BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity is that of a Bar and Off Licence 8 August 2024 5 5 NI623598 2023-12-31 NI623598 2022-12-31 NI623598 2021-12-31 NI623598 2023-01-01 2023-12-31 NI623598 2022-01-01 2022-12-31 NI623598 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI623598 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI623598 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI623598 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI623598 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI623598 uk-core:ShareCapital 2023-12-31 NI623598 uk-core:ShareCapital 2022-12-31 NI623598 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI623598 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI623598 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI623598 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI623598 uk-bus:FRS102 2023-01-01 2023-12-31 NI623598 uk-core:Goodwill 2023-01-01 2023-12-31 NI623598 uk-core:Land 2023-01-01 2023-12-31 NI623598 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI623598 uk-core:IntangibleAssetsOtherThanGoodwill 2022-12-31 NI623598 uk-core:Goodwill 2022-12-31 NI623598 uk-core:IntangibleAssetsOtherThanGoodwill 2023-12-31 NI623598 uk-core:Goodwill 2023-12-31 NI623598 uk-core:IntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 NI623598 uk-core:CurrentFinancialInstruments 2023-12-31 NI623598 uk-core:CurrentFinancialInstruments 2022-12-31 NI623598 uk-core:WithinOneYear 2023-12-31 NI623598 uk-core:WithinOneYear 2022-12-31 NI623598 uk-core:OtherMiscellaneousReserve 2022-12-31 NI623598 uk-core:OtherMiscellaneousReserve 2023-01-01 2023-12-31 NI623598 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI623598 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI623598 uk-core:OtherDeferredTax 2023-12-31 NI623598 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 NI623598 uk-core:OtherMiscellaneousReserve 2023-12-31 NI623598 2023-01-01 2023-12-31 NI623598 uk-bus:Director1 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI623598
 
 
Sky Blue Pubs (N.I.) Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023



Sky Blue Pubs (N.I.) Limited

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Sky Blue Pubs (N.I.) Limited
for the financial year ended 31 December 2023
 
In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 December 2023 as set out on pages  to 12 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Sky Blue Pubs (N.I.) Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and we compiled the financial statements in accordance with the guidance contained in Compilation Engagements Technical Statement and the International Standard on Related Services 4410 (Revised), Compilation Engagements from the accounting records and information and explanations supplied to us by the directors, and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 December 2023 your duty to ensure that Sky Blue Pubs (N.I.) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sky Blue Pubs (N.I.) Limited. You consider that Sky Blue Pubs (N.I.) Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Sky Blue Pubs (N.I.) Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
8 August 2024



Sky Blue Pubs (N.I.) Limited
Company Registration Number: NI623598
STATEMENT OF FINANCIAL POSITION
as at 31 December 2023

2023 2022
Notes £ £
 
Non-Current Assets
Intangible assets 4 59,823 62,823
Property, plant and equipment 5 126,460 113,001
───────── ─────────
Non-Current Assets 186,283 175,824
───────── ─────────
 
Current Assets
Inventories 6 30,875 25,224
Receivables 7 7,153 5,582
Cash and cash equivalents 305,253 277,815
───────── ─────────
343,281 308,621
───────── ─────────
Payables: amounts falling due within one year 8 80,027 124,162
───────── ─────────
Net Current Assets 423,308 432,783
───────── ─────────
Total Assets less Current Liabilities 609,591 608,607
 
Provisions for liabilities 10 (9,493) (8,670)
───────── ─────────
Net Assets 600,098 599,937
═════════ ═════════
 
Equity
Called up share capital 2 2
Retained earnings 600,096 599,935
───────── ─────────
Equity attributable to owners of the company 600,098 599,937
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 8 August 2024
           
           
________________________________          
Saveways          
Director          
           



Sky Blue Pubs (N.I.) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Sky Blue Pubs (N.I.) Limited is a company limited by shares incorporated in Northern Ireland. Flax Centre, 60 Ardoyne Avenue, Belfast, BT14 7DA is the registered office, Unit 4, Twin Spires Centre, 155 Northumberland Street, Belfast, BT13 2JF is the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Licence
Licence are valued at cost less accumulated amortisation.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 2% Straight line
  Fixtures, fittings and equipment - 15% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Inventories
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 5, (2022 - 5).
 
  2023 2022
  Number Number
 
Number of Employees 5 5
  ═════════ ═════════
         
4. Intangible assets
  Licence    
    Goodwill Total
  £ £ £
Cost
At 1 January 2023 59,823 30,000 89,823
  ───────── ───────── ─────────
 
At 31 December 2023 59,823 30,000 89,823
  ───────── ───────── ─────────
Amortisation
At 1 January 2023 - 27,000 27,000
Charge for financial year - 3,000 3,000
  ───────── ───────── ─────────
At 31 December 2023 - 30,000 30,000
  ───────── ───────── ─────────
Carrying amount
At 31 December 2023 59,823 - 59,823
  ═════════ ═════════ ═════════
At 31 December 2022 59,823 3,000 62,823
  ═════════ ═════════ ═════════
         
5. Property, plant and equipment
  Long Fixtures, Total
  leasehold fittings and  
  property equipment  
  £ £ £
Cost
At 1 January 2023 202,602 162,940 365,542
Additions 29,888 11,125 41,013
  ───────── ───────── ─────────
At 31 December 2023 232,490 174,065 406,555
  ───────── ───────── ─────────
Depreciation
At 1 January 2023 135,221 117,320 252,541
Charge for the financial year 20,767 6,787 27,554
  ───────── ───────── ─────────
At 31 December 2023 155,988 124,107 280,095
  ───────── ───────── ─────────
Carrying amount
At 31 December 2023 76,502 49,958 126,460
  ═════════ ═════════ ═════════
At 31 December 2022 67,381 45,620 113,001
  ═════════ ═════════ ═════════
       
6. Inventories 2023 2022
  £ £
 
Finished goods and goods for resale 30,875 25,224
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Receivables 2023 2022
  £ £
 
Other debtors 3,720 2,883
Prepayments and accrued income 3,433 2,699
  ───────── ─────────
  7,153 5,582
  ═════════ ═════════
       
8. Payables 2023 2022
Amounts falling due within one year £ £
 
Trade payables 106,096 62,935
Amounts owed to connected parties (Note 12) (212,941) (285,551)
Taxation  (Note 9) 23,080 86,091
Director's current account 488 85
Accruals 3,250 12,278
  ───────── ─────────
  (80,027) (124,162)
  ═════════ ═════════
       
9. Taxation 2023 2022
  £ £
 
Payables:
VAT 18,909 54,717
Corporation tax 1,579 30,495
PAYE / NI 2,592 693
Machine Games Duty - 186
  ───────── ─────────
  23,080 86,091
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 8,670 8,670 9,770
Charged to profit and loss 823 823 (1,100)
  ───────── ───────── ─────────
At financial year end 9,493 9,493 8,670
  ═════════ ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
           
12. Related party transactions
 
The following amounts are due to other connected parties:
      2023 2022
      £ £
 
Saveways     (212,941) (285,551)
      ═════════ ═════════
 
Brendan McKee is a director in Sky Blue Pubs (N.I.) Limited and the proprietor in Saveways. As at 1 January 2023 Saveways owed Sky Blue Pubs (N.I.) Limited a balance of £285,551. During the year net transactions totalled £72,610. As at 31 December 2023, Saveways owed Sky Blue Pubs (N.I.) Limited £212,941.