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Registration number: 13156505

Skillmatch Recruitment Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Skillmatch Recruitment Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Skillmatch Recruitment Limited

Company Information

Director

Mr Thomas Arran Partridge

Registered office

Bracey's Accountants Limited
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW

 

Skillmatch Recruitment Limited

(Registration number: 13156505)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

11,176

13,100

Current assets

 

Debtors

5

3,691

19,351

Cash at bank and in hand

 

32,976

(96)

 

36,667

19,255

Creditors: Amounts falling due within one year

6

(29,253)

(26,684)

Net current assets/(liabilities)

 

7,414

(7,429)

Total assets less current liabilities

 

18,590

5,671

Provisions for liabilities

(2,855)

(2,489)

Net assets

 

15,735

3,182

Capital and reserves

 

Called up share capital

10

10

Retained earnings

15,725

3,172

Shareholders' funds

 

15,735

3,182

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 June 2024
 

 

Skillmatch Recruitment Limited

(Registration number: 13156505)
Balance Sheet as at 31 January 2024

.........................................
Mr Thomas Arran Partridge
Director

 

Skillmatch Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Bracey's Accountants Limited
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW

These financial statements were authorised for issue by the director on 18 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have pledged to continue to financially support the company for the foreseeable future. On this basis, the directors feel it is appropriate to prepare these financial statements on a going concern basis.

 

Skillmatch Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Judgements

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.

Revenue recognition

Turnover comprises the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% reducing balance

Plant and machinery

20% reducing balance

Motor Vehicles

20% reducing balance

 

Skillmatch Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Skillmatch Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

1,657

12,715

2,392

16,764

Additions

618

177

-

795

At 31 January 2024

2,275

12,892

2,392

17,559

Depreciation

At 1 February 2023

535

2,331

798

3,664

Charge for the year

297

2,106

316

2,719

At 31 January 2024

832

4,437

1,114

6,383

Carrying amount

At 31 January 2024

1,443

8,455

1,278

11,176

At 31 January 2023

1,122

10,384

1,594

13,100

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,440

17,400

Prepayments

1,346

653

Other debtors

905

1,298

 

3,691

19,351

6

Creditors

Creditors: amounts falling due within one year

 

Skillmatch Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

-

320

Trade creditors

 

1,946

2,021

Taxation and social security

 

25,667

7,265

Accruals and deferred income

 

1,150

1,150

Other creditors

 

490

15,928

 

29,253

26,684

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

10

10

10

10

         

8

Dividends

2024

2023

£

£

Interim dividend of £4,850.00 (2023 - £1,900.00) per ordinary share

48,500

19,000

 

 

9

Related party transactions

At the balance sheet date, the company owed £380.31 (2023: £15,846) to T Partridge, the sole director and majority shareholder of Skillmatch Recruitment Limited. The loan is repayable on demand with no interest being charged.

 

Skillmatch Recruitment Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

10

Ultimate controlling party

The ultimate controlling party is Thomas Partridge by virtue of his majority shareholding.

11

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

320