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Skyland Equipment Limited

Unaudited Financial Statements for the Year Ended 31 December 2021






Skyland Equipment Limited (Registered number: 07869297)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Skyland Equipment Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: M J Hughes
B M J Hughes





REGISTERED OFFICE: Unit 17
Wheathill Industrial Estate
Holt Lane
Liverpool
Merseyside
L27 0YA





REGISTERED NUMBER: 07869297 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

Skyland Equipment Limited (Registered number: 07869297)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 534 634

CURRENT ASSETS
Stocks 339,941 298,173
Debtors 5 18,506 31,596
Cash at bank 58,805 86,951
417,252 416,720
CREDITORS
Amounts falling due within one year 6 499,518 467,147
NET CURRENT LIABILITIES (82,266 ) (50,427 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(81,732

)

(49,793

)

CREDITORS
Amounts falling due after more than one
year

7

(34,836

)

(45,000

)

PROVISIONS FOR LIABILITIES (101 ) -
NET LIABILITIES (116,669 ) (94,793 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (116,671 ) (94,795 )
SHAREHOLDERS' FUNDS (116,669 ) (94,793 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Skyland Equipment Limited (Registered number: 07869297)

Balance Sheet - continued
31 December 2021


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 29 July 2024 and were signed on its behalf by:





M J Hughes - Director


Skyland Equipment Limited (Registered number: 07869297)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Skyland Equipment 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 20% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 1,698
DEPRECIATION
At 1 January 2021 1,064
Charge for year 100
At 31 December 2021 1,164
NET BOOK VALUE
At 31 December 2021 534
At 31 December 2020 634

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 18,506 31,596

Skyland Equipment Limited (Registered number: 07869297)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 9,646 5,000
Trade creditors 105,022 89,763
Taxation and social security 57,601 45,763
Other creditors 327,249 326,621
499,518 467,147

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 34,836 45,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,000

8. ULTIMATE CONTROLLING PARTY

By virtue of the share ownership split of the company, it is the opinion of the directors that there is no ultimate controlling party.