Company Registration No. 05457824 (England and Wales)
BLUE SKY BOTANICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
BLUE SKY BOTANICS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
965,946
1,262,625
Current assets
Stocks
350,322
335,779
Debtors
6
1,851,968
1,437,376
Cash at bank and in hand
799,483
1,122,366
3,001,773
2,895,521
Creditors: amounts falling due within one year
8
(732,567)
(685,520)
Net current assets
2,269,206
2,210,001
Total assets less current liabilities
3,235,152
3,472,626
Creditors: amounts falling due after more than one year
7
-
0
(75,431)
Provisions for liabilities
(195,360)
(194,612)
Net assets
3,039,792
3,202,583
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
3,039,692
3,202,483
Total equity
3,039,792
3,202,583
BLUE SKY BOTANICS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

 

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 April 2025 and are signed on its behalf by:
Ms C Brevitt
Director
Company registration number 05457824 (England and Wales)
BLUE SKY BOTANICS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
31 August 2024
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Blue Sky Botanics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Castle Farm, Upton Bishop, Ross on Wye, Herefordshire, HR9 7UW.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold
25% Reducing Balance
Plant and machinery
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

BLUE SKY BOTANICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

2.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

2.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

2.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

BLUE SKY BOTANICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
2
Accounting policies
(Continued)
- 5 -
2.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.12
Government grants

Government grants relate to Covid 19.

2.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

BLUE SKY BOTANICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
51
60
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
132,889
60,185
Adjustments in respect of prior periods
(668)
(40,624)
Total current tax
132,221
19,561
Deferred tax
Origination and reversal of timing differences
748
(61,339)
Total tax charge/(credit)
132,969
(41,778)
5
Tangible fixed assets
Land and buildings leasehold
Plant and machinery
Total
£
£
£
Cost
At 1 September 2023
412,524
2,649,308
3,061,832
Additions
1,350
23,326
24,676
At 31 August 2024
413,874
2,672,634
3,086,508
Depreciation and impairment
At 1 September 2023
240,126
1,559,079
1,799,205
Depreciation charged in the year
43,325
278,032
321,357
At 31 August 2024
283,451
1,837,111
2,120,562
Carrying amount
At 31 August 2024
130,423
835,523
965,946
At 31 August 2023
172,397
1,090,228
1,262,625
BLUE SKY BOTANICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
724,397
763,172
Amounts owed by group undertakings
1,059,259
573,502
Other debtors
15,519
21,511
Prepayments and accrued income
52,793
79,191
1,851,968
1,437,376
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
-
0
75,431
8
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Obligations under finance leases
75,431
86,525
Trade creditors
160,361
202,642
Corporation tax
132,889
60,185
Other taxation and social security
114,221
95,973
Accruals and deferred income
249,665
240,195
732,567
685,520
9
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
ACAs
195,360
194,612
There were no deferred tax movements in the year.

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

BLUE SKY BOTANICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
66
66
66
66
Ordinary B shares of £1 each
10
10
10
10
Ordinary C shares of £1 each
15
15
15
15
Ordinary D shares of £1 each
5
5
5
5
Ordinary E shares of £1 each
2
2
2
2
Ordinary F shares of £1 each
2
2
2
2
100
100
100
100
11
Financial commitments, guarantees and contingent liabilities

Rent of £55,000 is payable annually to J & E Lambe on a rolling contract basis.

2024-08-312023-09-01falsefalsefalse11 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMs C BrevittMrs E LambeMrs E Pritchard054578242023-09-012024-08-31054578242024-08-31054578242023-08-3105457824core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-08-3105457824core:PlantMachinery2024-08-3105457824core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-08-3105457824core:PlantMachinery2023-08-3105457824core:CurrentFinancialInstrumentscore:WithinOneYear2024-08-3105457824core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3105457824core:Non-currentFinancialInstrumentscore:AfterOneYear2024-08-3105457824core:Non-currentFinancialInstrumentscore:AfterOneYear2023-08-3105457824core:CurrentFinancialInstruments2024-08-3105457824core:CurrentFinancialInstruments2023-08-3105457824core:ShareCapital2024-08-3105457824core:ShareCapital2023-08-3105457824core:RetainedEarningsAccumulatedLosses2024-08-3105457824core:RetainedEarningsAccumulatedLosses2023-08-3105457824core:ShareCapitalOrdinaryShareClass12024-08-3105457824core:ShareCapitalOrdinaryShareClass12023-08-3105457824core:ShareCapitalOrdinaryShareClass22024-08-3105457824core:ShareCapitalOrdinaryShareClass22023-08-3105457824core:ShareCapitalOrdinaryShareClass32024-08-3105457824core:ShareCapitalOrdinaryShareClass32023-08-3105457824core:ShareCapitalOrdinaryShareClass42024-08-3105457824core:ShareCapitalOrdinaryShareClass42023-08-3105457824core:ShareCapitalOrdinaryShareClass52024-08-3105457824core:ShareCapitalOrdinaryShareClass52023-08-3105457824core:ShareCapitalOrdinaryShares2024-08-3105457824core:ShareCapitalOrdinaryShares2023-08-3105457824bus:Director12023-09-012024-08-31054578242022-09-012023-08-3105457824core:UKTax2023-09-012024-08-3105457824core:UKTax2022-09-012023-08-3105457824core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-08-3105457824core:PlantMachinery2023-08-31054578242023-08-3105457824core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-09-012024-08-3105457824core:PlantMachinery2023-09-012024-08-3105457824core:Non-currentFinancialInstruments2024-08-3105457824core:Non-currentFinancialInstruments2023-08-3105457824bus:OrdinaryShareClass12023-09-012024-08-3105457824bus:OrdinaryShareClass22023-09-012024-08-3105457824bus:OrdinaryShareClass32023-09-012024-08-3105457824bus:OrdinaryShareClass52023-09-012024-08-3105457824bus:OrdinaryShareClass42023-09-012024-08-3105457824bus:OrdinaryShareClass12024-08-3105457824bus:OrdinaryShareClass12023-08-3105457824bus:OrdinaryShareClass22024-08-3105457824bus:OrdinaryShareClass22023-08-3105457824bus:OrdinaryShareClass32024-08-3105457824bus:OrdinaryShareClass32023-08-3105457824bus:OrdinaryShareClass42024-08-3105457824bus:OrdinaryShareClass42023-08-3105457824bus:OrdinaryShareClass52024-08-3105457824bus:OrdinaryShareClass52023-08-3105457824bus:AllOrdinaryShares2024-08-3105457824bus:AllOrdinaryShares2023-08-3105457824bus:PrivateLimitedCompanyLtd2023-09-012024-08-3105457824bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3105457824bus:FRS1022023-09-012024-08-3105457824bus:AuditExemptWithAccountantsReport2023-09-012024-08-3105457824bus:Director22023-09-012024-08-3105457824bus:Director32023-09-012024-08-3105457824bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP