Welcome Skills Holdings (UK) Limited
Unaudited Financial Statements
For the year ended 31 July 2024
Pages for Filing with Registrar
Company Registration No. 08993769 (England and Wales)
Welcome Skills Holdings (UK) Limited
Company Information
Director
K Hussin
Company number
08993769
Registered office
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Welcome Skills Holdings (UK) Limited
Balance Sheet
As at 31 July 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
74
74
Current assets
Debtors
4
588,971
1,146,338
Cash at bank and in hand
142
257
589,113
1,146,595
Creditors: amounts falling due within one year
5
(1,200)
(1,200)
Net current assets
587,913
1,145,395
Net assets
587,987
1,145,469
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
587,985
1,145,467
Total equity
587,987
1,145,469

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 31 July 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 member has 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.

The financial statements were approved and signed by the director and authorised for issue on 3 March 2025
K Hussin
Director
Company Registration No. 08993769
Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements
For the year ended 31 July 2024
Page 2
1
Accounting policies
Company information

Welcome Skills Holdings (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Betchworth House, 57-65 Station Road, Redhill, Surrey, RH1 1DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Cash and cash equivalents

Cash and cash equivalents include cash in hand and balances held at call with banks.

1.4
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the tax currently payable.

Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
Page 3
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023: 0).

3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
74
74
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
54
565,504
Other debtors
524,210
525,041
Prepayments and accrued income
64,707
55,793
588,971
1,146,338
5
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,200
1,200
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
Page 4
7
Related party transactions

Included within debtors at the year end is a balance due from Welcome Skills Limited, a subsidiary company, of £nil (2023: £565,450). During the year, a bad debt expense of £565,450 has been recorded to fully provide for the debt due from Welcome Skills Limited as the company is in liquidation. During the year, the company received dividends from Welcome Skills Limited of £nil (2023: £15,000).

 

Included within debtors at the year end is a balance due from Welcome Skills PVT, a subsidiary company of £54 (2023: £54).

 

Included within debtors is an amount of £395,188 (2023: £396,238) due from K Hussin, the director of the company. The amount accrues interest at 2.25% and is repayable on demand. During the year, the company paid dividends to the director of £nil (2023: £15,000).

 

 

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