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REGISTERED NUMBER: 09578734 (England and Wales)


Financial Statements for the Year Ended 31 May 2023

for

Sky Line World Ltd

Sky Line World Ltd (Registered number: 09578734)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Sky Line World Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mr Tahir Aziz





REGISTERED OFFICE: GMH Vehicle Recyclers
Mardy Road
Cardiff
Wales
CF3 2EH





REGISTERED NUMBER: 09578734 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Sky Line World Ltd (Registered number: 09578734)

Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 47,569 64,040

CURRENT ASSETS
Inventories 414,984 396,340
Debtors 5 31,496 977
Cash at bank and in hand 97,647 178,132
544,127 575,449
CREDITORS
Amounts falling due within one year 6 366,519 416,649
NET CURRENT ASSETS 177,608 158,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,177

222,840

CREDITORS
Amounts falling due after more than one
year

7

40,125

46,091
NET ASSETS 185,052 176,749

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 185,051 176,748
SHAREHOLDERS' FUNDS 185,052 176,749

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Sky Line World Ltd (Registered number: 09578734)

Statement of Financial Position - continued
31 May 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 director and authorised for issue on 1 February 2024 and were signed by:





Mr Tahir Aziz - Director


Sky Line World Ltd (Registered number: 09578734)

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

1. STATUTORY INFORMATION

Sky Line World 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 16 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 164,674
DEPRECIATION
At 1 June 2022 100,634
Charge for year 16,471
At 31 May 2023 117,105
NET BOOK VALUE
At 31 May 2023 47,569
At 31 May 2022 64,040

Sky Line World Ltd (Registered number: 09578734)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 30,000 -
Other debtors 1,496 977
31,496 977

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 33,498 53,447
Taxation and social security 22,609 24,378
Other creditors 310,412 338,824
366,519 416,649

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 40,125 46,091

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary £1 1 1

9. RELATED PARTY DISCLOSURES

During the year, the Company has paid rent of £18,000 (£18,000 : 2022) in respect of use of business property owned by the director.