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SKY SAILING LIMITED

Registered Number
13079938
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

SKY SAILING LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

QIU, Wei Ren

Registered Address

35 Pond Street
London
NW3 2PN

Registered Number

13079938 (England and Wales)
SKY SAILING LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property315,368,91615,368,916
15,368,91615,368,916
Current assets
Debtors4990,846101,406
Cash at bank and on hand49,977745,604
1,040,823847,010
Creditors amounts falling due within one year5(117,231)(329,487)
Net current assets (liabilities)923,592517,523
Total assets less current liabilities16,292,50815,886,439
Creditors amounts falling due after one year6(19,139,616)(18,209,616)
Net assets(2,847,108)(2,323,177)
Capital and reserves
Profit and loss account(2,847,108)(2,323,177)
Shareholders' funds(2,847,108)(2,323,177)
The financial statements were approved and authorised for issue by the Director on 14 August 2025, and are signed on its behalf by:
QIU, Wei Ren
Director
Registered Company No. 13079938
SKY SAILING LIMITED
Notes to the Financial Statements
for the year ended 31 December 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 compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared assuming the company will continue as a going concern. At the year end, the company had net liabilities of £2,847,108 and loss before taxation of £523,931. However, the directors consider that the company has adequate resources available in order to continue in operational existence for the foreseeable future based on the continuing support from its shareholders. The financial statements do not include the adjustments that would result if the company would be unable to continue in operation.
Revenue from rendering of services
Revenue 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.
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.
Investment property
Investment properties are properties held to earn rentals or for capital appreciation, or both, and are accounted for using the fair value model. Investment properties are revalued annually with resulting gains and losses recognised in profit or loss. These are included in the statement of financial position at their fair values.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
Trade and other 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.Average number of employees

20242023
Average number of employees during the year11
3.Investment property

£
Fair value at 01 January 2415,368,916
At 31 December 2415,368,916
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables24330
Other debtors881,0001,336
Prepayments and accrued income109,603100,040
Total990,846101,406
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables88487,185
Bank borrowings and overdrafts1-
Other creditors6,69580,827
Accrued liabilities and deferred income109,651161,475
Total117,231329,487
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.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors19,139,61618,209,616
Total19,139,61618,209,616