 AM. This is also the registered office of Skim Group B.V.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by James Fox ACA FCCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 5