Skyey Trade Limited 06128054 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Recycling Digita Accounts Production Advanced 6.30.9574.0 true true 06128054 2022-03-01 2023-02-28 06128054 2023-02-28 06128054 core:RetainedEarningsAccumulatedLosses 2023-02-28 06128054 core:ShareCapital 2023-02-28 06128054 core:CurrentFinancialInstruments 2023-02-28 06128054 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 06128054 core:FurnitureFittingsToolsEquipment 2023-02-28 06128054 bus:SmallEntities 2022-03-01 2023-02-28 06128054 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 06128054 bus:FullAccounts 2022-03-01 2023-02-28 06128054 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 06128054 bus:RegisteredOffice 2022-03-01 2023-02-28 06128054 bus:Director1 2022-03-01 2023-02-28 06128054 bus:Director2 2022-03-01 2023-02-28 06128054 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06128054 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 06128054 core:PlantMachinery 2022-03-01 2023-02-28 06128054 countries:England 2022-03-01 2023-02-28 06128054 2022-02-28 06128054 core:FurnitureFittingsToolsEquipment 2022-02-28 06128054 2021-03-01 2022-02-28 06128054 2022-02-28 06128054 core:RetainedEarningsAccumulatedLosses 2022-02-28 06128054 core:ShareCapital 2022-02-28 06128054 core:CurrentFinancialInstruments 2022-02-28 06128054 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 06128054 core:FurnitureFittingsToolsEquipment 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 06128054

Skyey Trade Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Skyey Trade Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Skyey Trade Limited

Company Information

Directors

Mrs Wei Shao

Mr Ping Wu

Registered office

Hanover House
85 Hanover Street
Liverpool
L1 3DZ

Accountants

Phil Owen & Co Limited
Chartered Accountant
22 Pall Mall
Liverpool
Merseyside
L3 6AL

 

Skyey Trade Limited

(Registration number: 06128054)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

642

778

Current assets

 

Debtors

5

-

546

Cash at bank and in hand

 

1,143

47

 

1,143

593

Creditors: Amounts falling due within one year

6

(9,422)

(5,736)

Net current liabilities

 

(8,279)

(5,143)

Net liabilities

 

(7,637)

(4,365)

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

(8,637)

(5,365)

Shareholders' deficit

 

(7,637)

(4,365)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

.........................................
Mrs Wei Shao
Director

 

Skyey Trade Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Hanover House
85 Hanover Street
Liverpool
L1 3DZ

These financial statements were authorised for issue by the Board on 25 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Skyey Trade Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% on Cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Skyey Trade Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

1,296

1,296

Additions

154

154

At 28 February 2023

1,450

1,450

Depreciation

At 1 March 2022

518

518

Charge for the year

290

290

At 28 February 2023

808

808

Carrying amount

At 28 February 2023

642

642

At 28 February 2022

778

778

5

Debtors

Current

2023
£

2022
£

Other debtors

-

546

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

925

925

Other creditors

8,497

4,811

9,422

5,736

 

Skyey Trade Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000