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REGISTERED NUMBER: 10061858 (England and Wales)















Financial Statements

for the Year Ended 31 March 2023

for

SKB2016 LIMITED

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKB2016 LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S J Brown
K Brown





REGISTERED OFFICE: Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ





REGISTERED NUMBER: 10061858 (England and Wales)





ACCOUNTANTS: Rawse, Varley & Co
Chartered Accountants
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 507 2,537
Investment property 5 580,000 603,730
580,507 606,267

CURRENT ASSETS
Debtors 6 3,707 2,821
Investments 7 6,060,150 7,141,821
Cash at bank 978,459 24,203
7,042,316 7,168,845
CREDITORS
Amounts falling due within one year 8 6,065,802 5,876,121
NET CURRENT ASSETS 976,514 1,292,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,557,021

1,898,991

PROVISIONS FOR LIABILITIES 10 133,189 185,730
NET ASSETS 1,423,832 1,713,261

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 12 1,422,832 1,712,261
SHAREHOLDERS' FUNDS 1,423,832 1,713,261

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Balance Sheet - continued
31 March 2023


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 18 October 2023 and were signed on its behalf by:





S J Brown - Director


SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

SKB2016 Limited 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 the provisions of Schedule 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and the Republic of Ireland" and the Companies Act 2006.The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment income
Investment income comprises dividends and interest on investments, together with profits less losses on disposal of investments and rent receivable. Dividends are accounted for when due and interest and rent is accounted for on the accruals basis.

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

Furniture and equipment 20% of cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Investments
Investments are stated at fair value. In the case of investments traded on a recognised stock exchange fair value is determined by reference to quoted bid prices. Unquoted investments are valued by the directors by reference to all available evidence including recent transactions, events and company statements relating to the investments concerned.

Changes in the valuation of investments are taken to profit and loss in the income statement.

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Furniture
and
equipment
£   
COST
At 1 April 2022
and 31 March 2023 10,151
DEPRECIATION
At 1 April 2022 7,614
Charge for year 2,030
At 31 March 2023 9,644
NET BOOK VALUE
At 31 March 2023 507
At 31 March 2022 2,537

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 603,730
Revaluations (23,730 )
At 31 March 2023 580,000
NET BOOK VALUE
At 31 March 2023 580,000
At 31 March 2022 603,730

Investment property was revalued by the directors as at 31 March 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 490 100
Tax 433 323
Prepayments 2,784 2,398
3,707 2,821

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. CURRENT ASSET INVESTMENTS

Investments are stated at fair value and comprise:

2023 2022
£ £
Listed investments 1,387,368 2,067,456
Investment funds 4,672,782 5,074,365
6,060,150 7,141,821
If investments had not been re-stated to fair value they would be stated at cost of £6,252,765 (2022 - £5,394,188).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans (see note 9) 4,760,742 5,670,000
Corporation tax - 43,503
Other creditors 1,278,375 135,992
Accrued expenses 26,685 26,626
6,065,802 5,876,121

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Loan from S J Brown 2,375,371 2,830,000
Loan from K Brown 2,375,371 2,830,000
Loan from SB Trustees 5,000 5,000
Loan from KB Trustees 5,000 5,000
4,760,742 5,670,000

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 133,189 185,730

Deferred
tax
£   
Balance at 1 April 2022 185,730
Credit to Income Statement during year (52,541 )
Balance at 31 March 2023 133,189

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
600 A shares £1 600 600
400 B shares £1 400 400
1,000 1,000

12. RESERVES
Retained
earnings
£   

At 1 April 2022 1,712,261
Deficit for the year (279,429 )
Dividends (10,000 )
At 31 March 2023 1,422,832

13. SECURITY

Cash and securities held are subject to a fixed charge in favour of UBS AG. The amount owing to UBS AG at 31 March 2023 was £1,296,775 (2022 - £154,693).