Company Registration No. 10994864 (England and Wales)
Sky Blue Financial Investments Limited
Unaudited accounts
for the year ended 31 March 2024
Sky Blue Financial Investments Limited
Unaudited accounts
Contents
Sky Blue Financial Investments Limited
Company Information
for the year ended 31 March 2024
Directors
Guy Antony Remond
Christel Remond
Company Number
10994864 (England and Wales)
Registered Office
Suite 105, 9 St. George's Court
Altrincham Business Park
Dairyhouse Lane
Altrincham
Cheshire
WA14 5UA
United Kingdom
Accountants
Streamline Accountancy Limited
Suite 105, 9 St Georges Court
Altrincham Business Park
Dairyhouse Lane
Altrincham
Cheshire
WA14 5UA
Sky Blue Financial Investments Limited
Statement of financial position
as at 31 March 2024
Investments
12,560
8,421,498
Debtors
3,005,008
2,035,648
Cash at bank and in hand
517,556
26,028
Creditors: amounts falling due within one year
(3,706,773)
(10,626,090)
Net current liabilities
(184,209)
(8,564,414)
Net liabilities
(171,649)
(142,655)
Called up share capital
100
100
Profit and loss account
(171,749)
(142,755)
Shareholders' funds
(171,649)
(142,655)
For the year ending 31 March 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by
Guy Antony Remond
Director
Company Registration No. 10994864
Sky Blue Financial Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Sky Blue Financial Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10994864. The registered office is Suite 105, 9 St. George's Court, Altrincham Business Park, Dairyhouse Lane, Altrincham, Cheshire, WA14 5UA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
The accounts are presented in £ sterling.
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.
Any estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to accounting estimates are recognised in the period in which the estimate is revised.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Sky Blue Financial Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Listed investments are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure . Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. Fair value is determined by the market value as provided by the fund managers.
Unlisted investments are recognised at cost.
4
Tangible fixed assets
Computer equipment
5
Investments
Other investments
Valuation at 1 April 2023
8,421,498
Valuation at 31 March 2024
12,560
Amounts falling due within one year
Other debtors
3,005,008
2,035,648
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
5,473,640
Loans from directors
3,706,773
5,151,888
Bank loans and overdrafts relate to a facility agreement with UBS AG, London Branch. Subject to sufficient collateral being in place the facility is open ended but on request any amounts due are repayable immediately on demand.
Any amounts outstanding under the agreement are secured by a debenture containing a fixed charge over all assets of the company.
Sky Blue Financial Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Allotted, called up and fully paid:
50 Ordinary A of £1 each
50
50
50 Ordinary B of £1 each
50
50
9
Transactions with related parties
The company has taken advantage of exemptions specified in FRS 102 and not disclosed the detail and nature of the following transactions ; non material transactions, transactions concluded under normal market conditions and transaction with companies under common control including Group companies.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).