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Company Registration No. 06398304 (England and Wales)
Skylark Rise Limited Unaudited accounts for the year ended 29 October 2023
Skylark Rise Limited Unaudited accounts Contents
Page
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Skylark Rise Limited Company Information for the year ended 29 October 2023
Directors
R A Cheesman J Lloyd-Leech
Company Number
06398304 (England and Wales)
Registered Office
Dylan House 17 Bowens Lane Petersfield Hampshire GU31 4DL UK
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Skylark Rise Limited Statement of financial position as at 29 October 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
1,015,043 
- 
Debtors
2 
- 
Cash at bank and in hand
44,971 
2 
1,060,016 
2 
Creditors: amounts falling due within one year
(1,062,080)
- 
Net current (liabilities)/assets
(2,064)
2 
Net (liabilities)/assets
(2,064)
2 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(2,066)
- 
Shareholders' funds
(2,064)
2 
For the year ending 29 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
R A Cheesman Director Company Registration No. 06398304
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Skylark Rise Limited Notes to the Accounts for the year ended 29 October 2023
1
Statutory information
Skylark Rise Limited is a private company, limited by shares, registered in England and Wales, registration number 06398304. The registered office is Dylan House, 17 Bowens Lane, Petersfield, Hampshire, GU31 4DL, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's inventories. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
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Skylark Rise Limited Notes to the Accounts for the year ended 29 October 2023
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
2 
- 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
1,061,000 
- 
Accruals
1,080 
- 
1,062,080 
- 
6
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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