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Registration number: 10134975

Skyline Plus Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Skyline Plus Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Skyline Plus Ltd

Company Information

Directors

Mr M Hall

Mr PA Lavelle

Registered office

14 Woodward Road
Kirkby
Liverpool
Merseyside
L33 7UZ

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
Liverpool
L3 9GH

 

Skyline Plus Ltd

(Registration number: 10134975)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

2,789,853

2,323,155

Current assets

 

Debtors

5

5,643

117,388

Cash at bank and in hand

 

529,704

125,051

 

535,347

242,439

Creditors: Amounts falling due within one year

6

(2,195,836)

(1,445,764)

Net current liabilities

 

(1,660,489)

(1,203,325)

Total assets less current liabilities

 

1,129,364

1,119,830

Creditors: Amounts falling due after more than one year

6

(450,608)

(532,905)

Net assets

 

678,756

586,925

Capital and reserves

 

Called up share capital

7

4

4

Revaluation reserve

542,570

542,570

Retained earnings

136,182

44,351

Shareholders' funds

 

678,756

586,925

For the financial year ending 31 August 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 20 May 2025 and signed on its behalf by:
 

 

Skyline Plus Ltd

(Registration number: 10134975)
Balance Sheet as at 31 August 2024

.........................................
Mr M Hall
Director

.........................................
Mr PA Lavelle
Director

 

Skyline Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
14 Woodward Road
Kirkby
Liverpool
Merseyside
L33 7UZ

These financial statements were authorised for issue by the Board on 20 May 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.

The financial statemenst are presented in sterling which is the functional currency of the company.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in 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.

 

Skyline Plus Ltd

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

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors . The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

Skyline Plus Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 September

2,323,155

Additions

466,698

At 31 August

2,789,853

At the year end the directors have valued the investment properties held by the company at £2,789,853 (£2,323,155). The valuation is based on market values of similar properties in the surrounding area,

If the investment properties had been accounted for under the historical cost accounting rules, the value would be £2,247,282 (2023: £1,780,585)

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,278

3,971

Prepayments

1,365

-

Other debtors

-

113,417

 

5,643

117,388

 

Skyline Plus Ltd

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

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

2,160,825

1,436,947

Taxation and social security

 

30,611

4,517

Accruals and deferred income

 

2,100

2,000

Other creditors

 

2,300

2,300

 

2,195,836

1,445,764

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

450,608

532,905


Creditors include bank loans not repayable by instalments of £450,608 (2023 - £532,905) due after more than five years, which are secured on the investment properties to which they relate.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Related party transactions

Summary of transactions with parent

Due to common directors and shareholders, Matisview Ltd is the parent company. At the year end there is a balance totalling £2,160,825 (2023: £1,436,947), included in Creditors due within one year. The directors have classified it as repayable on demand. The loan is unsecured and interest free.