Red Sky Partners Limited
Registered number: | 11175780
Statement of Financial Position
as at 31 January 2023
Notes |  |  | 2023 |  |  | 2022
£ | £
Fixed assets
Tangible assets | 3 |  |  | 1,373 |  |  | 6,930
Current assets
Cash at bank and in hand |  |  | 12,560 |  |  | 31,363
Creditors: amounts falling due within one year | 4 |  | (8,374) |  |  | (13,343)
Net current assets |  |  |  | 4,186 |  |  | 18,020
Total assets less current liabilities |  |  |  | 5,559 |  |  | 24,950
Provisions for liabilities |  |  |  | (261) |  |  | (1,317)
Net assets |  |  |  | 5,298 |  |  | 23,633
Capital and reserves
Called up share capital |  |  |  | 2 |  |  | 2
Profit and loss account |  |  |  | 5,296 |  |  | 23,631
Shareholders' funds |  |  |  | 5,298 |  |  | 23,633
The director is 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 director acknowledges his 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 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.
Graham Ellis
Director
Approved by the board on 4 October 2023

Red Sky Partners Limited
Notes to the Accounts
for the year ended 31 January 2023
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
| Turnover
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the 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.
| 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:
| Plant and machinery | 25% reducing balance
| Creditors
| Short term creditors are measured at transaction 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.
2 | Employees and directors | 2023 |  | 2022
Number | Number
| Average number of directors and persons employed by the company |  | 1 |  | 1
3 | Tangible fixed assets
|  |  |  |  |  |  |  | Plant and machinery etc
£
| Cost
| At 1 February 2022 | 9,240
| Disposals | (6,800)
| At 31 January 2023 | 2,440
| Depreciation
| At 1 February 2022 | 2,310
| Charge for the year | 457
| On disposals | (1,700)
| At 31 January 2023 | 1,067
| Net book value
| At 31 January 2023 | 1,373
| At 31 January 2022 | 6,930
4 | Creditors: amounts falling due within one year | 2023 |  | 2022
£ | £
| Accruals | 1,116 |  | 1,062
| Corporation tax | 6,639 |  | 9,999
| Other creditors | 619 |  | 2,282
|  |  |  |  |  | 8,374 |  | 13,343
5 | Other information
| Red Sky Partners Limited is a private company limited by shares and incorporated in England. Its registered office is:
| 2 Mathom Court
| 15 Bereweeke Road
| Winchester
| United Kingdom
| SO22 6AJ

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