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REGISTERED NUMBER: 10061858 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

SKB2016 LIMITED

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKB2016 LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S J Brown
K Brown





REGISTERED OFFICE: Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ





REGISTERED NUMBER: 10061858 (England and Wales)





ACCOUNTANTS: Rawse, Varley & Co
Chartered Accountants
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 507
Investment property 5 - 580,000
- 580,507

CURRENT ASSETS
Debtors 6 115,692 3,707
Investments 7 6,792,579 6,060,150
Cash at bank 301,126 978,459
7,209,397 7,042,316
CREDITORS
Amounts falling due within one year 8 4,894,142 6,065,802
NET CURRENT ASSETS 2,315,255 976,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,315,255

1,557,021

PROVISIONS FOR LIABILITIES 10 310,334 133,189
NET ASSETS 2,004,921 1,423,832

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 12 2,003,921 1,422,832
SHAREHOLDERS' FUNDS 2,004,921 1,423,832

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





S J Brown - Director


SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

SKB2016 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Schedule 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and the Republic of Ireland" and the Companies Act 2006.The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment income
Investment income comprises dividends and interest on current asset investments, together with profits less losses on disposal of current asset investments and rent receivable. Dividends are accounted for when due and interest and rent are accounted for on the accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and equipment 20% of cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investments
Investments are stated at fair value. In the case of investments traded on a recognised stock exchange fair value is determined by reference to quoted bid prices. Unquoted investments are valued by the directors by reference to all available evidence including recent transactions, events and company statements relating to the investments concerned.

Changes in the valuation of investments are taken to profit and loss in the income statement.

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Furniture
and
equipment
£   
COST
At 1 April 2023 10,151
Disposals (10,151 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 9,644
Charge for year 507
Eliminated on disposal (10,151 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 507

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 580,000
Disposals (580,000 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 580,000


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 115,248 490
Tax 433 433
Prepayments 11 2,784
115,692 3,707

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CURRENT ASSET INVESTMENTS

Investments are stated at fair value and comprise:

2024 2023
£ £
Listed investments 1,160,848 1,387,368
Investment funds 5,631,731 4,672,782
6,792,579 6,060,150
If investments had not been re-stated to fair value they would be stated at cost of £5,592,657 (2023 - £6,252,765).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 9) 4,870,742 4,760,742
Other creditors - 1,278,375
Accrued expenses 23,400 26,685
4,894,142 6,065,802

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Loan from S J Brown 2,425,371 2,375,371
Loan from K Brown 2,425,371 2,375,371
Loan from SB Trustees 10,000 5,000
Loan from KB Trustees 10,000 5,000
4,870,742 4,760,742

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 310,334 133,189

Deferred
tax
£   
Balance at 1 April 2023 133,189
Charge to Income Statement during year 177,145
Balance at 31 March 2024 310,334

SKB2016 LIMITED (REGISTERED NUMBER: 10061858)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
600 A shares £1 600 600
400 B shares £1 400 400
1,000 1,000

12. RESERVES
Retained
earnings
£   

At 1 April 2023 1,422,832
Profit for the year 601,089
Dividends (20,000 )
At 31 March 2024 2,003,921

13. SECURITY

Cash and securities held are subject to a fixed charge in favour of UBS AG. There were no amounts owing to UBS AG at 31 March 2024 (2023 - £1,296.775).