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Registration number: 09409048

Prepared for the registrar

Tall Sky Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Tall Sky Holdings Limited

(Registration number: 09409048)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

11,120

11,120

Current assets

 

Debtors

5

3,606,103

2,187,357

Cash at bank and in hand

 

1,219,533

1,555,779

 

4,825,636

3,743,136

Creditors: Amounts falling due within one year

6

(12,399)

(9,529)

Net current assets

 

4,813,237

3,733,607

Net assets

 

4,824,357

3,744,727

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

4,824,347

3,744,717

Total equity

 

4,824,357

3,744,727

For the financial year ending 31 December 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 2 July 2024
 


Mr K Miller
Director

 

Tall Sky Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

1

General information

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

The address of its registered office is:
Brook House
Brookfield Business Park
Gravel Pit Lane
Cheltenham
Gloucestershire
GL52 3NQ
United Kingdom

 

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 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 financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and key sources of estimation uncertainty
No significant judgements or key sources of estimation uncertainty have been made by management in preparing these financial statements.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Tall Sky Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Tall Sky Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

4

Investments

2023
£

2022
£

Investments in subsidiaries

11,120

11,120

Subsidiaries

£

Cost

At 1 January 2023

11,120

Provision

Carrying amount

At 31 December 2023

11,120

At 31 December 2022

11,120

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Hazmatlink Limited

Brook House
Brookfield Business Park
Gravel Pit Lane
Cheltenham
GL52 3NQ

England

Ordinary

100%

100%

Tactical Hazmat Limited

Brook House
Brookfield Business Park
Gravel Pit Lane
Cheltenham
GL52 3NQ

England

Ordinary

100%

100%

Tall Sky Properties Limited

Brook House
Brookfield Business Park
Gravel Pit Lane
Cheltenham
GL52 3NQ

England

Ordinary

100%

100%

Cleeve View Holdings Limited

Brook House
Brookfield Business Park
Gravel Pit Lane
Cheltenham
GL52 3NQ

England

Ordinary A & B

100%

100%

 

Tall Sky Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Subsidiary undertakings

Hazmatlink Limited

The principal activity of Hazmatlink Limited is production and distribution of protective equipment.

Tactical Hazmat Limited

The principal activity of Tactical Hazmat Limited is training.

Tall Sky Properties Limited

The principal activity of Tall Sky Properties Limited is property rental.

Cleeve View Holdings Limited

The principal activity of Cleeve View Holdings Limited is management consultancy.

 

5

Debtors

Note

2023
 £

2022
 £

Amounts owed by related parties

8

3,553,943

2,126,047

Other debtors

 

52,160

61,310

   

3,606,103

2,187,357

 

6

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

7

6,435

3,772

Amounts due to related parties

8

4,832

4,832

Accrued expenses

 

1,132

925

 

12,399

9,529

 

7

Loans and borrowings

Note

2023
£

2022
£

Current loans and borrowings

Other borrowings

8

6,435

3,772

 

Tall Sky Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

8

Related party transactions

Summary of transactions with the director

At 31 December 2023, the company owed K Miller £6,435 (2022: £3,772) in the form of a director's loan account. The loan is unsecured, repayable on demand and no interest is payable.


Summary of transactions with subsidiaries

At 31 December 2023, the company owed £4,832 (2022: £4,832) to Tactical Hazmat Limited in the form an intercompany loan.

At 31 December 2023, the company was owed £2,490,236 (2022: £1,290,734) from Hazmatlink Limited in the form of an intercompany loan.

At 31 December 2023, the company was owed £542,480 (2022: £537,480) from Cleeve View Holdings Ltd in the form of an intercompany loan.

At 31 December 2023, the company was owed £521,227 (2022: £297,833) from Tall Sky Properties Ltd in the form of an intercompany loan.

All companies are under common control by the director K Miller, and outstanding balances are unsecured, interest-free and repayable on demand.