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SKYWARD ENGINEERING LTD

Registered Number
SC641180
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2023

SKYWARD ENGINEERING LTD
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

WARD, Steven

Registered Address

2 Hoy Avenue
Newton Mearns
Glasgow
G77 5GZ

Registered Number

SC641180 (Scotland)
SKYWARD ENGINEERING LTD
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors73,18871,373
Cash at bank and on hand5,8333,771
79,02175,144
Creditors amounts falling due within one year4(61,368)(51,698)
Net current assets (liabilities)17,65323,446
Total assets less current liabilities17,65323,446
Creditors amounts falling due after one year5(17,165)(23,426)
Net assets48820
Capital and reserves
Called up share capital1010
Profit and loss account47810
Shareholders' funds48820
The financial statements were approved and authorised for issue by the Director on 6 March 2024, and are signed on its behalf by:
WARD, Steven
Director
Registered Company No. SC641180
SKYWARD ENGINEERING LTD
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment2
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 22700700
At 30 September 23700700
Depreciation and impairment
At 01 October 22700700
At 30 September 23700700
Net book value
At 30 September 23--
At 30 September 22--
4.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts6,0006,000
Taxation and social security54,94845,698
Accrued liabilities and deferred income420-
Total61,36851,698
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts17,16523,426
Total17,16523,426