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REGISTERED NUMBER: 01904594 (England and Wales)

















Skytime Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






Skytime Limited (Registered number: 01904594)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Skytime Limited

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr P Read
Mr D Read
Mr M Read
Mrs S J Agar
Mrs S V Read





REGISTERED OFFICE: Beck Garth
Humbleton
East Yorkshire
HU11 4NL





REGISTERED NUMBER: 01904594 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Skytime Limited (Registered number: 01904594)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 5 7,391 30,780
Debtors 6 3,360 1,970
Cash at bank 229,395 211,288
240,146 244,038
CREDITORS
Amounts falling due within one year 7 237,588 234,722
NET CURRENT ASSETS 2,558 9,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,558

9,316

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,458 9,216
SHAREHOLDERS' FUNDS 2,558 9,316

Skytime Limited (Registered number: 01904594)

BALANCE SHEET - continued
30 April 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





Mr P Read - Director


Skytime Limited (Registered number: 01904594)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Skytime 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 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.
Short leasehold - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Skytime Limited (Registered number: 01904594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 7,963 474 34,819 43,256
DEPRECIATION
At 1 May 2023
and 30 April 2024 7,963 474 34,819 43,256
NET BOOK VALUE
At 30 April 2024 - - - -
At 30 April 2023 - - - -

5. STOCKS
2024 2023
£    £   
Stocks 7,391 30,780

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 3,360 1,970

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 231,590 231,590
Tax - 140
VAT 3,354 306
Accruals 2,644 2,686
237,588 234,722

8. ULTIMATE CONTROLLING PARTY

The parent undertaking of the group of undertakings of which the company is a member is the Read Family Group Limited, a company registered in England & Wales. The Read Family Group Limited is the company's ultimate parent company which is controlled by the directors.