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REGISTERED NUMBER: 10809183 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Skyforge Electrical Solutions Ltd

Skyforge Electrical Solutions Ltd (Registered number: 10809183)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Skyforge Electrical Solutions Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: D Murray





REGISTERED OFFICE: 18 Avondale Road
Waterlooville
Hampshire
P07 7ST





REGISTERED NUMBER: 10809183 (England and Wales)





ACCOUNTANTS: Cove Accountancy Services Limited
79 Southgate Drive
Crawley
West Sussex
RH10 6EP

Skyforge Electrical Solutions Ltd (Registered number: 10809183)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,181 26,228

CURRENT ASSETS
Stocks 22,790 10,800
Debtors 5 94,017 42,283
Cash at bank 23,136 61,592
139,943 114,675
CREDITORS
Amounts falling due within one year 6 105,912 66,922
NET CURRENT ASSETS 34,031 47,753
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,212

73,981

PROVISIONS FOR LIABILITIES 9,535 4,984
NET ASSETS 74,677 68,997

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 74,577 68,897
74,677 68,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Skyforge Electrical Solutions Ltd (Registered number: 10809183)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 December 2024 and were signed by:





D Murray - Director


Skyforge Electrical Solutions Ltd (Registered number: 10809183)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Skyforge Electrical Solutions 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Skyforge Electrical Solutions Ltd (Registered number: 10809183)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 2,932 183 52,585 5,101 60,801
Additions - - 54,905 - 54,905
Disposals - - (18,185 ) - (18,185 )
At 30 June 2024 2,932 183 89,305 5,101 97,521
DEPRECIATION
At 1 July 2023 1,529 108 29,086 3,850 34,573
Charge for year 516 18 16,191 588 17,313
Eliminated on disposal - - (4,546 ) - (4,546 )
At 30 June 2024 2,045 126 40,731 4,438 47,340
NET BOOK VALUE
At 30 June 2024 887 57 48,574 663 50,181
At 30 June 2023 1,403 75 23,499 1,251 26,228

Skyforge Electrical Solutions Ltd (Registered number: 10809183)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 84,182 38,573
Other debtors 9,835 3,710
94,017 42,283

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 1,575
Trade creditors 57,125 31,650
Taxation and social security 47,270 32,725
Other creditors 1,517 972
105,912 66,922

7. RELATED PARTY DISCLOSURES

At the end of the period the company owed Mr D Murray, a director, £1,268 (2023: £722).

8. ULTIMATE CONTROLLING PARTY

Mr D Murray, the director, controls the company as a result of controlling directly and indirectly 100% of the issued share capital.