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Registered number: 08601045
Cold Sky Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08601045
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,027,500 618,000
Investments 5 93,334 93,334
1,120,834 711,334
CURRENT ASSETS
Debtors 6 1,017 533
Cash at bank and in hand 16,611 7,223
17,628 7,756
Creditors: Amounts Falling Due Within One Year 7 (200,447 ) 2,153
NET CURRENT ASSETS (LIABILITIES) (182,819 ) 9,909
TOTAL ASSETS LESS CURRENT LIABILITIES 938,015 721,243
Creditors: Amounts Falling Due After More Than One Year 8 (387,456 ) (202,864 )
NET ASSETS 550,559 518,379
CAPITAL AND RESERVES
Called up share capital 9 114,002 114,002
Profit and Loss Account 436,557 404,377
SHAREHOLDERS' FUNDS 550,559 518,379
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Oliver Booth
Director
Mr Dominic Spencer - Churchill
Director
16/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cold Sky Limited Registered number 08601045 is a limited by shares company incorporated in England & Wales. The Registered Office is Warren House, The Salterns, Tenby, Pembrokeshire, SA70 7NJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises of rent received and dividends received from the fixed asset investments. Dividends are included in turnover on that date that the right to receive payment has been established.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives, except freehold land and buildings.
Freehold No Depreciation
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 618,000
Additions 409,500
As at 31 March 2024 1,027,500
Net Book Value
As at 31 March 2024 1,027,500
As at 1 April 2023 618,000
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5. Investments
Other
£
Cost
As at 1 April 2023 93,334
As at 31 March 2024 93,334
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 93,334
As at 1 April 2023 93,334
The company holds 100% of the ordinary shares in Iludo Limited and 30% of the shareholding in Iludo82 Ltd.
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,017 533
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 49,212 24,216
Corporation tax 10,722 2,462
Rent Deposit 3,403 3,403
Accrued expenses 984 840
Amounts owed to group undertakings 136,126 (33,074 )
200,447 (2,153 )
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 387,456 202,864
Bank loan is secured by way of first charge over the property and company's assets.
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
114,002 Ordinary Shares of £ 1.00 each 114,002 114,002
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Page 5
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 40,000 32,000
11. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of their share capital in the company.
12. Exemption
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.
Page 5