Registered number
04304760
Skyline Logistics Limited
Filleted Accounts
31 March 2025
Skyline Logistics Limited
Registered number: 04304760
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 159,049 215,076
Current assets
Debtors 5 286,229 305,665
Cash at bank and in hand 409,984 387,563
696,213 693,228
Creditors: amounts falling due within one year 6 (132,756) (182,564)
Net current assets 563,457 510,664
Total assets less current liabilities 722,506 725,740
Creditors: amounts falling due after more than one year 7 (10,084) (20,000)
Provisions for liabilities (29,800) (43,200)
Net assets 682,622 662,540
Capital and reserves
Called up share capital 2 2
Profit and loss account 682,620 662,538
Shareholders' funds 682,622 662,540
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Cockette
Director
Approved by the board on 24 June 2025
Skyline Logistics Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15-25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 17 21
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 16,200
At 31 March 2025 16,200
Amortisation
At 1 April 2024 16,200
At 31 March 2025 16,200
Net book value
At 31 March 2025 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 57,620 399,834 457,454
Disposals - (22,603) (22,603)
At 31 March 2025 57,620 377,231 434,851
Depreciation
At 1 April 2024 35,067 207,311 242,378
Charge for the year 4,941 48,132 53,073
On disposals - (19,649) (19,649)
At 31 March 2025 40,008 235,794 275,802
Net book value
At 31 March 2025 17,612 141,437 159,049
At 31 March 2024 22,553 192,523 215,076
5 Debtors 2025 2024
£ £
Trade debtors 244,644 264,239
Other debtors 41,585 41,426
286,229 305,665
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 35,487 89,462
Taxation and social security costs 77,087 74,940
Other creditors 20,182 18,162
132,756 182,564
7 Creditors: amounts falling due after one year 2025 2024
£ £
Other creditors 10,084 20,000
8 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 33,125 59,625
9 Controlling party
The company is under joint control of Paul Cockette and Alison Cockette who own all of the issued share capital.
10 Other information
Skyline Logistics Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 40, Walkers Road
North Moons Moat
Redditch
Worcestershire
B98 9HD
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