0 2 Skyglass Developments Limited 08798260 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true 08798260 2023-04-01 2024-03-31 08798260 2024-03-31 08798260 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-03-31 08798260 core:CurrentFinancialInstruments 2024-03-31 08798260 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08798260 core:Non-currentFinancialInstruments 2024-03-31 08798260 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08798260 core:CostValuation 2024-03-31 08798260 core:DisposalsDecreaseInInvestments 2024-03-31 08798260 core:OfficeEquipment 2024-03-31 08798260 bus:SmallEntities 2023-04-01 2024-03-31 08798260 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08798260 bus:FilletedAccounts 2023-04-01 2024-03-31 08798260 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08798260 bus:RegisteredOffice 2023-04-01 2024-03-31 08798260 bus:Director1 2023-04-01 2024-03-31 08798260 bus:Director2 2023-04-01 2024-03-31 08798260 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-04-01 2024-03-31 08798260 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08798260 bus:Agent1 2023-04-01 2024-03-31 08798260 core:JointVenture1 2023-04-01 2024-03-31 08798260 core:JointVenture1 countries:AllCountries 2023-04-01 2024-03-31 08798260 core:OfficeEquipment 2023-04-01 2024-03-31 08798260 countries:EnglandWales 2023-04-01 2024-03-31 08798260 2023-03-31 08798260 core:CostValuation 2023-03-31 08798260 core:OfficeEquipment 2023-03-31 08798260 2022-04-01 2023-03-31 08798260 2023-03-31 08798260 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-03-31 08798260 core:CurrentFinancialInstruments 2023-03-31 08798260 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08798260 core:Non-currentFinancialInstruments 2023-03-31 08798260 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08798260 core:OfficeEquipment 2023-03-31 08798260 core:JointVenture1 2022-04-01 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08798260

Skyglass Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Skyglass Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Skyglass Developments Limited

Company Information

Directors

D Hall

J Hall

Registered office

40B Heronsgate Rd
Chorleywood
Hertfordshire
WD3 5BL

Accountants

Smart Accounting & Tax Solutions LLP 74A Station Road East
Oxted
Surrey
RH8 0PG

 

Skyglass Developments Limited

(Registration number: 08798260)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

95

188

Investments

4

247,270

481,361

 

247,365

481,549

Current assets

 

Debtors

5

3,946

3,946

Cash at bank and in hand

 

85

8,268

 

4,031

12,214

Creditors: Amounts falling due within one year

6

(103,084)

(445,774)

Net current liabilities

 

(99,053)

(433,560)

Total assets less current liabilities

 

148,312

47,989

Creditors: Amounts falling due after more than one year

6

(330,526)

(335,069)

Net liabilities

 

(182,214)

(287,080)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(182,314)

(287,180)

Shareholders' deficit

 

(182,214)

(287,080)

 

Skyglass Developments Limited

(Registration number: 08798260)
Balance Sheet as at 31 March 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
D Hall
Director

 

Skyglass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
40B Heronsgate Rd
Chorleywood
Hertfordshire
WD3 5BL

These financial statements were authorised for issue by the Board on 17 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises Corporation Tax, based on the Company's taxable profit and chargeable gains. Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Skyglass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Skyglass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Skyglass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

2,677

2,677

At 31 March 2024

2,677

2,677

Depreciation

At 1 April 2023

2,489

2,489

Charge for the year

93

93

At 31 March 2024

2,582

2,582

Carrying amount

At 31 March 2024

95

95

At 31 March 2023

188

188

4

Investments

2024
£

2023
£

Investments in joint ventures

247,270

481,361

Joint ventures

£

Cost

At 1 April 2023

481,361

Disposals

(234,091)

At 31 March 2024

247,270

Provision

Carrying amount

At 31 March 2024

247,270

At 31 March 2023

481,361

 

Skyglass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Joint ventures

ACD Partners LLP

1st Floor Healthaid House, Marlborough Hill, Harrow, Middlesex, HA1 1UD

50%

50%

England & Wales

Joint ventures

ACD Partners LLP

The principal activity of ACD Partners LLP is residential property development.

5

Debtors

Current

2024
£

2023
£

Other debtors

3,946

3,946

 

3,946

3,946

 

Skyglass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

3,575

1,470

Other creditors

99,509

444,304

103,084

445,774

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

330,526

335,069

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

30,526

35,069

Other borrowings

300,000

300,000

330,526

335,069