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REGISTERED NUMBER: 11603845 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

SKYLINE BRADFORD LIMITED

SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SKYLINE BRADFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: N K G Monks
M A Reilly





REGISTERED OFFICE: The Mill Building
31-35 Chatsworth Road
Worthing
West Sussex
BN11 1LY





REGISTERED NUMBER: 11603845 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 175,000 175,000

CURRENT ASSETS
Stocks 5 472,769 472,769
Debtors 6 276,217 297,641
Cash at bank 2,950 14,570
751,936 784,980
CREDITORS
Amounts falling due within one year 7 1,346,025 1,464,687
NET CURRENT LIABILITIES (594,089 ) (679,707 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(419,089

)

(504,707

)

CREDITORS
Amounts falling due after more than one
year

8

1,193,696

1,199,251
NET LIABILITIES (1,612,785 ) (1,703,958 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (1,612,787 ) (1,703,960 )
SHAREHOLDERS' FUNDS (1,612,785 ) (1,703,958 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:




N K G Monks - Director



M A Reilly - Director


SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845)

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

1. STATUTORY INFORMATION

Skyline Bradford 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.

As shown by the Balance sheet the company's assets are exceeded by its liabilities. However the company's continued activities are supported by the Buyers and Investors. The Directors therefore consider that, in their opinion it is appropriate for these accounts to be prepared on a going concern basis.

Significant judgements and estimates
The Company is developing a property in Bradford on behalf of initial buyers and or investors and new buyers of the residential flats being developed within the property. Finance for the purchase of the lease and the financing of the development so far has been from the Buyers/Investors. Revenue for the company will be recognised when the development has been completed and the residential units are sold.

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.
Long leasehold - Over the life of the lease

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

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 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 NIL (2023 - NIL).

SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845)

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

4. TANGIBLE FIXED ASSETS
Long
leasehold
£   
COST
At 1 November 2023
and 31 October 2024 175,000
NET BOOK VALUE
At 31 October 2024 175,000
At 31 October 2023 175,000

At the time the valuation mentioned in these notes was carried out changes in UK Legislation were before the Select Committee in Parliament. The valuation given is based on the special assumption that:

The Market Value of the long leasehold interest subject to leasehold apartment sales and on the assumption that all remaining apartments are sold on a similar lease/basis and that the Sub-Committee Report and findings will be enacted into UK law. It also was made on the assumption of a sale by private treaty within a marketing period of 12 months..

5. STOCKS
2024 2023
£    £   
Work-in-progress 472,769 472,769

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 256,167 286,853
VAT 10,902 8,236
Prepayments 9,148 2,552
276,217 297,641

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 64,777 52,013
Money from Buyers 184,230 184,230
Buyer Deposits 94,981 658,006
Amounts owed to group undertakings 576,700 145,835
Other creditors 417,299 417,299
Directors' loan accounts 3 3
Accrued expenses 2,479 1,745
1,346,025 1,464,687

The Purchase of the Long Lease was secured by funds from initial Buyers and Investors. The Company has stepped in to rescue the project which was in danger of collapsing.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 16,667 16,667
Bank loans more 5 yr by instal 3,241 8,796
Other creditors 1,168,232 1,168,232
1,193,696 1,199,251

SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,241 8,796

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mr N Monks maintained his loan to the company. As at 31 October 2024, the company owed him £3 (2023: £3). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr N Monks.

This was by virtue of his holding of the issued share capital.