Company registration number 11171055 (England and Wales)
BLUE SKY DESIGN CONSULTANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
BLUE SKY DESIGN CONSULTANTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BLUE SKY DESIGN CONSULTANTS LIMITED (REGISTERED NUMBER: 11171055)
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,460
2,312
Current assets
Debtors
4
60,770
51,097
Cash at bank and in hand
15
26
60,785
51,123
Creditors: amounts falling due within one year
5
(51,285)
(39,351)
Net current assets
9,500
11,772
Total assets less current liabilities
11,960
14,084
Creditors: amounts falling due after more than one year
6
(11,149)
(12,400)
Provisions for liabilities
(506)
(439)
Net assets
305
1,245
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
304
1,244
Total equity
305
1,245
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BLUE SKY DESIGN CONSULTANTS LIMITED (REGISTERED NUMBER: 11171055)
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 October 2023
Mr C White
Director
BLUE SKY DESIGN CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Company information
Blue Sky Design Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Square, Wrotham, Sevenoaks, Kent, TN15 7AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% Reducing balance
IT Equipment
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BLUE SKY DESIGN CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
IT Equipment
Total
£
£
£
Cost
At 1 February 2022
339
3,579
3,918
Additions
777
777
At 31 January 2023
339
4,356
4,695
Depreciation and impairment
At 1 February 2022
16
1,590
1,606
Depreciation charged in the year
81
548
629
At 31 January 2023
97
2,138
2,235
Carrying amount
At 31 January 2023
242
2,218
2,460
At 31 January 2022
323
1,989
2,312
BLUE SKY DESIGN CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
60,770
51,097
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,100
3,197
Trade creditors
888
1,212
Taxation and social security
44,882
32,641
Other creditors
2,415
2,301
51,285
39,351
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,149
12,400
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
8
Director's transactions
Included within other debtors is an overdrawn director's loan account balance of £45,796 (2022: £38,564).