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REGISTERED NUMBER: SC288853 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

Skyform Specialist Contracts Limited

Skyform Specialist Contracts Limited (Registered number: SC288853)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Skyform Specialist Contracts Limited

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr J Campbell
Mrs H A Campbell





REGISTERED OFFICE: 35-37 Watt Road
Glasgow
G52 4SS





REGISTERED NUMBER: SC288853 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Skyform Specialist Contracts Limited (Registered number: SC288853)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,550 60,900

CURRENT ASSETS
Stocks 20,500 23,000
Debtors 5 288,706 381,893
Cash at bank and in hand 269,742 429,688
578,948 834,581
CREDITORS
Amounts falling due within one year 6 364,309 420,869
NET CURRENT ASSETS 214,639 413,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,189

474,612

CREDITORS
Amounts falling due after more than one
year

7

(45,700

)

(63,087

)

PROVISIONS FOR LIABILITIES (12,074 ) (11,571 )
NET ASSETS 220,415 399,954

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 220,315 399,854
SHAREHOLDERS' FUNDS 220,415 399,954

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Skyform Specialist Contracts Limited (Registered number: SC288853)

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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:




Mr J Campbell - Director



Mrs H A Campbell - Director


Skyform Specialist Contracts Limited (Registered number: SC288853)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Skyform Specialist Contracts Limited is a private company, limited by shares , registered in Scotland. 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.

TURNOVER
Turnover represents amounts invoiced during the year net, exclusive of Value Added Tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Skyform Specialist Contracts Limited (Registered number: SC288853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 makes payments on behalf of the employees into a money purchase pension scheme.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2022 - 49 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 76,871
Additions 29,250
At 31 August 2023 106,121
DEPRECIATION
At 1 September 2022 15,971
Charge for year 26,600
At 31 August 2023 42,571
NET BOOK VALUE
At 31 August 2023 63,550
At 31 August 2022 60,900

Skyform Specialist Contracts Limited (Registered number: SC288853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2022 71,689
Additions 29,250
At 31 August 2023 100,939
DEPRECIATION
At 1 September 2022 15,789
Charge for year 25,300
At 31 August 2023 41,089
NET BOOK VALUE
At 31 August 2023 59,850
At 31 August 2022 55,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 189,207 150,623
Amounts owed by group undertakings 99,499 231,270
288,706 381,893

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 24,938 16,163
Trade creditors 131,805 162,313
Pension fund 21,613 8,821
Tax 72,036 130,385
Social security and other taxes (16,099 ) (46,721 )
VAT 81,464 106,202
Directors' current accounts 6 6
Sundry creditors 346 -
Accrued expenses 38,200 33,700
364,309 420,869

Skyform Specialist Contracts Limited (Registered number: SC288853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 7,500 17,500
Hire purchase contracts 28,200 35,587
45,700 63,087

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
Mr J Campbell
Balance outstanding at start of year (3 ) (3 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3 ) (3 )

Mrs H A Campbell
Balance outstanding at start of year (3 ) (3 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3 ) (3 )

9. RELATED PARTY DISCLOSURES

The company has been charged £650,000 (2022-£625.000) from Skyform (Scotland) Limited to cover costs paid on its behalf.