Registered number
SC709187
Skye Life Ltd
Filleted Accounts
30 September 2024
Skye Life Ltd
Registered number: SC709187
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 25,101 14,471
Current assets
Cash at bank and in hand 43,817 37,019
Creditors: amounts falling due within one year 4 (7,905) (4,767)
Net current assets 35,912 32,252
Total assets less current liabilities 61,013 46,723
Creditors: amounts falling due after more than one year 5 (8,668) (28,151)
Net assets 52,345 18,572
Capital and reserves
Called up share capital 100 100
Profit and loss account 52,245 18,472
Shareholders' funds 52,345 18,572
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W Scott
Director
Approved by the board on 18 March 2025
Skye Life Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% by Reducing Balance method
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 6,915 8,341 - 15,256
Additions - - 15,750 15,750
At 30 September 2024 6,915 8,341 15,750 31,006
Depreciation
At 1 October 2023 - 785 - 785
Charge for the year - 1,511 3,609 5,120
At 30 September 2024 - 2,296 3,609 5,905
Net book value
At 30 September 2024 6,915 6,045 12,141 25,101
At 30 September 2023 6,915 7,556 - 14,471
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 7,305 3,537
Other creditors 600 1,230
7,905 4,767
5 Creditors: amounts falling due after one year 2024 2023
£ £
Director's account 8,668 28,151
6 Other information
Skye Life Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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