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Company No: 06096792 (England and Wales)

SKILLFIX CONSTRUCTION LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SKILLFIX CONSTRUCTION LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SKILLFIX CONSTRUCTION LIMITED

BALANCE SHEET

As at 31 December 2024
SKILLFIX CONSTRUCTION LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.12.2023
£ £
Fixed assets
Tangible assets 3 25,480 33,968
25,480 33,968
Current assets
Stocks 5,000 10,000
Debtors 4 858,206 1,005,412
Cash at bank and in hand 8,450 2,106
871,656 1,017,518
Creditors: amounts falling due within one year 5 ( 495,845) ( 504,229)
Net current assets 375,811 513,289
Total assets less current liabilities 401,291 547,257
Creditors: amounts falling due after more than one year 6 ( 15,000) ( 45,000)
Net assets 386,291 502,257
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 386,191 502,157
Total shareholders' funds 386,291 502,257

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

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Skillfix Construction Limited (registered number: 06096792) were approved and authorised for issue by the Director on 04 April 2025. They were signed on its behalf by:

Mr R Burbidge
Director
SKILLFIX CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SKILLFIX CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Skillfix Construction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom. The principal place of business is Unit 1 & 2 Monument View, Chelston Business Park, Wellington, Somerset, TA21 9ND.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.

Turnover is recognised in the accounts when the services have been provided. This includes a provision for services provided, but not yet billed, at the accounting period end.

Employee benefits

Defined contribution schemes
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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Year ended
31.12.2024
Period from
01.07.2022 to
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 8 11

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 January 2024 4,653 70,066 16,731 91,450
Additions 0 0 550 550
Disposals 0 0 ( 14,094) ( 14,094)
At 31 December 2024 4,653 70,066 3,187 77,906
Accumulated depreciation
At 01 January 2024 995 41,371 15,116 57,482
Charge for the financial year 732 7,174 405 8,311
Disposals 0 0 ( 13,367) ( 13,367)
At 31 December 2024 1,727 48,545 2,154 52,426
Net book value
At 31 December 2024 2,926 21,521 1,033 25,480
At 31 December 2023 3,658 28,695 1,615 33,968

4. Debtors

31.12.2024 31.12.2023
£ £
Trade debtors 146,366 122,692
Amounts owed by director 0 640,478
Amounts recoverable on contracts 3,745 11,852
Prepayments 16,402 20,141
Other debtors 691,693 210,249
858,206 1,005,412

5. Creditors: amounts falling due within one year

31.12.2024 31.12.2023
£ £
Bank loans 30,000 30,000
Trade creditors 148,050 231,497
Amounts owed to director 17,979 0
Accruals 4,996 3,998
Corporation tax 26,712 26,191
Other taxation and social security 103,613 140,432
Obligations under finance leases and hire purchase contracts 0 7,734
Other creditors 164,495 64,377
495,845 504,229

Creditors falling due within one year include net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £7,734).

Creditors falling due within one year include bank loans of £30,000 (2023 - £30,000) on which there is a fixed and floating charge on all property and assets held by the company.

6. Creditors: amounts falling due after more than one year

31.12.2024 31.12.2023
£ £
Bank loans 15,000 45,000

Creditors falling due after more than one year include bank loans of £15,000 (2023 - £45,000) on which there is a fixed and floating charge on all property and assets held by the company.

7. Called-up share capital

31.12.2024 31.12.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

31.12.2024 31.12.2023
£ £
Loan to participator subject to interest at the HMRC approved rate and repayable on demand 481,444 0

The loan to the participator was shown as a director loan in the previous year. During the year, £14,966 was advanced to the participator and £172,500 was repaid by the participator.

Transactions with the entity's director

31.12.2024 31.12.2023
£ £
Director A loan subject to interest at the HMRC approved rate and repayable on demand 0 638,978
Director B loan repayable on demand 0 1,500

The director A loan is now shown in other debtors following termination of directorship on 1 January 2024. This is now a loan to a participator.

During the year, £1,500 was repaid by director B.