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REGISTERED NUMBER: 09419630 (England and Wales)















FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

FOR

COVENTRY SKYLINE DEVELOPMENTS LTD

COVENTRY SKYLINE DEVELOPMENTS LTD (REGISTERED NUMBER: 09419630)

CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 August 2023 to 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


COVENTRY SKYLINE DEVELOPMENTS LTD

COMPANY INFORMATION
for the period 1 August 2023 to 31 March 2024







DIRECTORS: R Ledder
N Morjaria
N Morjaria
C Morjaria
S Popat
N H Popat
P Sachdev
R Sodha
K Sodha
D Sodha
A Sodha





REGISTERED OFFICE: 38 Newdigate Road
Coventry
United Kingdom
CV6 5ES





REGISTERED NUMBER: 09419630 (England and Wales)





AUDITORS: Accumen Business Consultancy Limited
Coventry University
Technology Park
Puma Way
Coventry
CV1 2TT

COVENTRY SKYLINE DEVELOPMENTS LTD (REGISTERED NUMBER: 09419630)

STATEMENT OF FINANCIAL POSITION
31 March 2024

31.3.24 31.7.23
Notes £    £   
CURRENT ASSETS
Debtors 4 1,204,300 1,442,448
Cash at bank 536,154 150,981
1,740,454 1,593,429
CREDITORS
Amounts falling due within one year 5 837,204 393,720
NET CURRENT ASSETS 903,250 1,199,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

903,250

1,199,709

CREDITORS
Amounts falling due after more than one year 6 14,505 23,806
NET ASSETS 888,745 1,175,903

CAPITAL AND RESERVES
Called up share capital 8 300 300
Retained earnings 888,445 1,175,603
SHAREHOLDERS' FUNDS 888,745 1,175,903

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 Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





N Morjaria - Director


COVENTRY SKYLINE DEVELOPMENTS LTD (REGISTERED NUMBER: 09419630)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 August 2023 to 31 March 2024


1. STATUTORY INFORMATION

Coventry Skyline Developments 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

There are no judgements (apart from those involving estimations) that management have made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the letting of student accomodation stated net of discounts.

Financial instruments
The company holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortisied cost.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.


COVENTRY SKYLINE DEVELOPMENTS LTD (REGISTERED NUMBER: 09419630)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 August 2023 to 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.7.23
£    £   
Trade debtors 142,554 114,538
Other debtors 1,061,746 1,327,910
1,204,300 1,442,448

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.7.23
£    £   
Bank loans and overdrafts 10,495 9,989
Trade creditors 44,564 63,970
Taxation and social security - 22,783
Other creditors 782,145 296,978
837,204 393,720

COVENTRY SKYLINE DEVELOPMENTS LTD (REGISTERED NUMBER: 09419630)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 August 2023 to 31 March 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The company is in receipt of a Coronavirus business interruption loan. The lender has been provided with a partial guarantee from the UK Government.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.7.23
£    £   
Bank loans 14,505 23,806

The company is in receipt of a Coronavirus business interruption loan. The lender has been provided with a partial guarantee from the UK Government.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.7.23
£    £   
Within one year 1,650,000 1,650,000
Between one and five years 6,600,000 6,600,000
In more than five years 18,750,000 19,850,000
27,000,000 28,100,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.7.23
value: £    £   
300 Ordinary 300 300 300

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tejinder Saran (Senior Statutory Auditor)
for and on behalf of Accumen Business Consultancy Limited

10. OTHER FINANCIAL COMMITMENTS

The company has provided a cross guarantee in respect of bank loans of £21 million advanced to Coventry Parkside Developments LLP by way of a fixed and floating charge over assets held by the company.

COVENTRY SKYLINE DEVELOPMENTS LTD (REGISTERED NUMBER: 09419630)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 August 2023 to 31 March 2024


11. RELATED PARTY DISCLOSURES

The company has a major interest in the property and paid rent amounting to £1,100,000 (2023 - £1,650,000) to Coventry Parkside Developments LLP, a LLP under common ownership.

The total balance owed by related parties who are under common control is £777,953 (2023 - £953,153).