REGISTERED NUMBER: NI050936 (Northern Ireland)

Blue Skies Associates Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D P Downey

W S M Cairns

REGISTERED OFFICE:

184 Rashee Road

Ballyclare

Co. Antrim

BT39 9JB

REGISTERED NUMBER:

NI050936 (Northern Ireland)

ACCOUNTANTS:

Agnew Mitchell & Cairns

184 Rashee Road

Ballyclare

Co. Antrim

BT39 9JB

BANKERS:

Bank of Ireland

Antrim Road

Glengormley

Co. Antrim

BT36 7QN

FIXED ASSETS

Tangible assets

4

185,826

208,553

Investments

5

20,100

20,100

205,926

228,653

CURRENT ASSETS

Stocks

5,881

36,907

Debtors

6

439,268

72,614

Cash at bank

530,615

391,853

975,764

501,374

CREDITORS

Amounts falling due within one year

7

368,457

148,751

NET CURRENT ASSETS

607,307

352,623

TOTAL ASSETS LESS CURRENT LIABILITIES

813,233

581,276

CREDITORS

Amounts falling due after more than one year

8

(42,223

)

(23,075

)

PROVISIONS FOR LIABILITIES

(26,621

)

(27,948

)

NET ASSETS

744,389

530,253

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

744,388

530,252

SHAREHOLDERS' FUNDS

744,389

530,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

D P Downey - Director

1.	STATUTORY INFORMATION

Blue Skies Associates Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company makes discretionary contributions to the directors' personal pension scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

381,512

Additions

53,766

Disposals

(46,590

)

At 31 March 2025

388,688

DEPRECIATION

At 1 April 2024

172,959

Charge for year

29,903

At 31 March 2025

202,862

NET BOOK VALUE

At 31 March 2025

185,826

At 31 March 2024

208,553

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Investments

20,100

20,100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

235,709

64,849

Other debtors

203,559

7,765

439,268

72,614

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

20,970

43,111

Trade creditors

25,190

2,563

Taxation and social security

89,344

42,014

Other creditors

232,953

61,063

368,457

148,751

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

42,223

23,075

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

20,970

43,111

Between one and five years

42,223

23,075

63,193

66,186

10.	OTHER FINANCIAL COMMITMENTS

The Company has future hire purchase contracts payments of £74,458, (2024 ; £72,615).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

D P Downey

Balance outstanding at start of year

-

9,238

Amounts advanced

178,649

-

Amounts repaid

-

(9,238

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

178,649

-

The Director repaid this balance in full on 31 October 2025.