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REGISTERED NUMBER: 11905848 (England and Wales)



















SKYRA PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SKYRA PROPERTIES LIMITED (REGISTERED NUMBER: 11905848)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


SKYRA PROPERTIES LIMITED (REGISTERED NUMBER: 11905848)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,560 2,126
Investment property 5 1,135,000 1,135,000
1,136,560 1,137,126

CURRENT ASSETS
Debtors 6 2,059 2,250
Cash at bank 1,509 2,139
3,568 4,389
CREDITORS
Amounts falling due within one year 7 400,648 342,573
NET CURRENT LIABILITIES (397,080 ) (338,184 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

739,480

798,942

CREDITORS
Amounts falling due after more than one year 8 (677,599 ) (691,672 )

PROVISIONS FOR LIABILITIES (15,493 ) (23,737 )
NET ASSETS 46,388 83,533

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 132,448 80,793
Retained earnings (86,160 ) 2,640
SHAREHOLDERS' FUNDS 46,388 83,533

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

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

SKYRA PROPERTIES LIMITED (REGISTERED NUMBER: 11905848)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





Mrs S E Chungtakman - Director


SKYRA PROPERTIES LIMITED (REGISTERED NUMBER: 11905848)

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

1. STATUTORY INFORMATION

Skyra Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11905848

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of rental income 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.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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.

SKYRA PROPERTIES LIMITED (REGISTERED NUMBER: 11905848)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 ) .

SKYRA PROPERTIES LIMITED (REGISTERED NUMBER: 11905848)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 2,800 449 3,249
DEPRECIATION
At 1 April 2023 679 444 1,123
Charge for year 561 5 566
At 31 March 2024 1,240 449 1,689
NET BOOK VALUE
At 31 March 2024 1,560 - 1,560
At 31 March 2023 2,121 5 2,126

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,135,000
NET BOOK VALUE
At 31 March 2024 1,135,000
At 31 March 2023 1,135,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 80,793
Valuation in 2023 60,000
Cost 994,207
1,135,000

Investment properties were valued on an open market basis on 31 March 2024 by the directors .

Investment property has been pledged as security for borrowings.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,059 2,250

SKYRA PROPERTIES LIMITED (REGISTERED NUMBER: 11905848)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,571 -
Other creditors 399,077 342,573
400,648 342,573

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 677,599 691,672

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 677,599 691,672

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 677,599 691,672

Bank loans are secured by way of a fixed charge over the investment property of the company. The directors have provided a personal guarantee over the mortgage of 11 Endersleigh Gardens.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023 80,793
Transfer to fair value reserve 51,655

At 31 March 2024 132,448

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2023 - £10,000) were paid to the directors.

At the balance sheet date, the directors were owed £381,202 (2023: £336,949).