1 1 Skibank Limited 07031860 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of property investments and rental Digita Accounts Production Advanced 6.30.9574.0 true true 07031860 2023-10-01 2024-09-30 07031860 2024-09-30 07031860 bus:OrdinaryShareClass1 2024-09-30 07031860 core:CurrentFinancialInstruments 2024-09-30 07031860 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 07031860 core:FurnitureFittingsToolsEquipment 2024-09-30 07031860 core:LandBuildings 2024-09-30 07031860 bus:SmallEntities 2023-10-01 2024-09-30 07031860 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07031860 bus:FilletedAccounts 2023-10-01 2024-09-30 07031860 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07031860 bus:RegisteredOffice 2023-10-01 2024-09-30 07031860 bus:Director1 2023-10-01 2024-09-30 07031860 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 07031860 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07031860 bus:Agent1 2023-10-01 2024-09-30 07031860 core:FurnitureFittings 2023-10-01 2024-09-30 07031860 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 07031860 core:LandBuildings 2023-10-01 2024-09-30 07031860 countries:AllCountries 2023-10-01 2024-09-30 07031860 2023-09-30 07031860 core:FurnitureFittingsToolsEquipment 2023-09-30 07031860 core:LandBuildings 2023-09-30 07031860 2022-10-01 2023-09-30 07031860 2023-09-30 07031860 bus:OrdinaryShareClass1 2023-09-30 07031860 core:CurrentFinancialInstruments 2023-09-30 07031860 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 07031860 core:FurnitureFittingsToolsEquipment 2023-09-30 07031860 core:LandBuildings 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 07031860

Skibank Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Skibank Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Skibank Limited

Company Information
__________________________________________________________________________

Director

N D G Sessions

Registered office

Abbey House
342 Regents Park Road
N3 2LJ


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Skibank Limited

(Registration number: 07031860)
Balance Sheet as at 30 September 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

3

 

334,513

 

334,612

Current assets

   

 

Debtors

4

10,793

 

3,970

 

Cash at bank and in hand

 

79,118

 

355,696

 

 

89,911

 

359,666

 

Creditors: Amounts falling due within one year

5

(380,596)

 

(659,540)

 

Net current liabilities

   

(290,685)

 

(299,874)

Net assets

   

43,828

 

34,738

Capital and reserves

   

 

Called up share capital

6

1

 

1

 

Retained earnings

43,827

 

34,737

 

Shareholders' funds

   

43,828

 

34,738

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 30 April 2025
 

N D G Sessions

Director

 

Skibank Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
__________________________________________________________________________

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

Revenue recognition

Revenue income represents amounts of rental and related services income receivable during the year.

Tax

The current income 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.

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

No depreciation is provided on the company's freehold premises as it is the company's practice to maintain this asset in a continual state of sound repair and to make improvements thereto and accordingly the directors consider that the life of this asset is so long and the residual value so high that it's depreciation is not significant, with immediate write down on any impairment in value.

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

Asset class

Depreciation method and rate

Fixtures and fittings

20% on reducing balance basis

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.

 

Skibank Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

334,117

10,103

344,220

At 30 September 2024

334,117

10,103

344,220

Depreciation

At 1 October 2023

-

9,608

9,608

Charge for the year

-

99

99

At 30 September 2024

-

9,707

9,707

Carrying amount

At 30 September 2024

334,117

396

334,513

At 30 September 2023

334,117

495

334,612

Included within the net book value of land and buildings above is £334,117 (2023 - £334,117) in respect of freehold land and buildings.
 

 

Skibank Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
__________________________________________________________________________

4

Debtors

Current

2024
£

2023
£

Prepayments

2,801

542

Other debtors

7,992

3,428

 

10,793

3,970

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

7,715

6,690

Other creditors

372,881

652,850

380,596

659,540

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1