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REGISTERED NUMBER: 11423935 (England and Wales)















Sky-Frame Limited

Financial Statements

for the Year Ended 31 December 2023






Sky-Frame Limited (Registered number: 11423935)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Sky-Frame Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr D Gallego Moneta
Mr B Guhl
Mr A G Razzino





SECRETARY: EBS Corporate Services Limited





REGISTERED OFFICE: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 11423935 (England and Wales)





AUDITORS: Grenfell James Audit LLP, Statutory Auditor
13 The Courtyard
Timothy's Bridge Road
Stratford Upon Avon
Warwickshire
CV37 9NP

Sky-Frame Limited (Registered number: 11423935)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,846 47,631

CURRENT ASSETS
Debtors 5 163,577 182,724
Cash at bank 110,768 43,724
274,345 226,448
CREDITORS
Amounts falling due within one year 6 229,099 205,378
NET CURRENT ASSETS 45,246 21,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,092

68,701

PROVISIONS FOR LIABILITIES 6,042 8,750
NET ASSETS 64,050 59,951

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 24,050 19,951
64,050 59,951

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 16 February 2024 and were signed on its behalf by:





Mr A G Razzino - Director


Sky-Frame Limited (Registered number: 11423935)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Sky-Frame 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 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.

The financial statements have been prepared on the going concern basis due to the ongoing financial support of the Group.

Turnover
Turnover 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.
Improvements to property - Over the term of the lease
Fixtures and fittings - 3 - 5 years straight-line
Computer equipment - 33% on cost

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.

Sky-Frame Limited (Registered number: 11423935)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 73,977 28,247 2,580 104,804
DEPRECIATION
At 1 January 2023 45,175 9,737 2,261 57,173
Charge for year 16,454 6,012 319 22,785
At 31 December 2023 61,629 15,749 2,580 79,958
NET BOOK VALUE
At 31 December 2023 12,348 12,498 - 24,846
At 31 December 2022 28,802 18,510 319 47,631

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,048 19,356
Amounts owed by group undertakings 19,192 -
Other debtors 125,337 163,368
163,577 182,724

Sky-Frame Limited (Registered number: 11423935)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,799 5,663
Amounts owed to group undertakings 202,122 188,354
Taxation and social security 14,557 4,576
Other creditors 9,621 6,785
229,099 205,378

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 75,000 100,000
Between one and five years - 75,000
75,000 175,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Edward Grenfell James (Senior Statutory Auditor)
for and on behalf of Grenfell James Audit LLP, Statutory Auditor


Grenfell James Audit LLP

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

Sky-Frame Holding AG is regarded by the directors as being the company's immediate and ultimate parent undertaking. The company is registered in Switzerland.