Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false22023-07-01No description of principal activity1falsetruefalse 06705431 2023-07-01 2024-06-30 06705431 2022-03-01 2023-06-30 06705431 2024-06-30 06705431 2023-06-30 06705431 c:Director2 2023-07-01 2024-06-30 06705431 d:CurrentFinancialInstruments 2024-06-30 06705431 d:CurrentFinancialInstruments 2023-06-30 06705431 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06705431 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06705431 d:ShareCapital 2024-06-30 06705431 d:ShareCapital 2023-06-30 06705431 d:RetainedEarningsAccumulatedLosses 2024-06-30 06705431 d:RetainedEarningsAccumulatedLosses 2023-06-30 06705431 c:OrdinaryShareClass1 2023-07-01 2024-06-30 06705431 c:OrdinaryShareClass1 2024-06-30 06705431 c:OrdinaryShareClass1 2023-06-30 06705431 c:FRS102 2023-07-01 2024-06-30 06705431 c:Audited 2023-07-01 2024-06-30 06705431 c:FullAccounts 2023-07-01 2024-06-30 06705431 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06705431 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06705431 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06705431









SKYCIRCUITS LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
SKYCIRCUITS LTD
REGISTERED NUMBER: 06705431

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
-
18,532

Debtors: amounts falling due within one year
  
689
1,354

Cash at bank and in hand
  
35,278
54,037

  
35,967
73,923

Creditors: amounts falling due within one year
  
(6,134)
(9,560)

Net current assets
  
 
 
29,833
 
 
64,363

Total assets less current liabilities
  
29,833
64,363

  

Net assets
  
29,833
64,363


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
29,823
64,353

  
29,833
64,363


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Barratt
Director

Date: 27 March 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
SKYCIRCUITS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by share capital and incorporated in England and Wales.  Its registered office is 9 The Old Barns, Manor Farm, Chilmark, Salisbury, Wiltshure, SP3 5AF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors of the Company expect there to be a reduction in trading activity in the following Financial period. Despite this, there is sufficient cash in the bank to cover the Company’s obligations for the next 12 months. The Directors of the Company intend to keep the Company open for strategic reasons.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
SKYCIRCUITS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.9

Comparative information

The previous financial period covered 16 months to 30 June 2023 and the current period covers the 12 months to 30 June 2024. Therefore the prior period is not entirely comparable.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

Page 3

 
SKYCIRCUITS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Stocks




The carrying value of stocks are stated net of impairment losses totalling £nil (2023 - £18,532). Impairment losses totalling £18,532 (2023 - £nil) were recognised in profit and loss.


5.


Debtors

2024
2023
£
£


Other debtors
327
992

Prepayments and accrued income
362
362

689
1,354



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
1,245
4,800

Other creditors
129
-

Accruals and deferred income
4,760
4,760

6,134
9,560



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) Ordinary shares shares of £1 each
10
10



8.


Related party transactions

The company has taken exemption under Section 33.1A of FRS 102 from disclosing related party transactions between two or more 100% members of the same group.

Page 4

 
SKYCIRCUITS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Controlling party

The company's immediate parent is Callen-Lenz Associates Limited.
The ultimate parent is BAE Systems PLC, which is incorporated in the United Kingdom and registered in England and Wales.  The consolidated financial statements of BAE Sytems PLC are available to the public and may be obtained from 6 Carlton Gardens, London, SW1Y 5AD.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 27 March 2025 by Mr P A Cattermole (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

Page 5