Welcome Skills Holdings (UK) Limited
Unaudited Financial Statements
For the period ended 31 January 2025
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 January 2025
Page 1
31 January
31 July
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
180,754
Investments
4
74
74
180,828
74
Current assets
Debtors
5
277,061
588,971
Cash at bank and in hand
16,524
142
293,585
589,113
Creditors: amounts falling due within one year
6
(104,986)
(1,200)
Net current assets
188,599
587,913
Net assets
369,427
587,987
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
369,425
587,985
Total equity
369,427
587,987
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 period ended 31 January 2025 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 period 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.
Welcome Skills Holdings (UK) Limited
Balance Sheet (Continued)
As at 31 January 2025
Page 2
The financial statements were approved and signed by the director and authorised for issue on 23 May 2025
K Hussin
Director
Company Registration No. 08993769
Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements
For the period ended 31 January 2025
Page 3
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
Reporting period
The company director has opted to shorten the company's year end from 31 July to 31 January. As a result of this, these financial statements cover a period of six months to 31 January 2025. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
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.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Straight line over length of lease
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
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.
1.5
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.
Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2025
1
Accounting policies
(Continued)
Page 4
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.
1.6
Cash and cash equivalents
Cash and cash equivalents include cash in hand and balances held at call with banks.
1.7
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.
1.8
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.
1.9
Taxation
The tax expense represents the tax currently payable.
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.
1.10
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.
1.11
Leases
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.
Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2025
Page 5
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2025
2024
Number
Number
Total
4
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2024
Additions
173,714
8,857
182,571
At 31 January 2025
173,714
8,857
182,571
Depreciation and impairment
At 1 August 2024
Depreciation charged in the period
1,448
369
1,817
At 31 January 2025
1,448
369
1,817
Carrying amount
At 31 January 2025
172,266
8,488
180,754
At 31 July 2024
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
74
74
Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2025
Page 6
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
95,944
Amounts owed by group undertakings
54
54
Other debtors
159,057
524,210
Prepayments and accrued income
22,006
64,707
277,061
588,971
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
75,726
Taxation and social security
7,423
Other creditors
3,056
-
Accruals and deferred income
18,781
1,200
104,986
1,200
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Within one year
21,583
Between two and five years
148,000
In over five years
542,667
712,250
Welcome Skills Holdings (UK) Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2025
Page 7
9
Related party transactions
Included within debtors at the period end is a balance due from Welcome Skills Limited, a subsidiary company, of £nil (2024: £nil). During the period, a bad debt expense of £202,563 (2024: £565,450) has been recorded to fully provide for the debt due from Welcome Skills Limited as the company is in liquidation.
Included within debtors at the period end is a balance due from Welcome Skills PVT, a subsidiary company of £54 (2024: £54).
Included within debtors at the period end is a balance of £nil (2024: £395,188) due from K Hussin, the director of the company. Interest accrued at 2.25% on the balance until it the loan was settled during the period.