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Registered number: 04847052
Skipy Skip Hire Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 04847052
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,997 16,582
6,997 16,582
CURRENT ASSETS
Debtors 5 8,005 4,599
Cash at bank and in hand 6,141 963
14,146 5,562
Creditors: Amounts Falling Due Within One Year 6 (46,964 ) (59,642 )
NET CURRENT ASSETS (LIABILITIES) (32,818 ) (54,080 )
TOTAL ASSETS LESS CURRENT LIABILITIES (25,821 ) (37,498 )
Creditors: Amounts Falling Due After More Than One Year 7 (48,000 ) -
NET LIABILITIES (73,821 ) (37,498 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (73,823 ) (37,500 )
SHAREHOLDERS' FUNDS (73,821) (37,498)
For the year ending 30 November 2024 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 Profit and Loss Account.
On behalf of the board
Mr Daniel Miller
Director
29/08/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Skipy Skip Hire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04847052 . The registered office is Ms Accountants, 12 Summer Hill Street, Birmingham, B1 2PE.
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. Research and Development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
2.4. 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:
Freehold 0%
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
No depreciation has been provided in relation to the freehold properties as the director is of the opinion it would substantially under value these assets.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.6. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
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2.7. Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 December 2023 15,539 5,250 14,000 21,072 55,861
As at 30 November 2024 15,539 5,250 14,000 21,072 55,861
Depreciation
As at 1 December 2023 7,769 4,408 12,949 14,153 39,279
Provided during the period 7,770 168 263 1,384 9,585
As at 30 November 2024 15,539 4,576 13,212 15,537 48,864
Net Book Value
As at 30 November 2024 - 674 788 5,535 6,997
As at 1 December 2023 7,770 842 1,051 6,919 16,582
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,686 4,599
Other debtors 2,319 -
8,005 4,599
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (133 ) 6,796
Bank loans and overdrafts - 23,000
Other creditors 47,097 28,363
Taxation and social security - 1,483
46,964 59,642
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 48,000 -
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Page 4
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4