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REGISTERED NUMBER: 04104178 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SKY BLUE DEVELOPMENTS LIMITED

SKY BLUE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04104178)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

SKY BLUE DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: CCW Trodd
Mrs S J Trodd





SECRETARY: CCW Trodd





REGISTERED OFFICE: Kingston House
Fox Pond Lane
Lymington
Hampshire
SO41 8FW





REGISTERED NUMBER: 04104178 (England and Wales)





ACCOUNTANTS: Higson & Co (Deal) Ltd
45 Queen Street
Deal
Kent
CT14 6EY

SKY BLUE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04104178)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 499 837
Investment property 5 1,050,000 1,050,000
1,050,499 1,050,837

CURRENT ASSETS
Debtors 6 2,541 1,866
Cash at bank 2,557 27,825
5,098 29,691
CREDITORS
Amounts falling due within one year 7 597,696 630,118
NET CURRENT LIABILITIES (592,598 ) (600,427 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,901

450,410

CREDITORS
Amounts falling due after more than one
year

8

(56,909

)

(56,909

)

PROVISIONS FOR LIABILITIES 10 (62,730 ) (62,730 )
NET ASSETS 338,262 330,771

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 11 267,426 267,426
Retained earnings 70,834 63,343
SHAREHOLDERS' FUNDS 338,262 330,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SKY BLUE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04104178)

BALANCE SHEET - continued
30 NOVEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2024 and were signed on its behalf by:





CCW Trodd - Director


SKY BLUE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04104178)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Sky Blue Developments 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 financial statements are presented in round pounds £ 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 as modified by the revaluation of certain assets.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SKY BLUE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04104178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 258 400 847 1,505
DEPRECIATION
At 1 December 2022 125 203 340 668
Charge for year 33 49 256 338
At 30 November 2023 158 252 596 1,006
NET BOOK VALUE
At 30 November 2023 100 148 251 499
At 30 November 2022 133 197 507 837

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,050,000
NET BOOK VALUE
At 30 November 2023 1,050,000
At 30 November 2022 1,050,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2016 100,815
Valuation in 2018 45,000
Valuation in 2019 65,139
Valuation in 2020 26,606
Valuation in 2021 127,653
Valuation in 2022 (35,057 )
Cost 719,844
1,050,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 795 120
DPS control account 1,213 1,213
Prepayments 533 533
2,541 1,866

SKY BLUE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04104178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 630
Tax 2,775 910
Rent deposits 3,463 3,463
Directors' current accounts 590,768 624,455
Accrued expenses 690 660
597,696 630,118

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Mortgage 56,909 56,909

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 56,909 56,909

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 56,909 56,909

The mortgage was secured on the property at 56 St Andrews Road, Deal, Kent.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 62,730 62,730

Deferred
tax
£   
Balance at 1 December 2022 62,730
Balance at 30 November 2023 62,730

Deferred tax is provided on the fair value adjustments made to the Company's investment properties.

SKY BLUE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04104178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

11. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 267,426

SKY BLUE DEVELOPMENTS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
SKY BLUE DEVELOPMENTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2023 set out on pages one to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Higson & Co (Deal) Ltd
45 Queen Street
Deal
Kent
CT14 6EY


31 August 2024