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Company Registration No. 11049814 (England and Wales)
Skyway Estates Limited Unaudited accounts for the year ended 30 November 2023
Skyway Estates Limited Unaudited accounts Contents
Page
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Skyway Estates Limited Company Information for the year ended 30 November 2023
Director
Mr Y S Stern
Secretary
Mr M Erlich
Company Number
11049814 (England and Wales)
Registered Office
18 Lynmouth Road London N16 6XL England
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Skyway Estates Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
2,369,062 
2,369,062 
Investments
200 
200 
2,369,262 
2,369,262 
Current assets
Debtors
317,020 
327,961 
Cash at bank and in hand
2,562 
7,287 
319,582 
335,248 
Creditors: amounts falling due within one year
(730,070)
(701,242)
Net current liabilities
(410,488)
(365,994)
Total assets less current liabilities
1,958,774 
2,003,268 
Creditors: amounts falling due after more than one year
(1,609,739)
(1,604,236)
Provisions for liabilities
Deferred tax
(49,000)
(49,000)
Net assets
300,035 
350,032 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
300,034 
350,031 
Shareholders' funds
300,035 
350,032 
For the year ending 30 November 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 director acknowledges his 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 and authorised for issue on 12 August 2024 and were signed on its behalf by
Mr Y S Stern Director Company Registration No. 11049814
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Skyway Estates Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Skyway Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 11049814. The registered office is 18 Lynmouth Road, London, N16 6XL, England.
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.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Skyway Estates Limited Notes to the Accounts for the year ended 30 November 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2023 
£ 
Fair value at 1 December 2022
2,369,062 
At 30 November 2023
2,369,062 
The investment property at 30 November 2023 is stated at director's estimation of open market value. The historic cost of the property is £2,169,494 (2022: £2,169,494).
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 December 2022
200 
Valuation at 30 November 2023
200 
The company owns the whole of the issued share capital of Multi Sky Estates Limited and Market Estates Limited which are incorporated in Great Britain and registered in England. Multi Sky Estates Limited owns the whole of the issued share capital of M&Y Estates Limited which is incorporated in Great Britain and registered in England. Consolidated Financial Statements have not been prepared as the company has taken advantage of the exemptions conferred by Section 398 Companies Act 2006.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
289 
240 
Trade debtors
- 
5,549 
Accrued income and prepayments
9,350 
13,526 
Other debtors
307,381 
308,646 
317,020 
327,961 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
730,070 
701,242 
Other creditors include amounts aggregating £725,861 (2022: £696,494) due to the director and companies with directors in common with the company.
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Skyway Estates Limited Notes to the Accounts for the year ended 30 November 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,609,739 
1,604,236 
The bank loans are secured on the company's investment properties.
9
Transactions with related parties
Other debtors consists of amounts owed by companies with a director in common with the company (2022: £308,646).
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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