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REGISTERED NUMBER: 03566475 (England and Wales)















SKYLARK DEVELOPMENTS LIMITED

Unaudited Financial Statements for the Year Ended 31 May 2024






SKYLARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03566475)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

SKYLARK DEVELOPMENTS LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTOR: PD Kennedy





REGISTERED OFFICE: 715 Chester Road
Erdington
Birmingham
West Midlands
B24 0BY





REGISTERED NUMBER: 03566475 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

SKYLARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03566475)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,115,000 1,115,000

CURRENT ASSETS
Debtors 5 248,328 188,444
Cash at bank and in hand 9,640 30,358
257,968 218,802
CREDITORS
Amounts falling due within one year 6 128,452 85,427
NET CURRENT ASSETS 129,516 133,375
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,244,516

1,248,375

CREDITORS
Amounts falling due after more than one
year

7

(261,055

)

(274,702

)

PROVISIONS FOR LIABILITIES (80,929 ) (80,929 )
NET ASSETS 902,532 892,744

CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Non distributable earnings 605,222 605,222
Retained earnings 267,310 257,522
SHAREHOLDERS' FUNDS 902,532 892,744

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SKYLARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03566475)

Balance Sheet - continued
31 May 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 director and authorised for issue on 12 February 2025 and were signed by:





P D Kennedy - Director


SKYLARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03566475)

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


1. STATUTORY INFORMATION

Skylark Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

SKYLARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03566475)

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


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,115,000
NET BOOK VALUE
At 31 May 2024 1,115,000
At 31 May 2023 1,115,000

The investment properties were revalued by the director at open market value on 10 February 2025.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 21,326 36,534
Other debtors 227,002 151,910
248,328 188,444

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 12,878 12,066
Taxation and social security 77,625 39,764
Other creditors 37,949 33,597
128,452 85,427

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 261,055 274,702

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 273,933 286,768

The bank loans are secured by fixed and floating charge over the undertaking and all property and assets of the company.

SKYLARK DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03566475)

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


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
30,000 Ordinary £1 30,000 30,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The directors loan account was overdrawn at the year end by £171,465 (2023 - £125,974).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Skylark Developments Holdings Limited.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Skylark Developments Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Skylark Developments Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Skylark Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Skylark Developments Limited and state those matters that we have agreed to state to the director of Skylark Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skylark Developments Limited and its director for our work or for this report.

It is your duty to ensure that Skylark Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Skylark Developments Limited. You consider that Skylark Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Skylark Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


12 February 2025