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Registered number: 11053890
SKY3 Investments Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11053890
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,550 38,747
Investment Properties 5 12,742,456 12,742,456
12,769,006 12,781,203
CURRENT ASSETS
Debtors 6 94,465 54,827
Cash at bank and in hand 171,739 192,660
266,204 247,487
Creditors: Amounts Falling Due Within One Year 7 (11,169,319 ) (11,190,029 )
NET CURRENT ASSETS (LIABILITIES) (10,903,115 ) (10,942,542 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,865,891 1,838,661
Creditors: Amounts Falling Due After More Than One Year 8 (895,166 ) (919,264 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,638 ) (9,687 )
NET ASSETS 964,087 909,710
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 963,987 909,610
SHAREHOLDERS' FUNDS 964,087 909,710
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Uresh Naik
Director
8 July 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
SKY3 Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11053890 . The registered office is 21 High View Close, Hamilton Office Park, Leicester, Leicestershire, LE4 9LJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. 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.
2.8. 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.
2.9. Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2023 154,991 - 154,991
Additions - 35,400 35,400
As at 31 October 2024 154,991 35,400 190,391
Depreciation
As at 1 November 2023 116,244 - 116,244
Provided during the period 38,747 8,850 47,597
As at 31 October 2024 154,991 8,850 163,841
Net Book Value
As at 31 October 2024 - 26,550 26,550
As at 1 November 2023 38,747 - 38,747
5. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 12,742,456
Additions -
As at 31 October 2024 12,742,456
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 12,742,456 12,742,456
Investment properties were valued on a fair value basis on 31 October 2024 by the independent valuer and the
director.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 60,850 24,484
Prepayments and accrued income 23,614 20,343
Other debtors 10,001 10,000
94,465 54,827
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 41,365 31,888
Bank loans and overdrafts 68,365 68,365
Other taxes and social security 119,325 101,873
Other creditors 10,877,419 10,955,770
Accruals and deferred income 62,845 32,133
11,169,319 11,190,029
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 895,166 919,264
9. Secured Creditors
The loans are secured against the personal guarantee of the director Mr U Naik. 
2024 2023
£ £
Bank loans and overdrafts 963,531 987,629
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Directors Loan Account 
Directors Loan Account - these loans are free of interest and repayable on demand. The amount is included within other creditors. 
Amount due to the related party: 2024: £10,699,168 (2023: £10,783,008)
Siennico Ventures Ltd - Director and Shareholders in common
There is a loan account between the two companies which is free of interest and repayable on demand. The amount is included within other creditors. 
Amount due to the related party: 2024: £150,000 (2023: £150,000)
12. Ultimate Controlling Party
Mr U Naik is the ultimate controlling party by virtue of his ownership of 100% of the ordinary share capital of the company. 
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