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REGISTERED NUMBER: 10707872 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

SKYEE UK COMPANY LIMITED

SKYEE UK COMPANY LIMITED (REGISTERED NUMBER: 10707872)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SKYEE UK COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: L Fang
J Lin





REGISTERED OFFICE: Office 346
Castlemead
Lower Castle Street
Bristol
BS1 3AG





REGISTERED NUMBER: 10707872 (England and Wales)

SKYEE UK COMPANY LIMITED (REGISTERED NUMBER: 10707872)

BALANCE SHEET
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £   
CURRENT ASSETS
Debtors 4 14,848 25,118
Cash at bank 124,415 116,977
139,263 142,095
CREDITORS
Amounts falling due within one year 5 19,976 22,627
NET CURRENT ASSETS 119,287 119,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,287

119,468

CAPITAL AND RESERVES
Called up share capital 230,000 230,000
Retained earnings (110,713 ) (110,532 )
119,287 119,468

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 August 2022 and were signed on its behalf by:




L Fang - Director



J Lin - Director


SKYEE UK COMPANY LIMITED (REGISTERED NUMBER: 10707872)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Skyee UK Company Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10707872 and the registered office address is Office 346 Castlemead, Lower Castle Street, Bristol, England, BS1 3AG.

The principal activity of the company is a payment service and support provider, subject to FCA authorisation.

The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises management fees charged to the parent company on a cost-plus basis in respect of property and payroll costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SKYEE UK COMPANY LIMITED (REGISTERED NUMBER: 10707872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Trade and other debtors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents comprise cash at bank and in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Loans payable are measured initially at fair value, net of transaction costs, and non-current loans payable are subsequently remeasured to amortised cost using the effective interest method.

Going concern
The directors have confirmed that the company will continue to receive financial support from its parent company and other companies within the group, for a period of at least 12 months from the date of approval of the financial statements. Therefore the financial statements are prepared on a going concern basis.

SKYEE UK COMPANY LIMITED (REGISTERED NUMBER: 10707872)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Amounts owed by group undertakings 13,815 23,714
Other debtors 1,033 1,404
14,848 25,118

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 6 383
Taxation and social security 3,059 5,865
Other creditors 16,911 16,379
19,976 22,627

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lee Gardner FCA (Senior Statutory Auditor)
for and on behalf of Vale & West Accountancy Services Limited

7. PARENT UNDERTAKING AND CONTROLLING PARTY

The ultimate controlling party is J Lin.

The company is a wholly owned subsidiary undertaking of GPCF Company Limited, a company incorporated in Hong Kong. The consolidated financial statements of GPCF Company Limited can be obtained from its registered office. Its registered office address is Room 07, Flat 02-03, 20/F, Empress Plaza, 17-19 Chatham Road, Tsim Sha Tsui, Kowloon, Hong Kong.