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Registration number: 03780324

Skyline Interior Design Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

Skyline Interior Design Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Skyline Interior Design Limited

Company Information

Director

K M Chandler

Registered office

21 Hanover Walk
Weybridge
Surrey
KT13 9QX

Accountants

David A Budgeon BA(Hons) FCCA
Chartered Certified Accountant
66 Milner Road
Caterham
Surrey
CR3 6JR

 

Skyline Interior Design Limited

(Registration number: 03780324)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

101

252

Current assets

 

Debtors

6

749

760

Cash at bank and in hand

 

3,157

6,337

 

3,906

7,097

Prepayments and accrued income

 

24

23

Creditors: Amounts falling due within one year

(819)

(1,669)

Net current assets

 

3,111

5,451

Total assets less current liabilities

 

3,212

5,703

Accruals and deferred income

 

(500)

(488)

Net assets

 

2,712

5,215

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

2,710

5,213

Shareholders' funds

 

2,712

5,215

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Skyline Interior Design Limited

(Registration number: 03780324)
Abridged Balance Sheet as at 30 June 2023

Approved and authorised by the director on 13 March 2024
 

.........................................

K M Chandler

Director

 

Skyline Interior Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
21 Hanover Walk
Weybridge
Surrey
KT13 9QX

These financial statements were authorised for issue by the director on 13 March 2024.

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 abridged 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 abridged 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.

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:

 

Skyline Interior Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Tools

25% straight line basis

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 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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Skyline Interior Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

151

151

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

2,161

404

2,565

At 30 June 2023

2,161

404

2,565

Depreciation

At 1 July 2022

2,111

202

2,313

Charge for the year

50

101

151

At 30 June 2023

2,161

303

2,464

Carrying amount

At 30 June 2023

-

101

101

At 30 June 2022

50

202

252

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

Skyline Interior Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,500

11,658

Contributions paid to money purchase schemes

1,254

2,475

10,754

14,133