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Skillbase Consulting Limited

Registered Number
04266280
(England and Wales)

Unaudited Financial Statements for the Year ended
29 June 2024

Skillbase Consulting Limited
Company Information
for the year from 30 June 2023 to 29 June 2024

Directors

Mr S Lines
Mr S Seamons

Registered Address

The Brew House
Old Bexley Business Park,
19 Bourne Road, Bexley
DA5 1LR

Registered Number

04266280 (England and Wales)
Skillbase Consulting Limited
Balance Sheet as at
29 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,3401,199
1,3401,199
Current assets
Debtors41,010,961961,093
Cash at bank and on hand9,47796,588
1,020,4381,057,681
Creditors amounts falling due within one year5(942,405)(979,309)
Net current assets (liabilities)78,03378,372
Total assets less current liabilities79,37379,571
Creditors amounts falling due after one year6(10,626)(21,051)
Provisions for liabilities7(335)(300)
Net assets68,41258,220
Capital and reserves
Called up share capital1,0001,000
Profit and loss account67,41257,220
Shareholders' funds68,41258,220
The financial statements were approved and authorised for issue by the Board of Directors on 28 April 2025, and are signed on its behalf by:
Mr S Lines
Director
Mr S Seamons
Director

Registered Company No. 04266280
Skillbase Consulting Limited
Notes to the Financial Statements
for the year ended 29 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings4
Finance leases and hire purchase contracts
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. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. 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.Average number of employees

20242023
Average number of employees during the year77
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 30 June 2328,75028,750
Additions1,0141,014
Disposals(139)(139)
At 29 June 2429,62529,625
Depreciation and impairment
At 30 June 2327,55127,551
Charge for year769769
On disposals(35)(35)
At 29 June 2428,28528,285
Net book value
At 29 June 241,3401,340
At 29 June 231,1991,199
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables973,706922,865
Other debtors26,66226,662
Prepayments and accrued income10,59311,566
Total1,010,961961,093
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables123,325239,143
Bank borrowings and overdrafts21,67321,487
Taxation and social security153,644173,533
Other creditors637,019537,908
Accrued liabilities and deferred income6,7447,238
Total942,405979,309
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included in other creditors is £261,102 (2023 - £211,712) owed to RBS Invoice Finance Limited which is secured by fixed and floating charges over the company's assets dated 8 March 2006. The banking facilities from National Westminster Bank PLC are secured by the directors' personal guarantees and a debenture dated 15 November 2005.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,62621,051
Total10,62621,051
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)335300
Total335300
8.Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: 2024 £20,572 (2023 - £44,157).
9.Related party transactions
Included within other creditors is £375,131 (2023 - £325,430) for an interest free loan which is due to a company of which the directors and shareholders of this company are also the directors and shareholders.