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REGISTERED NUMBER: 11275169 (England and Wales)















SKYRAKER LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SKYRAKER LTD (REGISTERED NUMBER: 11275169)






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


SKYRAKER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs S Upton
Mr D M Upton





SECRETARY: Mr D M Upton





REGISTERED OFFICE: 15 High Street
Brackley
Northamptonshire
NN13 7DH





REGISTERED NUMBER: 11275169 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

SKYRAKER LTD (REGISTERED NUMBER: 11275169)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,635 3,566
Investment property 5 15,532,770 15,532,770
15,535,405 15,536,336

CURRENT ASSETS
Debtors 6 7,095 9,814
Cash at bank 49,885 27,921
56,980 37,735
CREDITORS
Amounts falling due within one year 7 25,032 26,498
NET CURRENT ASSETS 31,948 11,237
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,567,353

15,547,573

CREDITORS
Amounts falling due after more than one
year

8

(6,502,325

)

(6,482,309

)

PROVISIONS FOR LIABILITIES 10 (451,995 ) (446,027 )
NET ASSETS 8,613,033 8,619,237

CAPITAL AND RESERVES
Called up share capital 11 100 100
Merger relief reserve 5,923,150 5,923,150
Revaluation reserve 2,260,000 2,260,000
Retained earnings 429,783 435,987
SHAREHOLDERS' FUNDS 8,613,033 8,619,237

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.

SKYRAKER LTD (REGISTERED NUMBER: 11275169)

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 25 November 2024 and were signed on its behalf by:




Mr D M Upton - Director



Mrs S Upton - Director


SKYRAKER LTD (REGISTERED NUMBER: 11275169)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Skyraker Ltd 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1 sterling .

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from rentals is recognised in the financial statements based on the rental periods occupied by tenants.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment - 33% straight line basis
Fixtures and fittings - 20% reducing balance

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.


SKYRAKER LTD (REGISTERED NUMBER: 11275169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred taxation
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 8,105 3,725 11,830
Additions - 569 569
At 31 March 2024 8,105 4,294 12,399
DEPRECIATION
At 1 April 2023 5,409 2,855 8,264
Charge for year 539 961 1,500
At 31 March 2024 5,948 3,816 9,764
NET BOOK VALUE
At 31 March 2024 2,157 478 2,635
At 31 March 2023 2,696 870 3,566

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 15,532,770
NET BOOK VALUE
At 31 March 2024 15,532,770
At 31 March 2023 15,532,770

SKYRAKER LTD (REGISTERED NUMBER: 11275169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 15,532,770

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 2,274
Prepayments and accrued income 7,095 7,540
7,095 9,814

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 2,998 -
Directors' current accounts 3,418 5,158
Accruals and deferred income 18,616 21,340
25,032 26,498

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Mortgages 6,502,325 6,482,309

9. SECURED DEBTS

Date Description
17/10/18 Paragon Bank floating charge over all the property or undertaking of the company
17/09/18 Paragon Bank fixed charge on 132 Bankside, Banbury
17/09/18 Paragon Bank fixed charge on 48 Bedford Street, Leamington Spa
17/09/18 Paragon Bank fixed charge on Flats 1-9, Whites Row, Kenilworth
17/09/18 Paragon Bank fixed charge on 7A Milverton Terrace, Leamington Spa
17/09/18 Paragon Bank fixed charge on Flats 1-5, Milverton Terrace, Leamington Spa
22/09/22 Paragon bank fixed charge on Reynard House, Adderbury, OX17 3EL
21/10/22 Paragon bank fixed charge on 47 Portland Street, Leamington Spa, CV32 5EY
21/10/22 Paragon bank fixed charge on 27 Warwick Place, Leamington Spa, CV32 5BS

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances (5 ) 62
Tax losses carried forward - (6,035 )
Other timing differences 452,000 452,000
451,995 446,027

SKYRAKER LTD (REGISTERED NUMBER: 11275169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 446,027
Accelerated capital allowances (67 )
Investment revaluations
Tax losses carried forward 6,035
Balance at 31 March 2024 451,995

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. REVALUATION

A valuation of the Investment properties held by the company was carried out by the company banker on 16 August 2022 which increased the value of the Investment properties held by £2,260,000 to £15,532,770. The directors were in agreement with the valuation.