1.
General Information
Get Skills Employment & Training Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
07083531
. The registered office is 16th Floor, Hylo 105 Bunhill Row, London, EC1Y 8LZ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 March 2026.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3.
Going Concern Disclosure
The directors have prepared the financial statements on the going concern basis having projected cashflow and operating forecasts for the business for a period of at least 12 months from the date of signing these financial statements. These support the expected growth of the business and the assumption that it will continue to be cashflow positive in the foreseeable future and include the consideration of the impact of the current economic conditions. The directors reasonably expect there to continue to be sufficient cash resources to be able to pay liabilities as they fall due for at least 12 months from the date of approval of these financial statements.
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.4.
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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest Income
Interest income is recognised using the effective interest rate method.
Dividend Income
Dividend income is recognised when the right to receive payment is established.
2.5.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.6.
Research and Development
Software development costs have been capitalised as an intangible asset and is being amortised over its estimated useful life of 4 years.
2.7.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
|
| Plant & Machinery |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.8.
Investments
Investments in subsidiaries are measured at cost less accumulated impairment.
2.9.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
2.10.
Financial Instruments
2.10.
Financial Instruments - continued
The group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Basic financial assets
Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and accrued income, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at market rate of interest.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled,or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities and equity
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
...CONTINUED
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
Basic financial liabilities
Basic financial liabilities, including trade and other creditors and accruals are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the group's contractual obligations are discharged, cancelled, or they expire.
2.11.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.12.
Provisions and Contingencies
2.12.
Provisions and Contingencies - continued
Provisions
Provisions are recognised when the group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.
Contingencies
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the group’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.
...CONTINUED
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.
2.13.
Pensions
The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.14.
Significant judgements and estimations
In the application of the Group's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future period.
Clawback Provision
There are significant judgements and estimations involved in the estimation of the Clawback Provision. The Clawback Provision is calculated based on careful assessments of budgeted program life and the total estimated participant spend. These assessments are conducted with due diligence and are subject to periodic review and adjustment, which occurs on a quarterly basis. Any changes deemed necessary in response to evolving circumstances are promptly adjusted for and have been reflected in these accounts. Please see note 19 for the carrying amount of the Clawback Provision.
3.
Turnover
Analysis of turnover by class of business is as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
|
|
|
|
|
4.
Operating Profit
The operating profit is stated after charging:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
5.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the group and company's financial statements |
|
|
|
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | ||||
| £ | £ | £ | £ | ||||
| Wages and salaries |
|
|
|
|
|||
| Social security costs |
|
|
|
|
|||
| Other pension costs |
|
|
|
|
|||
|
|
|
|
|
||||
7.
Average Number of Employees
Group
Average number of employees, including directors, during the year was: 295 (2025: 232)
Company
Average number of employees, including directors, during the year was: 247 (2025: 187)
8.
Directors' remuneration
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2026 | 2025 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
9.
Interest Receivable and Similar Income
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| PAYE interest receivable | 25 | 578 | |
| Corporation tax interest receivable | - | 954 | |
| Income from other fixed asset investments - Dividends - listed | 276 | 47 | |
| Income from other fixed asset investments - Interest - listed | 788 | 86 | |
| 53,114 | 87,416 | ||
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
10.
Interest Payable and Similar Charges
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Other finance charges |
|
|
|
| 11,936 | 2,601 | ||
11.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2026 | 2025 | |||
|---|---|---|---|---|---|
| 2026 | 2025 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Double taxation relief |
|
|
|||
|
|
|
||||
| Deferred Tax | |||||
| Deferred taxation |
( |
( |
|||
| Total tax charge for the period |
|
|
|||
The tax assessed for the year is higher than (2025 - higher than) the standard rate of corporation tax in the UK of 25%. (2025 - 25%)
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2026 | 2025 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 2,862,586 | 1,615,287 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
( |
|
|||
| Capital allowances |
|
( |
|||
| Short term timing differences |
( |
( |
|||
| Difference in tax rates |
( |
|
|||
| Tax losses unutilised carried forward |
|
|
|||
| Group relief |
|
|
|||
| Total tax charge for the period | 732,121 | 469,724 | |||
Factors that may affect future tax charges
Following the budget in March 2021, the corporation tax charge will rise to 25% with effect from 1 April 2023. Profits below £50,000 will continue to incur tax at 19% with taper for profits between £50,000 and £250,000. Profits exceeding £250,000 will be subject to the new 25% rate. This legislation received royal assent and was enacted on 10th June 2021.
The deferred tax liability is measured at the rates that are expected to apply in the period when the asset is realised or the liability is settled, based on tax rates (and the tax laws) that have been enacted or substantively enacted by the balance sheet date. The deferred tax is calculated at a rate of 25%.
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
12.
Intangible Assets
Group
Group - continued
Group - continued
Company
| Goodwill | Software Development Costs | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 April 2025 |
|
|
|
| Additions |
|
|
|
| As at 31 March 2026 |
|
|
|
| Amortisation | |||
| As at 1 April 2025 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 March 2026 |
|
|
|
| Net Book Value | |||
| As at 31 March 2026 |
|
|
|
| As at 1 April 2025 |
|
|
|
Goodwill
Additional purchased goodwill of £45,004 is recognised in the year, following the acquisition of the trade and assets of The Ductu Portal Limited into Talentino Ductu Limited as detailed below.
Acquisition in the current period
On 16 January 2026, Talentino Ductu Limited was incorporated and 100% of the share capital on incorporation was issued to Talentino Limited, a 100% subsidiary of the parent company, Get Skills Employment & Training Limited.
On 30 January 2026 (the 'Acquisition date'), Talentino Ductu Limited, purchased the trade and certain assets of The Ductu Portal Limited for the sum of £42,000. Talentino Ductu Limited is a company providing educational support services across the UK.
The acquisition had the following effect on the Company's assets and liabilities, the amounts recognised in respect of the identifiable assets acquired and liabilities assumed are at fair value at the acquisition date.
These are set out in the table below.
|
£
|
|
|
Tangible Assets
|
630
|
|
Trade receivables
|
8,284
|
|
Work in Progress
|
3,000
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
Net assets acquired
|
11,914
|
|
Goodwill on acquisitions (i)
|
45,004
|
|
Total consideration at fair value
|
56,917
|
|
Satisifed by:-
|
|
|
Cash consideration
|
42,000
|
|
Directly attributable costs
|
14,917
|
|
56,917
|
|
...CONTINUED
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
i) Total goodwill of £45,004 arising from the acquisition consists largely of the synergies and economies of scale expected from combining the operations of both companies together. None of the goodwill recognised is expected to be deductible for income tax purposes.
Transaction costs for the company linked to the acquisition of the trade and assets of The Ductu Portal Limited were £14,917 and have been included within the Goodwill cost above.
The amount of revenue included in the company's profit and loss account for the year since 31 January 2026 contributed by Talentino Ductu Limited was £0, with an operating loss of £174,930 over the same period.
There are no fair values determined on a provisional basis for the acquisition of the trade and assets of The Ductu Portal Limited.
Goodwill by Cash-Generating Unit
The carrying amount of goodwill allocated to each cash-generating unit is as follows:
|
Cash-Generated Unit
|
2025
|
2025
|
|
TheLightbulb Limited
|
£93,326
|
£155,544
|
|
Talentino Limited
|
£122,869
|
£190,761
|
|
Talentino Ductu Limited (Trade of The Ductu Portal Ltd)
|
£43,499
|
|
|
Total
|
£259,694
|
£346,305
|
Impairment Testing
The Group tests goodwill for impairment annually. The recoverable amounts of the cash-generating units are determined using value-in-use calculations based on cash flow projections approved by management.
Key Assumptions
The key assumptions used in the value-in-use calculations were as follows:
|
Assumption
|
TheLightbulb Limited
|
Talentino Limited
|
Talentino Ductu Limited
|
|
Discount rate
|
12.0%
|
12.0%
|
12%
|
|
Revenue Growth rate
|
70.4%
|
-6.1%
|
17.2%
|
|
EBITDA margin
|
8.4%
|
4.9%
|
8.1%
|
|
Terminal growth rate
|
3.0%
|
3.0%
|
3.0%
|
|
Forecast period
|
3 years
|
3 years
|
3 years
|
Discount rates: The discount rates reflect management's assessment of risks specific to each cash-generating unit and are based on the Group's weighted average cost of capital adjusted for the risks associated with each business.
Revenue growth rates: Growth rates are based on management's assessment of future performance considering strategic business plans, market conditions, and historical performance.
EBITDA margins: The EBITDA margins reflect management's assessment of operational efficiency and cost management. The assumptions are based on:
•Maintaining current cost structure with operational leverage from revenue growth
•Constant cost management practices and fixed cost absorption over increased revenue base
•Historical margin performance with adjustments for known cost pressures/savings
Terminal growth rate: The terminal growth rate represents management's estimate of long-term average growth rates for the respective markets, consistent with external economic forecasts.
Sensitivity Analysis
Management has performed sensitivity analysis around the key assumptions. The recoverable amounts significantly exceed the carrying amounts of goodwill for both cash-generating units under all reasonably possible scenarios:
Impact of Changes in Key Assumptions:
For the TheLightbulb Limited’s cash-generating unit, the following changes in assumptions would be required for the recoverable amount to equal the carrying amount:
...CONTINUED
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
•Discount rate would need to increase to approximately 50%
•Cash flows would need to decrease by approximately 95%
•A combination of moderately adverse changes across multiple assumptions
For the Talentino Limited’s cash-generating unit, the following changes in assumptions would be required for the recoverable amount to equal the carrying amount:
•Discount rate would need to increase to approximately 45%
•Cash flows would need to decrease by approximately 88%
•A combination of moderately adverse changes across multiple assumptions
Management considers such changes to be remote given current market conditions and business performance.
Conclusion
Based on the impairment testing performed, no impairment of goodwill was identified for the year ended 31 March 2026. The recoverable amounts of both cash-generating units substantially exceed their carrying amounts, providing significant headroom against potential future adverse changes in key assumptions.
| Software Development Costs | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 April 2025 |
|
||
| Additions |
|
||
| As at 31 March 2026 |
|
||
| Amortisation | |||
| As at 1 April 2025 |
|
||
| Provided during the period |
|
||
| As at 31 March 2026 |
|
||
| Net Book Value | |||
| As at 31 March 2026 |
|
||
| As at 1 April 2025 |
|
||
13.
Tangible Assets
Group
Company
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 April 2025 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
( |
( |
( |
( |
| As at 31 March 2026 |
|
|
|
|
|
...CONTINUED
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
| Depreciation | |||||
| As at 1 April 2025 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
( |
( |
( |
( |
| As at 31 March 2026 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 March 2026 |
|
|
|
|
|
| As at 1 April 2025 |
|
|
|
|
|
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 April 2025 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
( |
( |
( |
( |
| As at 31 March 2026 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 April 2025 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
( |
( |
( |
( |
| As at 31 March 2026 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 March 2026 |
|
|
|
|
|
| As at 1 April 2025 |
|
|
|
|
|
14.
Investments
Group
Company
| Other | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 April 2025 |
|
| Additions |
|
| Disposals |
( |
| Fair value adjustments |
|
| As at 31 March 2026 |
|
| Provision | |
| As at 1 April 2025 |
|
| As at 31 March 2026 |
|
...CONTINUED
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
| Net Book Value | |
| As at 31 March 2026 |
|
| As at 1 April 2025 |
|
|
2026
|
2025
|
|
|
£
|
£
|
|
|
Investments at cost
|
1,209,111
|
500,000
|
|
Accumulated fair value gains/(losses)
|
314,907
|
(73,993)
|
|
Proceeds on disposal
|
(1,524,018)
|
-
|
|
Investments at fair value
|
-
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
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426,007
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The Group and Company sold all of their other investments in the year and realised a gain in the year of £388,900, split in the profit and loss between a taxable gain of £264,545 and revaluation gain of £124,355. Therefore these held no value at the year end (2025: £426,007).
| Subsidiaries | Other | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost or Valuation | |||
| As at 1 April 2025 |
|
|
|
| Additions |
( |
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| Disposals |
|
( |
( |
| Fair value adjustments |
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| As at 31 March 2026 |
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| Provision | |||
| As at 1 April 2025 |
|
|
- |
| As at 31 March 2026 |
|
|
- |
| Net Book Value | |||
| As at 31 March 2026 |
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| As at 1 April 2025 |
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Subsidiaries
The carrying value of the investment in subsidiary is reviewed for impairment losses at the end of each period and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Directors assessed the carrying value of the investment as at 31 March 2026 with an analysis of the subsidiary's net assets, which resulted in an impairment of £ nil (2025: £ nil).
The Company has the following direct and indirect investments, including subsidiaries, all incorporated in the United Kingdom:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
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16th Floor, Hylo, Bunhill Row London EC1Y 8LZ |
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- |
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16th Floor, Hylo, Bunhill Row London EC1Y 8LZ |
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- |
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16th Floor, Hylo, Bunhill Row London EC1Y 8LZ |
|
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100.00% |
Talentino Ductu Ltd is owned 100% by Talentino Ltd.
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
| Capital and Reserves | Profit/(loss) | |
|---|---|---|
| £ | £ | |
| TheLightbulb Ltd |
|
( |
| Talentino Ltd |
( |
( |
| Talentino Ductu Ltd |
( |
( |
15.
Stocks
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Work in progress |
|
|
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16.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Corporation tax recoverable assets |
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| Directors' loan accounts |
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- |
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- | |||
| Amounts owed by group undertakings | - | - |
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Trade debtors are stated after a provision for impairment of £ nil (2025: £nil).
Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
17.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | ||||
| £ | £ | £ | £ | ||||
| Trade creditors |
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| Bank loans and overdrafts | - |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Contingent and deferred liabilities | - |
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| Directors' loan accounts | - |
|
- |
|
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| Amounts owed to group undertakings | - | - |
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Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
18.
Deferred Taxation
The deferred tax (Asset)/liability is made up as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | ||||
| £ | £ | £ | £ | ||||
| Other timing differences | 39,869 | 55,557 | 35,709 | 49,968 | |||
19.
Provisions for Liabilities
| Group | ||||
|---|---|---|---|---|
| Clawback Provision | Deferred Tax | Other Provisions | Total | |
| £ | £ | £ | £ | |
| As at 1 April 2025 |
|
|
|
369,223 |
| Additions |
|
|
|
71,867 |
| Reversals |
( |
( |
|
(285,649) |
| Balance at 31 March 2026 |
|
|
|
155,441 |
A provision of £71,867 has been recognised in respect of an ongoing legal dispute which remains unresolved at the balance sheet date.
The provision represents the Directors' best estimate of the probable cost of settling the claim, based on the information available and advice obtained to date. Given that the matter remains in dispute, there is inherent uncertainty as to the timing and final amount of any settlement, and the eventual outcome may differ from the amount provided. The Directors 'will continue to monitor the position and reassess the provision as the dispute progresses.
| Company | ||||
|---|---|---|---|---|
| Clawback Provision | Deferred Tax | Other Provisions | Total | |
| £ | £ | £ | £ | |
| As at 1 April 2025 |
|
|
|
363,634 |
| Additions |
|
|
|
71,866 |
| Reversals |
( |
|
|
(269,960) |
| Deferred taxation | - |
( |
- |
( |
| Balance at 31 March 2026 |
|
|
|
151,281 |
Get Skills Employment & Training Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
21.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | ||||
| £ | £ | £ | £ | ||||
| Not later than one year |
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| Later than one year and not later than five years |
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| Later than five years |
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22.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £234,532 (2025: £136,529).
At the balance sheet date contributions of £61,101 (2025: £25,349) were due to the fund and are included in creditors.
23.
Dividends
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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24.
Post Balance Sheet Events
On 29 May 2026, after the reporting date, the entire issued share capital of Get Skills Employment & Training Limited was acquired by Palladium International Limited. As a result of this transaction, Palladium International Limited became the immediate parent undertaking of Get Skills Employment & Training Limited with effect from that date. The ultimate controlling party of Palladium International Limited is Palladium Group Holdings Limited, who has no ultimate controlling party.
The acquisition was a transaction between the company's former and new shareholders and had no effect on the assets, liabilities, financial position or results of the group or the company for the year ended 31 March 2026. Accordingly, this is a non-adjusting event after the reporting period and no adjustment has been made to these financial statements in respect of it.
25.
Related Party Disclosures
The group has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
26.
Controlling Parties
The group and company have no ultimate controlling party.
27.
Statutory Audit Exemptions
The below UK subsidiaries are exempt from the requirements to audit their accounts under Section 479A of the Companies Act 2006. Under Section 479C of the Companies Act 2006, Get Skills Employment & Training Ltd, being the ultimate parent undertaking of the below mentioned subsidiaries, has given a statutory guarantee of all of the outstanding liabilities to which the companies are subject to as at 31 March 2026.
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Subsidiary Entity
|
Registration Number
|
|
TheLightbulb Ltd
|
04754871
|
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Talentino Ltd
|
07565722
|
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Talentino Ductu Ltd
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16967052
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