Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activity1817true 02535682 2023-03-01 2024-02-29 02535682 2022-03-01 2023-02-28 02535682 2024-02-29 02535682 2023-02-28 02535682 c:Director2 2023-03-01 2024-02-29 02535682 d:Buildings 2023-03-01 2024-02-29 02535682 d:Buildings 2024-02-29 02535682 d:Buildings 2023-02-28 02535682 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02535682 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 02535682 d:Buildings d:LongLeaseholdAssets 2024-02-29 02535682 d:Buildings d:LongLeaseholdAssets 2023-02-28 02535682 d:PlantMachinery 2023-03-01 2024-02-29 02535682 d:PlantMachinery 2024-02-29 02535682 d:PlantMachinery 2023-02-28 02535682 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02535682 d:MotorVehicles 2023-03-01 2024-02-29 02535682 d:MotorVehicles 2024-02-29 02535682 d:MotorVehicles 2023-02-28 02535682 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02535682 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02535682 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 02535682 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 02535682 d:Goodwill 2023-03-01 2024-02-29 02535682 d:Goodwill 2024-02-29 02535682 d:Goodwill 2023-02-28 02535682 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 02535682 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 02535682 d:CurrentFinancialInstruments 2024-02-29 02535682 d:CurrentFinancialInstruments 2023-02-28 02535682 d:Non-currentFinancialInstruments 2024-02-29 02535682 d:Non-currentFinancialInstruments 2023-02-28 02535682 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 02535682 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 02535682 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 02535682 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 02535682 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 02535682 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 02535682 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 02535682 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 02535682 d:ShareCapital 2024-02-29 02535682 d:ShareCapital 2023-02-28 02535682 d:RetainedEarningsAccumulatedLosses 2024-02-29 02535682 d:RetainedEarningsAccumulatedLosses 2023-02-28 02535682 c:OrdinaryShareClass1 2023-03-01 2024-02-29 02535682 c:OrdinaryShareClass1 2024-02-29 02535682 c:OrdinaryShareClass1 2023-02-28 02535682 c:FRS102 2023-03-01 2024-02-29 02535682 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 02535682 c:FullAccounts 2023-03-01 2024-02-29 02535682 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02535682 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 02535682 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 02535682 d:OtherDeferredTax 2024-02-29 02535682 d:OtherDeferredTax 2023-02-28 02535682 2 2023-03-01 2024-02-29 02535682 d:Goodwill d:OwnedIntangibleAssets 2023-03-01 2024-02-29 02535682 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-03-01 2024-02-29 02535682 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-03-01 2024-02-29 02535682 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02535682









SKYVIEW SYSTEMS LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024







































 
SKYVIEW SYSTEMS LIMITED
REGISTERED NUMBER: 02535682

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
5,000
15,076

Tangible assets
 5 
382,765
387,330

  
387,765
402,406

Current assets
  

Stocks
 6 
296,816
209,315

Debtors: amounts falling due within one year
 7 
572,904
690,531

Cash at bank and in hand
 8 
176,966
128,614

  
1,046,686
1,028,460

Creditors: amounts falling due within one year
 9 
(719,985)
(719,122)

Net current assets
  
 
 
326,701
 
 
309,338

Total assets less current liabilities
  
714,466
711,744

Creditors: amounts falling due after more than one year
 10 
(89,353)
(110,090)

Provisions for liabilities
  

Deferred tax
 12 
(45,104)
(42,983)

  
 
 
(45,104)
 
 
(42,983)

Net assets
  
580,009
558,671


Capital and reserves
  

Called up share capital 
 13 
10
10

Profit and loss account
  
579,999
558,661

  
580,009
558,671


Page 1

 
SKYVIEW SYSTEMS LIMITED
REGISTERED NUMBER: 02535682
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider 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 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 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 comprehensive income 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: 




I E Cunningham
Director

Date: 27 November 2024


The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Skyview Systems Limited is a private company limited by shares and is incorporated in England and Wales. Company number 02535682.
The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY. 
The principal activity of the company is that of retailer of weather instrumentation.

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 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 profit or loss 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 comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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.


Page 5

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance or straight line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
L/Term Leasehold Property
-
10% straight line
Plant & machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 17).

Page 7

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Development expenditure
Trademarks
Intellectual property
Total

£
£
£
£



Cost


At 1 March 2023
33,599
760
100,000
134,359



At 29 February 2024

33,599
760
100,000
134,359



Amortisation


At 1 March 2023
33,599
684
85,000
119,283


Charge for the year on owned assets
-
76
10,000
10,076



At 29 February 2024

33,599
760
95,000
129,359



Net book value



At 29 February 2024
-
-
5,000
5,000



At 28 February 2023
-
76
15,000
15,076



Page 8

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Freehold property
L/Term Leasehold Property
Plant & machinery
Motor vehicles
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
433,204
88,528
223,842
223,152
968,726


Additions
-
-
5,694
49,093
54,787


Disposals
-
-
(45,237)
(23,714)
(68,951)



At 29 February 2024

433,204
88,528
184,299
248,531
954,562



Depreciation


At 1 March 2023
188,553
71,136
175,414
146,293
581,396


Charge for the year on owned assets
8,664
8,853
10,540
21,117
49,174


Disposals
-
-
(43,813)
(14,960)
(58,773)



At 29 February 2024

197,217
79,989
142,141
152,450
571,797



Net book value



At 29 February 2024
235,987
8,539
42,158
96,081
382,765



At 28 February 2023
244,651
17,392
48,428
76,859
387,330


6.


Stocks

29 February
28 February
2024
2023
£
£

Raw materials and consumables
296,816
209,315


Page 9

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
180,354
153,980

Other debtors
374,208
482,405

Prepayments and accrued income
18,342
54,146

572,904
690,531



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
176,966
128,614



9.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
26,608
25,731

Trade creditors
236,960
118,975

Amounts owed to group undertakings
36,188
40,544

Other taxation and social security
96,647
108,968

Other creditors
29,543
63,343

Accruals and deferred income
294,039
361,561

719,985
719,122



10.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
89,353
110,090


Page 10

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Amounts falling due within one year
26,608
25,731

Amounts falling due 1-2 years
27,784
26,868

Amounts falling due 2-5 years
61,570
83,223

115,962
135,822


Secured loans
Bank loans are secured against the business assets.


12.


Deferred taxation






2024


£






At beginning of year
(42,983)


Charged to profit or loss
(2,121)



At end of year
(45,104)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(45,089)
(43,224)

Other timing differences
(15)
241

(45,104)
(42,983)

Page 11

 
SKYVIEW SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

13.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) Ordinary shares of £1.00 each
10
10



14.


Related party transactions

During the year the company paid rent of £18,420 (2023 - £18,420) to a director.
Included within other debtors is an amount of £232,718 (2023 - £330,338) owed by a director. Interest was charged at the official rate of interest.
 


15.


Controlling party

The company's ultimate parent undertaking at the balance sheet date was Skyview (Holdings) Limited, a company incorporated in England and Wales.
The company is under the control of Mr N I G Hart who is a director of Skyview (Holdings) Limited.

 
Page 12