ACCOUNTS - Final Accounts preparation

Company registration number: 07028444

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	SKIM LONDON LIMITED


SKIM LONDON LIMITED REGISTERED NUMBER:07028444

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		9,399		14,787
			9,399		14,787
Current assets
Debtors	5	775,223		641,316
Cash at bank and in hand		20,571		69,927
		795,794		711,243
Creditors: amounts falling due within one year	6	(220,911)		(226,960)
Net current assets			574,883		484,283
Total assets less current liabilities			584,282		499,070

Net assets			584,282		499,070

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	583,282	498,070
	584,282	499,070

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Joris Huisman

Director

Date: 29 September 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1


SKIM LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Skim London Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company's principal place of business is Osborn House, 80 Middlesex Street, London, E1 7EZ.
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 have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax. The Company operates under a cost plus model with revenue recognised at a mark up of 5% of expenses incurred.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2


SKIM LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	20%
Fixtures and fittings	-	20%
Office equipment	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Financial Instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company
becomes party to the contractual provisions of the instrument.

Page 3


SKIM LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 26).

4.	Tangible fixed assets

	Freehold property	Fixtures and fittings	Office equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	151,816	39,624	37,376	228,816
Additions	-	-	3,728	3,728
At 31 December 2024	151,816	39,624	41,104	232,544
Depreciation
At 1 January 2024	146,057	38,642	29,330	214,029
Charge for the year on owned assets	1,818	393	6,905	9,116
At 31 December 2024	147,875	39,035	36,235	223,145
Net book value
At 31 December 2024	3,941	589	4,869	9,399
At 31 December 2023	5,759	982	8,046	14,787

Page 4


SKIM LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£



Amounts owed by group undertakings	564,089	433,738
Other debtors	126,620	125,681
Prepayments and accrued income	78,016	81,897
Deferred taxation	6,498	-
	775,223	641,316

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	-	1,199
Corporation tax	32,031	24,583
Other taxation and social security	41,013	47,010
Accruals and deferred income	147,867	154,168
	220,911	226,960

7.	Controlling party

The immediate parent undertaking Skim Group B.V. is registered in The Netherlands and is the smallest company which produces consolidated financial statements.
Houdstermaatschappij Skim B.V. is the largest company that prepares consolidated accounts and is also registered in The Netherlands. These group accounts are available from Weena 695 B6.0369, Rotterdam, 3013 AM. This is also the registered office of Skim Group B.V.

8.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 29 September 2025 by James Fox ACA FCCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 5