Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10707990 2023-05-01 2024-04-30 10707990 2022-05-01 2023-04-30 10707990 2024-04-30 10707990 2023-04-30 10707990 2022-05-01 10707990 c:Director1 2023-05-01 2024-04-30 10707990 d:CurrentFinancialInstruments 2024-04-30 10707990 d:CurrentFinancialInstruments 2023-04-30 10707990 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10707990 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10707990 d:ShareCapital 2024-04-30 10707990 d:ShareCapital 2023-04-30 10707990 d:RetainedEarningsAccumulatedLosses 2024-04-30 10707990 d:RetainedEarningsAccumulatedLosses 2023-04-30 10707990 c:OrdinaryShareClass1 2023-05-01 2024-04-30 10707990 c:OrdinaryShareClass1 2024-04-30 10707990 c:FRS102 2023-05-01 2024-04-30 10707990 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10707990 c:FullAccounts 2023-05-01 2024-04-30 10707990 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10707990 6 2023-05-01 2024-04-30 10707990 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 10707990 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 10707990 d:OtherDeferredTax 2024-04-30 10707990 d:OtherDeferredTax 2023-04-30 10707990 2 2024-04-30 10707990 2 2023-04-30 10707990 f:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10707990









SKALEGO LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
SKALEGO LIMITED
REGISTERED NUMBER: 10707990

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
176,089
180,747

  
176,089
180,747

Current assets
  

Debtors: amounts falling due within one year
 5 
13,751
9,504

Cash at bank and in hand
  
19,181
28,377

  
32,932
37,881

Creditors: amounts falling due within one year
 6 
(191,043)
(190,893)

Net current liabilities
  
 
 
(158,111)
 
 
(153,012)

Total assets less current liabilities
  
17,978
27,735

  

Net assets
  
17,978
27,735


Capital and reserves
  

Called up share capital 
 8 
5,000
5,000

Profit and loss account
  
12,978
22,735

  
17,978
27,735


Page 1

 
SKALEGO LIMITED
REGISTERED NUMBER: 10707990

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr H Patricot
Director

Date: 21 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SKALEGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Skalego Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Number 22 Mount Ephraim, Tunbridge Wells, TN4 8AS. This Company is not part of a group.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SKALEGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

VALUATION OF INVESTMENTS

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
SKALEGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


FIXED ASSET INVESTMENTS





Unlisted investments

£



COST


At 1 May 2023
561,990


Foreign exchange movement
(4,658)



At 30 April 2024

557,332



Impairment


At 1 May 2023
381,243



At 30 April 2024

381,243



Net book value



At 30 April 2024
176,089



At 30 April 2023
180,747


5.


DEBTORS

2024
2023
£
£


Other debtors
-
2,906

Prepayments and accrued income
1,100
917

Deferred taxation
12,651
5,681

13,751
9,504



6.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Other creditors
188,843
188,843

Accruals and deferred income
2,200
2,050

191,043
190,893


Page 5

 
SKALEGO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
5,681
5,422


Charged to profit or loss
6,970
259



At end of year
12,651
5,681

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
10,945
5,140

Revaluation of fixed asset investments
1,706
541

12,651
5,681


8.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



5,000 Ordinary shares of £1 each
5,000
5,000



9.


RELATED PARTY TRANSACTIONS

During the year the Company operated a loan with the director of the Company. The amount payable to the director of the Company at the year end was £188,844 (2023 - £188,844). This loan is interest free and repayable on demand.


Page 6