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Registered number: 04926845
Upskill People Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—8
Page 1
Balance Sheet
Registered number: 04926845
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 646,489 629,297
Tangible Assets 5 14,540 18,418
661,029 647,715
CURRENT ASSETS
Debtors 6 130,254 242,541
Cash at bank and in hand 422,086 629,820
552,340 872,361
Creditors: Amounts Falling Due Within One Year 7 (221,147 ) (418,536 )
NET CURRENT ASSETS (LIABILITIES) 331,193 453,825
TOTAL ASSETS LESS CURRENT LIABILITIES 992,222 1,101,540
PROVISIONS FOR LIABILITIES
Deferred Taxation (35,733 ) (39,477 )
NET ASSETS 956,489 1,062,063
CAPITAL AND RESERVES
Called up share capital 8 37,013 37,013
Share premium account 13,690 13,690
Capital redemption reserve 15,030 15,030
Profit and Loss Account 890,756 996,330
SHAREHOLDERS' FUNDS 956,489 1,062,063
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P T Fullard
Director
07/05/2025
The notes on pages 4 to 8 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Capital Redemption Profit and Loss Account Total
£ £ £ £ £
As at 1 January 2023 47,033 13,690 5,010 1,000,495 1,066,228
Profit for the year and total comprehensive income - - - 65,835 65,835
Purchase of own shares (10,020 ) - 10,020 (70,000 ) (70,000)
As at 31 December 2023 and 1 January 2024 37,013 13,690 15,030 996,330 1,062,063
Loss for the year and total comprehensive income - - - (105,574 ) (105,574)
As at 31 December 2024 37,013 13,690 15,030 890,756 956,489
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Upskill People Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04926845 . The registered office is 5 Cornfield Terrace, Eastbourne, East Sussex, BN21 4NN.
The presentation currency of the financial statements is the Pound Sterling (£).  
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property rights are capitalised and classified as an asset. 
It is amortised to the profit and loss account over its estimated economic life of 5 - 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases, assets held under finance leases are depreciated in the same way as owned assets:
Plant & Machinery 25% Straight line
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Straight line
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.
Page 4
Page 5
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially 
measured at transaction price including transaction costs and are subsequently carried at amortised cost 
using the effective interest method unless the arrangement constitutes a financing transaction, where the 
financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
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.
Basic financial liabilities 
Basic financial liabilities, including trade and other creditors, bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 5
Page 6
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.9. Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.10. 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. 
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are 
received.
Termination benefits are recognised immediately as an expense when the company is demonstrably 
committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5 (2023: 4)
5 4
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 January 2024 3,091,556
Additions 327,750
As at 31 December 2024 3,419,306
Amortisation
As at 1 January 2024 2,462,259
Provided during the period 310,558
As at 31 December 2024 2,772,817
Net Book Value
As at 31 December 2024 646,489
As at 1 January 2024 629,297
Page 6
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 1,410 3,757 48,508 53,675
Additions - - 6,019 6,019
As at 31 December 2024 1,410 3,757 54,527 59,694
Depreciation
As at 1 January 2024 235 2,048 32,974 35,257
Provided during the period 470 935 8,492 9,897
As at 31 December 2024 705 2,983 41,466 45,154
Net Book Value
As at 31 December 2024 705 774 13,061 14,540
As at 1 January 2024 1,175 1,709 15,534 18,418
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 106,873 231,137
Other debtors 23,381 11,404
130,254 242,541
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 52,086 19,551
Other creditors 153,325 291,681
Taxation and social security 15,736 107,304
221,147 418,536
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
370,130 Ordinary Shares of £ 0.10 each 37,013 37,013
Page 7
Page 8
9. Pension Commitments
The Company operates a defined contribution pension scheme for Upskill People Limited. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,628 (2023 - £734) were due to the fund. They are included in Other Creditors.
Page 8