Registered number
13005602
Skyware London Ltd
Filleted Accounts
for the year ended 30 November 2023
Skyware London Ltd
Registered number: 13005602
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,611 3,264
Current assets
Stocks 13,066 4,810
Debtors 4 12 -
Cash at bank and in hand 407 3,872
13,485 8,682
Creditors: amounts falling due within one year 5 (50,753) (12,119)
Net current liabilities (37,268) (3,437)
Net liabilities (34,657) (173)
Capital and reserves
Called up share capital 1 1
Profit and loss account (34,658) (174)
Shareholder's funds (34,657) (173)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Seher E Gul Mehmood
Director
Approved by the board on 29 August 2024
Skyware London Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts . Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture, fixture & equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Furniture, fixture & equipment
£
Cost
At 1 December 2022 5,100
At 30 November 2023 5,100
Depreciation
At 1 December 2022 1,836
Charge for the year 653
At 30 November 2023 2,489
Net book value
At 30 November 2023 2,611
At 30 November 2022 3,264
4 Debtors 2023 2022
£ £
Other debtors 12 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 55,765 -
Taxation and social security costs 1,735 -
Other creditors (6,747) 12,119
50,753 12,119
6 Other information
Skyware London Ltd is a private company limited by shares and incorporated in England. Its registered office is:
124a Dunstable Road
Luton
England
LU1 1EW
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