Company registration number 04736631 (England and Wales)
BLUE SKY COMMERCIAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
BLUE SKY COMMERCIAL LIMITED
COMPANY INFORMATION
Directors
Mr R W Ireland
Mr C J Bailey
Secretary
Mr R W Ireland
Company number
04736631
Registered office
Narrowboat Way
Hurst Business Park
Brierley Hill
West Midlands
DY5 1UF
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
The Royal Bank of Scotland plc
195 High Street
Dudley
West Midlands
DY1 1QE
BLUE SKY COMMERCIAL LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
BLUE SKY COMMERCIAL LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BLUE SKY COMMERCIAL LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Blue Sky Commercial Limited for the year ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Blue Sky Commercial Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Blue Sky Commercial Limited and state those matters that we have agreed to state to the board of directors of Blue Sky Commercial Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Sky Commercial Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Blue Sky Commercial 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 Blue Sky Commercial Limited. You consider that Blue Sky Commercial Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Blue Sky Commercial Limited. For this reason, we have not verified the 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.

Ormerod Rutter Limited
9 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BLUE SKY COMMERCIAL LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
124,896
132,944
Investment property
4
4,212,883
4,160,102
4,337,779
4,293,046
Current assets
Debtors
5
16,421
9,610
Cash at bank and in hand
62,088
91,976
78,509
101,586
Creditors: amounts falling due within one year
6
(1,827,158)
(1,765,837)
Net current liabilities
(1,748,649)
(1,664,251)
Total assets less current liabilities
2,589,130
2,628,795
Creditors: amounts falling due after more than one year
7
(1,160,482)
(1,199,941)
Provisions for liabilities
9
(251,319)
(88,146)
Net assets
1,177,329
1,340,708
Capital and reserves
Called up share capital
10
100
100
Non-distributable reserve
12
636,424
636,424
Profit and loss reserves
540,805
704,184
Total equity
1,177,329
1,340,708

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BLUE SKY COMMERCIAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 9 September 2024 and are signed on its behalf by:
Mr R W Ireland
Director
Company registration number 04736631 (England and Wales)
BLUE SKY COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Blue Sky Commercial Limited is a private company limited by shares incorporated in England and Wales. The registered office is Narrowboat Way, Hurst Business Park, Brierley Hill, West Midlands, United Kingdom, DY5 1UF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents and electricity generated from solar panels provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration for rents takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on reducing balance
Fixtures and fittings
4% on cost
Computer equipment
25% on reducing balance
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BLUE SKY COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
179,116
193,489
340
372,945
Depreciation and impairment
At 1 May 2023
177,886
61,918
197
240,001
Depreciation charged in the year
308
7,740
-
0
8,048
At 30 April 2024
178,194
69,658
197
248,049
Carrying amount
At 30 April 2024
922
123,831
143
124,896
At 30 April 2023
1,230
131,571
143
132,944
BLUE SKY COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 May 2023
4,160,101
Additions
52,782
At 30 April 2024
4,212,883

The directors have assessed the fair value of the investment property at the year end and consider that there has been no significant change to the value as disclosed in the financial statements.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
996
1,055
Other debtors
15,425
8,555
16,421
9,610
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
42,788
46,118
Trade creditors
26,004
1,094
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,670,000
1,670,000
Taxation and social security
74,981
37,574
Other creditors
13,385
11,051
1,827,158
1,765,837
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,160,482
1,199,941
BLUE SKY COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
1,203,270
1,246,059

Bank loans are secured by way of a legal charge on the property to which it relates and a debenture fixed against the company,

9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
251,319
88,146
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
14
14
14
14
Ordinary B of £1 each
14
14
14
14
Ordinary C of £1 each
26
26
26
26
Ordinary D of £1 each
26
26
26
26
Ordinary E of £1 each
10
10
10
10
Ordinary F of £1 each
10
10
10
10
100
100
100
100
11
Ultimate controlling party

There is no ultimate controlling party.    

12
Non-distributable reserve
2024
2023
£
£
At the beginning and end of the year
636,424
636,424

The non-distributable reserve relates to the fair value surplus of investment property at the reporting end date.

2024-04-302023-05-01false09 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr C J BaileyMr C J BaileyMr R W Irelandfalsefalse047366312023-05-012024-04-3004736631bus:CompanySecretaryDirector12023-05-012024-04-3004736631bus:Director12023-05-012024-04-3004736631bus:CompanySecretary12023-05-012024-04-3004736631bus:Director22023-05-012024-04-3004736631bus:RegisteredOffice2023-05-012024-04-3004736631bus:Agent12023-05-012024-04-30047366312024-04-30047366312023-04-3004736631core:PlantMachinery2024-04-3004736631core:FurnitureFittings2024-04-3004736631core:ComputerEquipment2024-04-3004736631core:PlantMachinery2023-04-3004736631core:FurnitureFittings2023-04-3004736631core:ComputerEquipment2023-04-3004736631core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3004736631core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3004736631core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3004736631core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3004736631core:CurrentFinancialInstruments2024-04-3004736631core:CurrentFinancialInstruments2023-04-3004736631core:ShareCapital2024-04-3004736631core:ShareCapital2023-04-3004736631core:FurtherSpecificReserve1ComponentTotalEquity2024-04-3004736631core:FurtherSpecificReserve1ComponentTotalEquity2023-04-3004736631core:RetainedEarningsAccumulatedLosses2024-04-3004736631core:RetainedEarningsAccumulatedLosses2023-04-3004736631core:ShareCapitalOrdinaryShares2024-04-3004736631core:ShareCapitalOrdinaryShares2023-04-3004736631core:PlantMachinery2023-05-012024-04-3004736631core:FurnitureFittings2023-05-012024-04-3004736631core:ComputerEquipment2023-05-012024-04-30047366312022-05-012023-04-3004736631core:PlantMachinery2023-04-3004736631core:FurnitureFittings2023-04-3004736631core:ComputerEquipment2023-04-30047366312023-04-3004736631core:WithinOneYear2024-04-3004736631core:WithinOneYear2023-04-3004736631core:Non-currentFinancialInstruments2024-04-3004736631core:Non-currentFinancialInstruments2023-04-3004736631bus:PrivateLimitedCompanyLtd2023-05-012024-04-3004736631bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3004736631bus:FRS1022023-05-012024-04-3004736631bus:AuditExemptWithAccountantsReport2023-05-012024-04-3004736631bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP