Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2021 1 January 2021 false 1 January 2022 29 March 2023 29 March 2023 05657788 Mr Colin Merrett Mrs Maxine Merrett Mrs Maxine Merrett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05657788 2021-12-31 05657788 2023-03-29 05657788 2022-01-01 2023-03-29 05657788 frs-core:CurrentFinancialInstruments 2023-03-29 05657788 frs-core:Non-currentFinancialInstruments 2023-03-29 05657788 frs-core:BetweenOneFiveYears 2023-03-29 05657788 frs-core:FurnitureFittings 2023-03-29 05657788 frs-core:FurnitureFittings 2022-01-01 2023-03-29 05657788 frs-core:FurnitureFittings 2021-12-31 05657788 frs-core:MotorVehicles 2023-03-29 05657788 frs-core:MotorVehicles 2022-01-01 2023-03-29 05657788 frs-core:MotorVehicles 2021-12-31 05657788 frs-core:PlantMachinery 2023-03-29 05657788 frs-core:PlantMachinery 2022-01-01 2023-03-29 05657788 frs-core:PlantMachinery 2021-12-31 05657788 frs-core:WithinOneYear 2023-03-29 05657788 frs-core:ShareCapital 2023-03-29 05657788 frs-core:RetainedEarningsAccumulatedLosses 2023-03-29 05657788 frs-bus:PrivateLimitedCompanyLtd 2022-01-01 2023-03-29 05657788 frs-bus:FilletedAccounts 2022-01-01 2023-03-29 05657788 frs-bus:SmallEntities 2022-01-01 2023-03-29 05657788 frs-bus:AuditExempt-NoAccountantsReport 2022-01-01 2023-03-29 05657788 frs-bus:SmallCompaniesRegimeForAccounts 2022-01-01 2023-03-29 05657788 frs-bus:Director1 2022-01-01 2023-03-29 05657788 frs-bus:Director2 2022-01-01 2023-03-29 05657788 frs-bus:CompanySecretary1 2022-01-01 2023-03-29 05657788 frs-countries:EnglandWales 2022-01-01 2023-03-29 05657788 2020-12-31 05657788 2021-12-31 05657788 2021-01-01 2021-12-31 05657788 frs-core:CurrentFinancialInstruments 2021-12-31 05657788 frs-core:Non-currentFinancialInstruments 2021-12-31 05657788 frs-core:BetweenOneFiveYears 2021-12-31 05657788 frs-core:WithinOneYear 2021-12-31 05657788 frs-core:ShareCapital 2021-12-31 05657788 frs-core:RetainedEarningsAccumulatedLosses 2021-12-31
Registered number: 05657788
Skyline Hire Ltd
Unaudited Financial Statements
For the Period 1 January 2022 to 29 March 2023
NB Accountancy Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 05657788
29 March 2023 31 December 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 423,498 2,251,345
423,498 2,251,345
CURRENT ASSETS
Debtors 5 669,482 1,230,452
Cash at bank and in hand 15,647 251,014
685,129 1,481,466
Creditors: Amounts Falling Due Within One Year 6 (924,737 ) (1,324,436 )
NET CURRENT ASSETS (LIABILITIES) (239,608 ) 157,030
TOTAL ASSETS LESS CURRENT LIABILITIES 183,890 2,408,375
Creditors: Amounts Falling Due After More Than One Year 7 (795,359 ) (1,562,193 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (121,840 )
NET (LIABILITIES)/ASSETS (611,469 ) 724,342
CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Income Statement (661,469 ) 674,342
SHAREHOLDERS' FUNDS (611,469) 724,342
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For the period ending 29 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Income Statement.
On behalf of the board
Mr Colin Merrett
Director
27/08/2025
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
Skyline Hire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05657788 . The registered office is Unit 47-49 Icknield Way Business Park, Tring Road, Dunstable, LU6 2JX.
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:
Plant & Machinery 20% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 20% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
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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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 28 (2021: 28)
28 28
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2022 4,491,064 883,675 120,664 5,495,403
Additions 18,407 - 17,248 35,655
Disposals (822,320 ) (18,407 ) - (840,727 )
As at 29 March 2023 3,687,151 865,268 137,912 4,690,331
Depreciation
As at 1 January 2022 2,616,542 540,879 86,637 3,244,058
Provided during the period 860,879 161,664 23,040 1,045,583
Disposals (22,808 ) - - (22,808 )
As at 29 March 2023 3,454,613 702,543 109,677 4,266,833
Net Book Value
As at 29 March 2023 232,538 162,725 28,235 423,498
As at 1 January 2022 1,874,522 342,796 34,027 2,251,345
5. Debtors
29 March 2023 31 December 2021
£ £
Due within one year
Trade debtors 57,793 1,182,111
Other debtors 611,689 48,341
669,482 1,230,452
6. Creditors: Amounts Falling Due Within One Year
29 March 2023 31 December 2021
£ £
Net obligations under finance lease and hire purchase contracts 574,257 662,559
Trade creditors 52,988 504,316
Bank loans and overdrafts 45,712 72,256
Other creditors 20,720 13,864
Taxation and social security 231,060 71,441
924,737 1,324,436
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7. Creditors: Amounts Falling Due After More Than One Year
29 March 2023 31 December 2021
£ £
Net obligations under finance lease and hire purchase contracts 795,359 1,562,193
8. Obligations Under Finance Leases and Hire Purchase
29 March 2023 31 December 2021
£ £
The future minimum finance lease payments are as follows:
Not later than one year 574,257 662,559
Later than one year and not later than five years 795,359 1,562,193
1,369,616 2,224,752
1,369,616 2,224,752
9. Share Capital
29 March 2023 31 December 2021
£ £
Allotted, Called up and fully paid 50,000 50,000
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