SKILL CAPITAL GROUP LIMITED

SKILL CAPITAL GROUP LIMITED

SKILL CAPITAL GROUP LIMITED - Company Information

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SKILL CAPITAL GROUP LIMITED

Company Registration Number:
03894828 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

SKILL CAPITAL GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

SKILL CAPITAL GROUP LIMITED

Balance sheet

As at 31 December 2023


Notes
2023
2022


£
£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 39,167 39,167
Investments: 4 1,775 991
Total fixed assets: 40,942 40,158
Current assets
Debtors: 5 5,224,724 5,849,089
Cash at bank and in hand: 117,501 1,946,493
Total current assets: 5,342,225 7,795,582
Creditors: amounts falling due within one year: 6 (1,504,037) (2,015,216)
Net current assets (liabilities): 3,838,188 5,780,366
Total assets less current liabilities: 3,879,130 5,820,524
Total net assets (liabilities): 3,879,130 5,820,524
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 3,879,030 5,820,424
Shareholders funds: 3,879,130 5,820,524

The notes form part of these financial statements

SKILL CAPITAL GROUP LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 05 March 2024
and signed on behalf of the board by:

Name: Adrian Lamb
Status: Director

The notes form part of these financial statements

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 19 6

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 39,167
At 31 December 2023 39,167
Net book value
At 31 December 2023 39,167
At 31 December 2022 39,167

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Fixed investments

2023 2022Investments in subsidiaries 1775 991During the year, the company acquired shares in Skill Capital Associates LLC, a company incorporated in the United States of America.

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

Bank Loans and overdrafts 0 21Trade creditors 31627 80537Amounts owed by group undertakings 327594 664679Other creditors 1084269 1026231Accruals and deferred income 60548 243748

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Related party transactions

Name of the related party: Mr T Macready
Relationship:
Ultimate controlling party
Description of the Transaction: Under the provisions of FRS 102 paragraph 33.1 (a) the company has not disclosed transactions with other wholly owned members of the group headed by Skill Capital Holdings Limited.During the year, Skill Capital Group Ltd provided services to SkillCapital Advisory LLP. At the year end the company owed SkillCapital Advisory LLP £Nil (2022: £Nil). SkillCapital Advisory LLP is a related party by virtue of common control.At the year end £12,051 was due from Tim Macready (2022: £24,102 was owed to Tim Macready). The loan balance was denominated in Sterling and is repayable on demand. Tim Macready is a related party by virtue of being the ultimate controlling party.Amounts due from or to group undertakings at 31 December 2023 and 31 December 2022 have been disclosed within notes 7 and 8.
£
Balance at 01 January 2023 24,102
Balance at 31 December 2023 12,051

SKILL CAPITAL GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Post balance sheet events

On 23 February 2023 a customer settled an amount due to Skill Capital Group Limited with convertible loan notes. The principal value of these loan notes was $400,000 and carry interest charges of 10% per annum. The maturity date of the loan notes is 31 October 2024. This loan note was redeemed to another Skill Capital organisation, but one which is not a member of the Skill Capital Holdings group, on a commercial basis on 31 January 2024.A company subsidiary, Skill Capital.Com Limited, was dissolved on 16th January 2024.In February 2024, the Financial Regulatory Authority in the United States of America, (FINRA), gave permission for ownership of Skill Capital Associates LLC to be transferred to Skill Capital Advisory LLP, a related party by virtue of common control.