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REGISTERED NUMBER: 04683947 (England and Wales)














Unaudited Financial Statements

for the Period 30 August 2022 to 31 August 2023

for

Sky Global Properties Ltd

Sky Global Properties Ltd (Registered number: 04683947)






Contents of the Financial Statements
for the Period 30 August 2022 to 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sky Global Properties Ltd

Company Information
for the Period 30 August 2022 to 31 August 2023







DIRECTOR: M Sluckis Esq





SECRETARY: Mrs G Z Sluckis





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
M3 2PJ





REGISTERED NUMBER: 04683947 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Sky Global Properties Ltd (Registered number: 04683947)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 128 151
Investment property 5 607,893 607,893
608,021 608,044

CURRENT ASSETS
Stocks 660,566 660,566
Debtors 6 6,829 12,429
Cash at bank 101,591 532,689
768,986 1,205,684
CREDITORS
Amounts falling due within one year 7 975,097 1,453,185
NET CURRENT LIABILITIES (206,111 ) (247,501 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,910

360,543

CREDITORS
Amounts falling due after more than one
year

8

(300,000

)

(300,000

)

PROVISIONS FOR LIABILITIES (33 ) (33 )
NET ASSETS 101,877 60,510

CAPITAL AND RESERVES
Called up share capital 105,099 105,099
Retained earnings (3,222 ) (44,589 )
SHAREHOLDERS' FUNDS 101,877 60,510

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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 Global Properties Ltd (Registered number: 04683947)

Balance Sheet - continued
31 August 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 August 2024 and were signed by:





M Sluckis Esq - Director


Sky Global Properties Ltd (Registered number: 04683947)

Notes to the Financial Statements
for the Period 30 August 2022 to 31 August 2023

1. STATUTORY INFORMATION

Sky Global Properties 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock and work in progress are valued at the lower of costs and net realisable value. Work in progress cost includes all direct expenditure and attributable overheads.

Long term contracts are valued at cost plus attributable profit less provision for foreseeable loss.

Taxation
Taxation for the period 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 period 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.

Going concern
The company's financial statements for the year ended 31 August 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Sky Global Properties Ltd (Registered number: 04683947)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 31 August 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 30 August 2022
and 31 August 2023 340 3,000 3,340
DEPRECIATION
At 30 August 2022 189 3,000 3,189
Charge for period 23 - 23
At 31 August 2023 212 3,000 3,212
NET BOOK VALUE
At 31 August 2023 128 - 128
At 29 August 2022 151 - 151

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 August 2022
and 31 August 2023 607,893
NET BOOK VALUE
At 31 August 2023 607,893
At 29 August 2022 607,893

The director considers the market value of the property to be £607,893 (2022: £607,893).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,889 5,464
Other debtors 3,940 6,965
6,829 12,429

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 9,747 13,635
Other creditors 965,350 1,439,550
975,097 1,453,185

Sky Global Properties Ltd (Registered number: 04683947)

Notes to the Financial Statements - continued
for the Period 30 August 2022 to 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 300,000 300,000

9. RELATED PARTY DISCLOSURES

Included within other creditors is the director's current account balance of £446,225 (2022: £684,825). There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.