SKILLDEED LIMITED - Filleted accounts

Registered number

02163724

SKILLDEED LIMITED

Report and Accounts

31 March 2025

SKILLDEED LIMITED
Registered number:		02163724
Balance Sheet
as at 31 March 2025
Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		800,890			93,949
Investments	4		13,300			37,750
			814,190			131,699

Current assets
Stocks		2,069,481			1,981,659
Debtors	5	316,940			313,552
Cash at bank and in hand		476,904			516,581
		2,863,325			2,811,792

Creditors: amounts falling due within one year	6	(438,925)			(350,975)

Net current assets			2,424,400			2,460,817

Total assets less current liabilities			3,238,590			2,592,516

Creditors: amounts falling due after more than one year	7		(25,587)			(160,587)

Provisions for liabilities			(104,091)			-

Net assets			3,108,912			2,431,929

Capital and reserves
Called up share capital			1,000			1,000
Revaluation reserve	8		604,659			-
Profit and loss account			2,503,253			2,430,929

Shareholders' funds			3,108,912			2,431,929

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


E W Adams
Director
Approved by the board on 8 October 2025

SKILLDEED LIMITED
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	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).

	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 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	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.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			15		15


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2024	141,250		108,524		249,774
	Surplus on revaluation	658,750		-		658,750
	At 31 March 2025	800,000		108,524		908,524

	Depreciation
	At 1 April 2024	50,000		105,825		155,825
	Charge for the year	-		1,809		1,809
	Surplus on revaluation	(50,000)		-		(50,000)
	At 31 March 2025	-		107,634		107,634

	Net book value
	At 31 March 2025	800,000		890		800,890
	At 31 March 2024	91,250		2,699		93,949


	Freehold land and buildings:			2025		2024
£					£
	Historical cost			141,250		141,250
	Cumulative depreciation based on historical cost			-		50,000
				141,250		91,250
	The freehold property was revalued at 31 March 2025 by the directors based on advice received from professional commercial agents. The surplus net of deferred tax allocated to a non distributable revaluation reserve.



4	Investments					Other
investments
£
	Cost
	At 1 April 2024					37,750
	Reduction in market value					(24,450)

	At 31 March 2025					13,300


5	Debtors			2025		2024
£					£

	Trade debtors			290,600		297,578
	Other debtors			26,340		15,974
				316,940		313,552


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			219,708		65,065
	Corporation tax			69,951		42,861
	Other taxes and social security costs			59,964		55,803
	Other creditors			89,302		187,246
				438,925		350,975


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Other creditors			25,587		160,587

8	Revaluation reserve			2025		2024
£					£

	Gain on revaluation of land and buildings			604,659		-

	At 31 March 2025			604,659		-


9	Controlling party

	The controlling party is E W Adams, director, by virtue of his controlling interest in the share capital of the company.

10	Other information

	SKILLDEED LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	1 Sudley Terrace
	High Street
	Bognor Regis
	West Sussex
	PO21 1EY