2023-10-012024-09-302024-09-30false12912800SKY SOFTWARE SOLUTIONS 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SKY SOFTWARE SOLUTIONS LTD

Registered Number
12912800
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

SKY SOFTWARE SOLUTIONS LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

YANAMADDI, Shashi Kumar

Registered Address

55, Hanover Gardens Hanover Gardens
Ilford
IG6 2RB

Registered Number

12912800 (England and Wales)
SKY SOFTWARE SOLUTIONS LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets362,1094,138
62,1094,138
Current assets
Cash at bank and on hand54,39285,058
54,39285,058
Creditors amounts falling due within one year4(32,635)(33,353)
Net current assets (liabilities)21,75751,705
Total assets less current liabilities83,86655,843
Creditors amounts falling due after one year5(2,509)-
Net assets81,35755,843
Capital and reserves
Called up share capital100100
Profit and loss account81,25755,743
Shareholders' funds81,35755,843
The financial statements were approved and authorised for issue by the Director on 12 June 2025, and are signed on its behalf by:
YANAMADDI, Shashi Kumar
Director
Registered Company No. 12912800
SKY SOFTWARE SOLUTIONS LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing 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 transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Computer equipment: 33% Straight Line Method Motor vehicle: 20% Straight Line Method Fixture and fitting: 33% Straight Line Method
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year10
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 October 23-6,5512,2248,775
Additions75,427--75,427
At 30 September 2475,4276,5512,22484,202
Depreciation and impairment
At 01 October 23-3,2761,3614,637
Charge for year15,0851,63773417,456
At 30 September 2415,0854,9132,09522,093
Net book value
At 30 September 2460,3421,63812962,109
At 30 September 23-3,2758634,138
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables15,00015,000
Taxation and social security6,8957,153
Finance lease and HP contracts3,160-
Other creditors6,63010,250
Accrued liabilities and deferred income950950
Total32,63533,353
5.Creditors: amounts due after one year

2024

2023

££
Other creditors2,509-
Total2,509-
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts2,509-