Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity1717truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02535682 2022-03-01 2023-02-28 02535682 2021-03-01 2022-02-28 02535682 2023-02-28 02535682 2022-02-28 02535682 c:Director2 2022-03-01 2023-02-28 02535682 d:Buildings 2022-03-01 2023-02-28 02535682 d:Buildings 2023-02-28 02535682 d:Buildings 2022-02-28 02535682 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02535682 d:Buildings d:LongLeaseholdAssets 2022-03-01 2023-02-28 02535682 d:Buildings d:LongLeaseholdAssets 2023-02-28 02535682 d:Buildings d:LongLeaseholdAssets 2022-02-28 02535682 d:PlantMachinery 2022-03-01 2023-02-28 02535682 d:PlantMachinery 2023-02-28 02535682 d:PlantMachinery 2022-02-28 02535682 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02535682 d:MotorVehicles 2022-03-01 2023-02-28 02535682 d:MotorVehicles 2023-02-28 02535682 d:MotorVehicles 2022-02-28 02535682 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02535682 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02535682 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 02535682 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 02535682 d:Goodwill 2022-03-01 2023-02-28 02535682 d:Goodwill 2023-02-28 02535682 d:Goodwill 2022-02-28 02535682 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 02535682 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-02-28 02535682 d:CurrentFinancialInstruments 2023-02-28 02535682 d:CurrentFinancialInstruments 2022-02-28 02535682 d:Non-currentFinancialInstruments 2023-02-28 02535682 d:Non-currentFinancialInstruments 2022-02-28 02535682 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 02535682 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 02535682 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 02535682 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 02535682 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 02535682 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 02535682 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 02535682 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 02535682 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 02535682 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 02535682 d:ShareCapital 2023-02-28 02535682 d:ShareCapital 2022-02-28 02535682 d:RetainedEarningsAccumulatedLosses 2023-02-28 02535682 d:RetainedEarningsAccumulatedLosses 2022-02-28 02535682 c:OrdinaryShareClass1 2022-03-01 2023-02-28 02535682 c:OrdinaryShareClass1 2023-02-28 02535682 c:OrdinaryShareClass1 2022-02-28 02535682 c:FRS102 2022-03-01 2023-02-28 02535682 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 02535682 c:FullAccounts 2022-03-01 2023-02-28 02535682 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 02535682 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 02535682 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 02535682 d:OtherDeferredTax 2023-02-28 02535682 d:OtherDeferredTax 2022-02-28 02535682 2 2022-03-01 2023-02-28 02535682 d:Goodwill d:OwnedIntangibleAssets 2022-03-01 2023-02-28 02535682 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-03-01 2023-02-28 02535682 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02535682









SKYVIEW SYSTEMS LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023







































 
SKYVIEW SYSTEMS LIMITED
REGISTERED NUMBER: 02535682

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
15,076
25,152

Tangible assets
 5 
387,330
431,616

  
402,406
456,768

Current assets
  

Stocks
 6 
209,315
140,784

Debtors: amounts falling due within one year
 7 
690,531
391,441

Cash at bank and in hand
 8 
128,614
264,547

  
1,028,460
796,772

Creditors: amounts falling due within one year
 9 
(719,122)
(549,513)

Net current assets
  
 
 
309,338
 
 
247,259

Total assets less current liabilities
  
711,744
704,027

Creditors: amounts falling due after more than one year
 10 
(110,090)
(147,128)

Provisions for liabilities
  

Deferred tax
 12 
(42,983)
(40,396)

  
 
 
(42,983)
 
 
(40,396)

Net assets
  
558,671
516,503


Capital and reserves
  

Called up share capital 
 13 
10
10

Profit and loss account
  
558,661
516,493

  
558,671
516,503


Page 1

 
SKYVIEW SYSTEMS LIMITED
REGISTERED NUMBER: 02535682
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




I E Cunningham
Director

Date: 21 November 2023


The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Skyview Systems Limited is a private company limited by shares and is incorporated in England and Wales. Company number 02535682.
The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY. 
The principal activity of the company is that of retailer of weather instrumentation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance or straight line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
L/Term Leasehold Property
-
10% straight line
Plant & machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 17).

Page 7

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Intangible assets




Development expenditure
Trademarks
Intellectual property
Total

£
£
£
£



Cost


At 1 March 2022
33,599
760
100,000
134,359



At 28 February 2023

33,599
760
100,000
134,359



Amortisation


At 1 March 2022
33,599
608
75,000
109,207


Charge for the year on owned assets
-
76
10,000
10,076



At 28 February 2023

33,599
684
85,000
119,283



Net book value



At 28 February 2023
-
76
15,000
15,076



At 28 February 2022
-
152
25,000
25,152



Page 8

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Freehold property
L/Term Leasehold Property
Plant & machinery
Motor vehicles
Total

£
£
£
£
£



Cost or valuation


At 1 March 2022
422,366
88,528
223,842
223,152
957,888


Additions
10,838
-
-
-
10,838



At 28 February 2023

433,204
88,528
223,842
223,152
968,726



Depreciation


At 1 March 2022
180,010
62,283
163,306
120,674
526,273


Charge for the year on owned assets
8,543
8,853
12,108
25,619
55,123



At 28 February 2023

188,553
71,136
175,414
146,293
581,396



Net book value



At 28 February 2023
244,651
17,392
48,428
76,859
387,330



At 28 February 2022
242,356
26,245
60,536
102,478
431,615


6.


Stocks

2023
2022
£
£

Raw materials and consumables
209,315
140,784


Page 9

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Debtors

2023
2022
£
£


Trade debtors
153,980
61,200

Amounts owed by group undertakings
-
5,067

Other debtors
482,405
310,187

Prepayments and accrued income
54,146
14,987

690,531
391,441



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
128,614
264,547



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
25,731
13,163

Trade creditors
118,975
233,679

Amounts owed to group undertakings
40,544
-

Other taxation and social security
108,968
57,703

Other creditors
63,343
229,695

Accruals and deferred income
361,561
15,273

719,122
549,513



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
110,090
147,128


Page 10

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due within one year
25,731
13,163

Amounts falling due 1-2 years
26,868
13,545

Amounts falling due 2-5 years
83,223
42,933

Amounts falling due after more than 5 years
-
90,650

135,822
160,291


Secured loans
Bank loans are secured against the business assets.


12.


Deferred taxation




2023


£






At beginning of year
(40,396)


Charged to profit or loss
(2,587)



At end of year
(42,983)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(43,224)
(40,396)

Other timing differences
241
-

(42,983)
(40,396)

Page 11

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary shares of £1.00 each
10
10



14.


Related party transactions

During the year the company paid rent of £18,420 (2022 - £18,219) to a director.
Included within other debtors is an amount of £330,338 (2022 - (£230,505) owed by a director.
 


15.


Controlling party

The company's ultimate parent undertaking at the balance sheet date was Skyview (Holdings) Limited, a company incorporated in England and Wales.
The company is under the control of Mr N I G Hart who is a director of Skyview (Holdings) Limited.

 
Page 12