BrightAccountsProduction v1.0.0 v1.0.0 2024-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity is that of a Bar and Off Licence 25 June 2025 9 5 NI623598 2024-12-31 NI623598 2023-12-31 NI623598 2022-12-31 NI623598 2024-01-01 2024-12-31 NI623598 2023-01-01 2023-12-31 NI623598 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI623598 uk-curr:PoundSterling 2024-01-01 2024-12-31 NI623598 uk-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI623598 uk-bus:FullAccounts 2024-01-01 2024-12-31 NI623598 uk-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 NI623598 uk-core:ShareCapital 2024-12-31 NI623598 uk-core:ShareCapital 2023-12-31 NI623598 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI623598 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI623598 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 NI623598 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI623598 uk-bus:FRS102 2024-01-01 2024-12-31 NI623598 uk-core:Goodwill 2024-01-01 2024-12-31 NI623598 uk-core:Land 2024-01-01 2024-12-31 NI623598 uk-core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 NI623598 uk-core:IntangibleAssetsOtherThanGoodwill 2023-12-31 NI623598 uk-core:Goodwill 2023-12-31 NI623598 uk-core:IntangibleAssetsOtherThanGoodwill 2024-12-31 NI623598 uk-core:Goodwill 2024-12-31 NI623598 uk-core:CurrentFinancialInstruments 2024-12-31 NI623598 uk-core:CurrentFinancialInstruments 2023-12-31 NI623598 uk-core:WithinOneYear 2024-12-31 NI623598 uk-core:WithinOneYear 2023-12-31 NI623598 uk-core:OtherMiscellaneousReserve 2023-12-31 NI623598 uk-core:OtherMiscellaneousReserve 2024-01-01 2024-12-31 NI623598 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 NI623598 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-12-31 NI623598 uk-core:OtherDeferredTax 2024-12-31 NI623598 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-12-31 NI623598 uk-core:OtherMiscellaneousReserve 2024-12-31 NI623598 2024-01-01 2024-12-31 NI623598 uk-bus:Director1 2024-01-01 2024-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI623598
 
 
Sky Blue Pubs (N.I.) Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2024



Sky Blue Pubs (N.I.) Limited

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Sky Blue Pubs (N.I.) Limited
for the financial year ended 31 December 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 December 2024 as set out on pages  to 12 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Sky Blue Pubs (N.I.) Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 December 2024 your duty to ensure that Sky Blue Pubs (N.I.) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sky Blue Pubs (N.I.) Limited. You consider that Sky Blue Pubs (N.I.) Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Sky Blue Pubs (N.I.) Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
25 June 2025



Sky Blue Pubs (N.I.) Limited
Company Registration Number: NI623598
STATEMENT OF FINANCIAL POSITION
as at 31 December 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 4 59,823 59,823
Property, plant and equipment 5 232,274 126,459
───────── ─────────
Non-Current Assets 292,097 186,282
───────── ─────────
 
Current Assets
Inventories 6 36,432 30,875
Receivables 7 5,066 7,153
Cash and cash equivalents 80,204 305,253
───────── ─────────
121,702 343,281
───────── ─────────
Payables: amounts falling due within one year 8 (105,010) 80,027
───────── ─────────
Net Current Assets 16,692 423,308
───────── ─────────
Total Assets less Current Liabilities 308,789 609,590
 
Provisions for liabilities 10 (16,887) (9,493)
───────── ─────────
Net Assets 291,902 600,097
═════════ ═════════
 
Equity
Called up share capital 2 2
Retained earnings 291,900 600,095
───────── ─────────
Equity attributable to owners of the company 291,902 600,097
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 25 June 2025
           
           
________________________________          
Brendan McKee          
Director          
           



Sky Blue Pubs (N.I.) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024

   
1. General Information
 
Sky Blue Pubs (N.I.) Limited is a company limited by shares incorporated in Northern Ireland. 155 Northumberland Street, Belfast, BT13 2JF is the registered office, Unit 4, Twin Spires Centre, 155 Northumberland Street, Belfast, BT13 2JF is the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Licence
Licence are valued at cost less accumulated amortisation.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 2% Straight line
  Fixtures, fittings and equipment - 15% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Inventories
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other receivables 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 except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Exceptional item
Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 9, (2023 - 5).
 
  2024 2023
  Number Number
 
Number of Employees 9 5
  ═════════ ═════════
         
4. Intangible assets
  Licence    
    Goodwill Total
  £ £ £
Cost
At 1 January 2024 59,823 30,000 89,823
  ───────── ───────── ─────────
 
At 31 December 2024 59,823 30,000 89,823
  ───────── ───────── ─────────
Amortisation
 
At 31 December 2024 - 30,000 30,000
  ───────── ───────── ─────────
Carrying amount
At 31 December 2024 59,823 - 59,823
  ═════════ ═════════ ═════════
At 31 December 2023 59,823 - 59,823
  ═════════ ═════════ ═════════
         
5. Property, plant and equipment
  Long Fixtures, Total
  leasehold fittings and  
  property equipment  
  £ £ £
Cost
At 1 January 2024 232,490 174,065 406,555
Additions 98,084 52,344 150,428
  ───────── ───────── ─────────
At 31 December 2024 330,574 226,409 556,983
  ───────── ───────── ─────────
Depreciation
At 1 January 2024 155,989 124,107 280,096
Charge for the financial year 31,186 13,427 44,613
  ───────── ───────── ─────────
At 31 December 2024 187,175 137,534 324,709
  ───────── ───────── ─────────
Carrying amount
At 31 December 2024 143,399 88,875 232,274
  ═════════ ═════════ ═════════
At 31 December 2023 76,501 49,958 126,459
  ═════════ ═════════ ═════════
       
6. Inventories 2024 2023
  £ £
 
Finished goods and goods for resale 36,432 30,875
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Receivables 2024 2023
  £ £
 
Other debtors 1,470 3,720
Prepayments and accrued income 3,596 3,433
  ───────── ─────────
  5,066 7,153
  ═════════ ═════════
       
8. Payables 2024 2023
Amounts falling due within one year £ £
 
Trade payables 65,473 106,096
Amounts owed to connected parties (Note 12) - (212,941)
Taxation  (Note 9) 26,930 23,080
Director's current account 10,412 488
Accruals and deferred income 2,195 3,250
  ───────── ─────────
  105,010 (80,027)
  ═════════ ═════════
       
9. Taxation 2024 2023
  £ £
 
Payables:
VAT 24,875 18,909
Corporation tax 1 1,579
PAYE / NI 1,914 2,592
Machine Games Duty 140 -
  ───────── ─────────
  26,930 23,080
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 9,493 9,493 8,670
Charged to profit and loss 7,394 7,394 823
  ───────── ───────── ─────────
At financial year end 16,887 16,887 9,493
  ═════════ ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2024.
           
12. Related party transactions
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
Saveways     - (212,941)
      ═════════ ═════════
 
Brendan McKee is a director in Sky Blue Pubs (N.I.) Limited and the proprietor in Saveways. As at 1 January 2024 Saveways owed Sky Blue Pubs (N.I.) Limited a balance of £212,941. During the year net transactions totalled £212,941. As at 31 December 2024, Saveways owed Sky Blue Pubs (N.I.) Limited £nil.