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REGISTERED NUMBER: 06652293 (England and Wales)















SKYE DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






SKYE DESIGN LIMITED (REGISTERED NUMBER: 06652293)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


SKYE DESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mrs A T Burtt





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 06652293 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

SKYE DESIGN LIMITED (REGISTERED NUMBER: 06652293)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 2,135 2,530
Debtors 5 18,415 25,138
Cash at bank 20,474 12,498
41,024 40,166
CREDITORS
Amounts falling due within one year 6 19,801 23,630
NET CURRENT ASSETS 21,223 16,536
TOTAL ASSETS LESS CURRENT LIABILITIES 21,223 16,536

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 21,123 16,436
SHAREHOLDERS' FUNDS 21,223 16,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mrs A T Burtt - Director


SKYE DESIGN LIMITED (REGISTERED NUMBER: 06652293)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Skye Design Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the fair value of net invoiced sales of goods, excluding value added tax. Sales are recognised upon delivery to the customer, or upon collection by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 5 years
Fixtures and fittings - 25% on cost
Computer equipment - Straight line over 3 years





Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and fair value of cost to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SKYE DESIGN LIMITED (REGISTERED NUMBER: 06652293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 26,750 4,400 3,304 34,454
DEPRECIATION
At 1 June 2023
and 31 May 2024 26,750 4,400 3,304 34,454
NET BOOK VALUE
At 31 May 2024 - - - -
At 31 May 2023 - - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 9,709
Other debtors 15,429 15,429
Prepayments 2,986 -
18,415 25,138

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,035 4,713
Taxation 1,451 640
VAT 1,651 1,887
Other creditors 10,236 10,236
Directors' current accounts 2,478 3,166
Accruals and deferred income 1,950 2,988
19,801 23,630

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100