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REGISTERED NUMBER: 14134848 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Skylimit Properties Ltd

Skylimit Properties Ltd (Registered number: 14134848)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Skylimit Properties Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: I Jowett
D Skenderaj





REGISTERED OFFICE: 18 St Christopher's Way
Pride Park
Derby
Derbyshire
DE24 8JY





REGISTERED NUMBER: 14134848 (England and Wales)





ACCOUNTANTS: Franklins
18 St Christopher's Way
Pride Park
Derby
Derbyshire
DE24 8JY

Skylimit Properties Ltd (Registered number: 14134848)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 205,151 448,033

CURRENT ASSETS
Debtors 5 396,138 675
Cash at bank 36,314 73,577
432,452 74,252
CREDITORS
Amounts falling due within one year 6 460,887 507,050
NET CURRENT LIABILITIES (28,435 ) (432,798 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,716

15,235

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 176,616 15,135
SHAREHOLDERS' FUNDS 176,716 15,235

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 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 26 February 2025 and were signed on its behalf by:



I Jowett - Director



D Skenderaj - Director


Skylimit Properties Ltd (Registered number: 14134848)

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

1. STATUTORY INFORMATION

Skylimit Properties 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 represents rents receivable from investment properties excluding discounts, rebates, value added tax and other sales taxes.

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 2 (2023 - 2 ) .

Skylimit Properties Ltd (Registered number: 14134848)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 448,033
Additions 365,951
Disposals (608,833 )
At 31 May 2024 205,151
NET BOOK VALUE
At 31 May 2024 205,151
At 31 May 2023 448,033

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 394,092 -
VAT - 675
Prepayments and accrued income 2,046 -
396,138 675

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (4,368 ) (3,357 )
Tax 22,981 -
VAT 30,774 -
Other creditors 409,500 508,407
Accruals and deferred income 2,000 2,000
460,887 507,050

7. CALLED UP SHARE CAPITAL

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

8. RELATED PARTY DISCLOSURES

At the year end a balance existed with a company under the common control of Mr Ian Jowett, a company in which he is also a director.

The balance owed from the company to Skylimit Properties Limited at the year end amounted to £394,092 Dr (2023: £252,407 Cr).

At the year end a balance existed with a company under the common control of Mr Dritan Skenderaj, a company in which he is also a director.

The balance owed to the company from Skylimit Properties Limited at the year end amounted to £409,500 Cr (2023: £256,000 Cr).