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REGISTERED NUMBER: SC417848 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

NIGG SKILLS ACADEMY LIMITED

NIGG SKILLS ACADEMY LIMITED (REGISTERED NUMBER: SC417848)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NIGG SKILLS ACADEMY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Global Energy (Holdings) Limited
Ms L K Ross
The Highland Council Local Authority
University Of The Highlands And Islands





SECRETARY:





REGISTERED OFFICE: Nigg Skills Academy
Nigg Energy Park
PO Box 4
Nigg
IV19 1QY





REGISTERED NUMBER: SC417848 (Scotland)





ACCOUNTANTS: Goldwells Ltd
10 Knockbreck Street
Tain
Ross-Shire
IV19 1BJ

NIGG SKILLS ACADEMY LIMITED (REGISTERED NUMBER: SC417848)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,513 14,779

CURRENT ASSETS
Stocks 21,265 21,265
Debtors 5 7,315 47,969
Cash at bank 13,304 65,053
41,884 134,287
CREDITORS
Amounts falling due within one year 6 101,022 133,517
NET CURRENT (LIABILITIES)/ASSETS (59,138 ) 770
TOTAL ASSETS LESS CURRENT
LIABILITIES

(52,625

)

15,549

CREDITORS
Amounts falling due after more than one
year

7

73,360

96,105
NET LIABILITIES (125,985 ) (80,556 )

RESERVES
Income and expenditure account (125,985 ) (80,556 )
(125,985 ) (80,556 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 surplus or deficit 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.

NIGG SKILLS ACADEMY LIMITED (REGISTERED NUMBER: SC417848)

BALANCE SHEET - continued
31ST MARCH 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 Income Statement has not been delivered.

The financial statements were approved by Mr Alastair Kennedy for the Board of Directors and authorised for issue on 13th November 2024 and were signed on its behalf by:





Global Energy (Holdings) Limited - Director


NIGG SKILLS ACADEMY LIMITED (REGISTERED NUMBER: SC417848)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Nigg Skills Academy Limited is a private company, limited by guarantee , registered in Scotland. 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.

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 Income Statement, 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 surplus or deficit 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 5 (2023 - NIL ) .

NIGG SKILLS ACADEMY LIMITED (REGISTERED NUMBER: SC417848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 366,598
Additions 410
At 31st March 2024 367,008
DEPRECIATION
At 1st April 2023 351,819
Charge for year 8,676
At 31st March 2024 360,495
NET BOOK VALUE
At 31st March 2024 6,513
At 31st March 2023 14,779

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,237 6,445
Other debtors 4,078 41,524
7,315 47,969

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,956 5,956
Trade creditors 64,567 94,242
Taxation and social security 5,946 7,248
Other creditors 24,553 26,071
101,022 133,517

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 30,772 36,729
Other creditors 42,588 59,376
73,360 96,105