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COMPANY REGISTRATION NUMBER: 12538580
Skyline (Yorkshire) Limited
Filleted Unaudited Financial Statements
Year ended
31 March 2024
Skyline (Yorkshire) Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Skyline (Yorkshire) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
16,462
11,896
Current assets
Debtors
6
983
9,354
Cash at bank and in hand
13,549
10,627
--------
--------
14,532
19,981
Creditors: amounts falling due within one year
7
23,013
20,050
--------
--------
Net current liabilities
8,481
69
--------
--------
Total assets less current liabilities
7,981
11,827
Provisions
3,128
2,260
-------
--------
Net assets
4,853
9,567
-------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
4,852
9,566
-------
-------
Shareholders funds
4,853
9,567
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Skyline (Yorkshire) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
Mr L Stoyles
Director
Company registration number: 12538580
Skyline (Yorkshire) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Bungalow Road, Selby, North Yorkshire, YO8 5AW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Revenue is recognised on completion of the work undertaken. (d) Current & deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. (e) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. (f) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20% straight line
Motor vehicles - 20% straight line
(g) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h) 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
1,000
13,870
14,870
Additions
1,925
7,500
9,425
-------
--------
--------
At 31 March 2024
2,925
21,370
24,295
-------
--------
--------
Depreciation
At 1 April 2023
200
2,774
2,974
Charge for the year
585
4,274
4,859
-------
--------
--------
At 31 March 2024
785
7,048
7,833
-------
--------
--------
Carrying amount
At 31 March 2024
2,140
14,322
16,462
-------
--------
--------
At 31 March 2023
800
11,096
11,896
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
7,363
Other debtors
983
1,991
----
-------
983
9,354
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,025
1,001
Corporation tax
2,356
5,688
Social security and other taxes
356
Other creditors
19,276
13,361
--------
--------
23,013
20,050
--------
--------
8. Related party transactions
The director and shareholder had loan accounts with the company during the period. The balance due to the director at 31 March 2024 was £ 19,276 (2023 was £13,361.)