REGISTERED NUMBER: 04753004 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

Blue Sky Hosting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Young

S A Stubbs

M McCloskey

SECRETARY:

Mrs D Robinson

REGISTERED OFFICE:

14 Great College Street,

Westminster,

London

SW1P 3RX

REGISTERED NUMBER:

04753004 (England and Wales)

FIXED ASSETS

Tangible assets

4

3,037

2,961

CURRENT ASSETS

Debtors

5

182,115

231,806

Cash at bank

83,407

73,730

265,522

305,536

CREDITORS

Amounts falling due within one year

6

227,593

243,658

NET CURRENT ASSETS

37,929

61,878

TOTAL ASSETS LESS CURRENT LIABILITIES

40,966

64,839

CREDITORS

Amounts falling due after more than one year

7

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES

9

-

(563

)

NET ASSETS

20,966

34,276

CAPITAL AND RESERVES

Called up share capital

10

75,002

2

Retained earnings

(54,036

)

34,274

SHAREHOLDERS' FUNDS

20,966

34,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 20 September 2023 and were signed on its behalf by:

K Young - Director

1.	STATUTORY INFORMATION

Blue Sky Hosting Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

The turnover is the total amount, excluding value added tax, receivable by the company in the ordinary course of business for services provided as a principal.

Revenue consists primarily of recurring monthly fees from hosting services which is recognised as the services are provided. Hosting service contract range from one month to three years. Payments received and billings in advance of providing services are deferred until the services are provided. Unbilled revenues for services are accrued at the end of each period.

Set up fees are non-refundable and are recognised at the time of sale.

Usage based fees are recognised as the service is provided.

Service credits are provided on a case by case basis in accordance with service agreements. These credits are determined and accounted for at the time the service failure became evident.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

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.

Deferred tax

Deferred tax is recognised in respect of all 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.

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 assets and liabilities

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

253,077

Additions

1,660

At 30 June 2023

254,737

DEPRECIATION

At 1 July 2022

250,116

Charge for year

1,584

At 30 June 2023

251,700

NET BOOK VALUE

At 30 June 2023

3,037

At 30 June 2022

2,961

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

166,937

136,563

Amounts owed by associates

-

82,491

Prepayments

15,178

12,752

182,115

231,806

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Bank loan and overdraft

10,000

10,000

Trade creditors

36,764

27,566

Taxation and social security

44,099

52,018

Deferred income and accruals

136,730

154,074

227,593

243,658

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.23

30.6.22

£

£

Bank loan

20,000

30,000

8.	FINANCIAL INSTRUMENTS

During June 2020 the company applied for a loan under the Bounce Back Loan Scheme (BBLS) of £50,000 from Barclays Bank Plc and the funds were received into the company's bank account on 17th June 2020.

The company remains liable for all sums payable under the loan agreement, but the scheme gives the lender a full government-backed guarantee against the outstanding balance of the facility (both capital and interest).The Government made a Business Interruption Payment (BIP) to cover the first 12 months of interest payments.

The length of the loan is six years and after the initial period of twelve months the loan is repayable over five years at a rate of 2.5%.

The balance at the year end was £30,000 (2022-£40,000).

9.	PROVISIONS FOR LIABILITIES

30.6.23

30.6.22

£

£

Deferred tax

Accelerated capital allowances

-

563

Deferred

tax

£

Balance at 1 July 2022

563

Unused amounts reversed during year

(563

)

Losses available

Balance at 30 June 2023

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.23

30.6.22

value:

£

£

75,002

Ordinary Shares

Ordin

ary

75,002

2

During the year the company issued £75,000 ordinary shares of £1 each at par.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23

30.6.22

£

£

K Young

Balance outstanding at start of year

886

-

Amounts advanced

25,511

886

Amounts repaid

(886

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

25,511

886

12.	ULTIMATE CONTROLLING PARTY

The controlling party is K Young.