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REGISTERED NUMBER: 14665082 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SOUTH ESSEX ADVANCED TECHNICAL SKILLS

SOUTH ESSEX ADVANCED TECHNICAL SKILLS (REGISTERED NUMBER: 14665082)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SOUTH ESSEX ADVANCED TECHNICAL SKILLS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Ms C L Browning
Ms M L Kingsland
J W Tabor
T D Amos



REGISTERED OFFICE: Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ



REGISTERED NUMBER: 14665082 (England and Wales)



SENIOR STATUTORY AUDITOR: S T Blundell FCA



AUDITORS: Goldwyns Limited
Statutory Auditors and Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

SOUTH ESSEX ADVANCED TECHNICAL SKILLS (REGISTERED NUMBER: 14665082)

ABRIDGED BALANCE SHEET
31 AUGUST 2024

2024 2023
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 2,053 -

CURRENT ASSETS
Debtors 27,438 38,100
Cash at bank 207,021 -
234,459 38,100
CREDITORS
Amounts falling due within one year 159,139 27,614
NET CURRENT ASSETS 75,320 10,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,373

10,486

CREDITORS
Amounts falling due after more than one
year

136,000

-
NET (LIABILITIES)/ASSETS (58,627 ) 10,486

RESERVES
Income and expenditure account 6 (58,627 ) 10,486
(58,627 ) 10,486

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





J W Tabor - Director


SOUTH ESSEX ADVANCED TECHNICAL SKILLS (REGISTERED NUMBER: 14665082)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

South Essex Advanced Technical Skills is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The business address differs to the registered office address. The business address is located in Basildon, Essex.

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.

The company was incorporated on the 15 February 2023 and commenced trading on the 16 February 2023, and hence the financial statements for the prior year are drawn up for a period of less than 7 months. As the current year reports a full year, for this reason, the figures are not entirely comparable.

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.
Computer equipment - 33% on cost

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.

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.

SOUTH ESSEX ADVANCED TECHNICAL SKILLS (REGISTERED NUMBER: 14665082)

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

2. ACCOUNTING POLICIES - continued

Grants
Grant income is based on the performance model where the grant is recognised in income only when the performance related conditions are satisfied. The directors have assessed the substantial grants the company is entitled to for the first few years of its life, and the various performance obligations arising thereunder. Although the grants themselves do not explicitly stipulate the value attaching to each obligation, the directors have taken an informed view of how the total grant income should be apportioned across the various milestones, and then when the company substantially met each milestone at which point the grant income is recognised.

Any income received in advance of that is deferred (including long-term, where the milestone is unable to be met for at least 12 months after the balance sheet date).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. AUDITORS' REMUNERATION

2024 2023
£ £
Fees payable to the company's auditors for the audit of the company's financial
statements - Lever Bros and Co

-

3,500
Fees payable to the company's auditors for the audit of the company's financial
statements - Goldwyns Limited

7,500

-
Total fees payable to company's auditors for audit work 7,500 3,500
Auditors' remuneration for non audit work - Lever Bros and Co 3,685 300
Auditors' remuneration for non audit work - Goldwyns Limited 300 -
Total fees payable to company's auditors for non audit work 3,985 300

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 3,064
At 31 August 2024 3,064
DEPRECIATION
Charge for year 1,011
At 31 August 2024 1,011
NET BOOK VALUE
At 31 August 2024 2,053

SOUTH ESSEX ADVANCED TECHNICAL SKILLS (REGISTERED NUMBER: 14665082)

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

6. RESERVES
Income
and
expenditure
account
£   

At 1 September 2023 (25,514 )
Prior year adjustment 36,000
10,486
Deficit for the year (69,113 )
At 31 August 2024 (58,627 )

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S T Blundell FCA (Senior Statutory Auditor)
for and on behalf of Goldwyns Limited

8. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charges representing contributions payable by the company to the funds amounted to £1,932 (2023 - £nil). At the balance sheet date the company owed £450 (2023 - £nil) of contributions.

9. LIMITED BY GUARANTEE

The company is a private company limited by guarantee. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. At the 31 August 2024, the number of members was 3.

10. GOING CONCERN

Although the balance sheet reports a net deficit of £58,627 (at 31 August 2024), this is primarily caused by £278,000 of grant income which has been received from Thames Freeport Limited but which does not yet meet the income recognition criteria (and has been deferred accordingly). The company has already expended substantial effort and expense toward its obligations under those grants though, which it therefore expects to complete in the subsequent periods. The directors have also reviewed whether it holds sufficient current and anticipated cash reserves to meet its commitments as they fall due, which they consider it does.

Consequently, the company remains a going concern, and the accounts are prepared on that basis.

11. OTHER INCOME

During the year, the company was in receipt of Government grants. Within other operating income is £96,000 (2023 - £36,000) in respect of these grants.