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Company No: 13947487 (England and Wales)

BLUE SKY ACTION LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BLUE SKY ACTION LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BLUE SKY ACTION LTD

BALANCE SHEET

As at 31 December 2024
BLUE SKY ACTION LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,492,788 1,492,788
1,492,788 1,492,788
Current assets
Debtors 4 54,323 8,205
Cash at bank and in hand 66,281 34,012
120,604 42,217
Creditors: amounts falling due within one year 5 ( 50,235) ( 39,390)
Net current assets 70,369 2,827
Total assets less current liabilities 1,563,157 1,495,615
Creditors: amounts falling due after more than one year 6 ( 1,378,272) ( 1,360,272)
Provision for liabilities ( 17,500) ( 17,500)
Net assets 167,385 117,843
Capital and reserves
Called-up share capital 7 1,000 1,000
Revaluation reserve 52,500 52,500
Profit and loss account 113,885 64,343
Total shareholders' funds 167,385 117,843

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Blue Sky Action Ltd (registered number: 13947487) were approved and authorised for issue by the Board of Directors on 16 June 2025. They were signed on its behalf by:

Mr P Aitken
Director
BLUE SKY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BLUE SKY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blue Sky Action Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 1,492,788
As at 31 December 2024 1,492,788

Valuation

The investment property has been valued by the directors at market value.

4. Debtors

2024 2023
£ £
Other debtors 54,323 8,205

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 15,311 14,638
Other creditors 34,924 24,752
50,235 39,390

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 1,378,272 1,360,272

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares shares of £ 1.00 each 1,000 1,000