Skylay Property Investments Ltd Filleted Accounts Cover
Skylay Property Investments Ltd
Company No. SC739776
Information for Filing with The Registrar
31 July 2024
Skylay Property Investments Ltd Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 July 2024.
Principal activities
The principal activity of the company during the year under review was residential property investment.
Director
The Director who served at any time during the year was as follows:
D. Martin
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
D. Martin
Director
29 May 2025
Skylay Property Investments Ltd Balance Sheet Registrar
at
31 July 2024
Company No.
SC739776
Notes
2024
2023
£
£
Fixed assets
Investment property
4
197,960-
197,960-
Current assets
Debtors
5
49,740-
Cash at bank and in hand
2,64639,089
52,38639,089
Creditors: Amount falling due within one year
6
(84,152)
(40,100)
Net current liabilities
(31,766)
(1,011)
Total assets less current liabilities
166,194
(1,011)
Creditors: Amounts falling due after more than one year
7
(233,046)
-
Net liabilities
(66,852)
(1,011)
Capital and reserves
Called up share capital
1-
Profit and loss account
9
(66,853)
(1,011)
Total equity
(66,852)
(1,011)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 29 May 2025 and signed on its behalf by:
D. Martin
Director
29 May 2025
Skylay Property Investments Ltd Notes to the Accounts Registrar
for the year ended 31 July 2024
1
General information
Skylay Property Investments Ltd is a private company limited by shares and incorporated in Scotland.
Its registered number is: SC739776
Its registered office is:
20 Marchfield Park Lane
Edinburgh
EH4 5BF
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Investment property
Freehold Investment Property
£
Valuation
Additions
197,960
At 31 July 2024
197,960
5
Debtors
2024
2023
£
£
VAT recoverable
3,264-
Other debtors
46,476-
49,740-
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
6,916-
Loans from directors
76,03739,100
Accruals and deferred income
1,1991,000
84,15240,100
7
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Other creditors
233,046-
233,046-
8
Share Capital
1 ordinary share at £1.00
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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