Company registration number 08931034 (England and Wales)
SKILLS4STEM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
SKILLS4STEM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SKILLS4STEM LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,750
11,250
Tangible assets
4
13,102
16,567
21,852
27,817
Current assets
Stocks
45,452
17,080
Debtors
5
2,422,705
2,524,459
Cash at bank and in hand
159,963
460,141
2,628,120
3,001,680
Creditors: amounts falling due within one year
6
(1,633,378)
(2,094,532)
Net current assets
994,742
907,148
Total assets less current liabilities
1,016,594
934,965
Creditors: amounts falling due after more than one year
7
(259,672)
(402,207)
Provisions for liabilities
(3,074)
(3,896)
Net assets
753,848
528,862
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
753,748
528,762
Total equity
753,848
528,862

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SKILLS4STEM LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 February 2025
Ms S L Graham
Director
Company registration number 08931034 (England and Wales)
SKILLS4STEM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Skills4Stem Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bedford I Lab, Stannard Way, Priory Business Park, Bedford, Bedfordshire, MK44 3RZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and the rendering of services in the normal course of business, and is shown net of discounts and VAT.

 

Rendering of services

Revenue arises from the provision of training services.

Revenue is recognised proportionally over the performance of the service contract, by reference to the stage of completion of the transaction at the end of the reporting period.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
6 years straight line
Other intangibles
3 years straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks represent "end point" assessment fees, incurred prior to completion of the courses funded by the government and are stated at the lower of cost and net realisable value.

SKILLS4STEM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

SKILLS4STEM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
26
36
3
Intangible fixed assets
Website
Other intangibles
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
15,000
14,620
29,620
Amortisation and impairment
At 1 July 2023
3,750
14,620
18,370
Amortisation charged for the year
2,500
-
0
2,500
At 30 June 2024
6,250
14,620
20,870
Carrying amount
At 30 June 2024
8,750
-
0
8,750
At 30 June 2023
11,250
-
0
11,250
4
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 July 2023
9,545
30,147
39,692
Additions
-
0
743
743
At 30 June 2024
9,545
30,890
40,435
Depreciation and impairment
At 1 July 2023
4,896
18,229
23,125
Depreciation charged in the year
1,162
3,046
4,208
At 30 June 2024
6,058
21,275
27,333
Carrying amount
At 30 June 2024
3,487
9,615
13,102
At 30 June 2023
4,649
11,918
16,567
SKILLS4STEM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,016,786
2,304,707
Corporation tax recoverable
49,633
16,163
Amounts owed by group undertakings
94,673
71,985
Other debtors
261,613
131,604
2,422,705
2,524,459
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
142,535
97,958
Trade creditors
79,987
121,403
Amounts owed to group undertakings
100
100
Corporation tax
203,957
59,066
Other taxation and social security
48,825
24,782
Other creditors
1,157,974
1,791,223
1,633,378
2,094,532

The Director has provided a personal guarantee amounting to £30,000 over the bank loan with Santander.

 

The loan provided by Santander is secured by way of a fixed charge over the companies assets.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
259,672
402,207
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
40,807
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
SKILLS4STEM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
20,772
22,236
Between two and five years
19,071
39,843
39,843
62,079
10
Related party transactions

During the year, the company provided advances of £100,000. Interest was charged of £nil (2023 - £1,293) on the outstanding balance at a rate of 2.25%. At the balance sheet date, the director owed the company £146,853 (2023 - £47,682).

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