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Registered number: 13688748
SKY-HOUSE CO. (KILLAMARSH) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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SKY-HOUSE CO. (KILLAMARSH) LIMITED
REGISTERED NUMBER: 13688748
BALANCE SHEET
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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SKY-HOUSE CO. (KILLAMARSH) LIMITED
REGISTERED NUMBER: 13688748
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 December 2025.
The notes on pages 3 to 7 form part of these financial statements.
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SKY-HOUSE CO. (KILLAMARSH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Sky- House Co. (Killamarsh) Limited is a private company limited by shares, incorporated in England and Wales (registered number: 13688748). Its registered office is: Hope Works, 25 Mowbray Street, Sheffield, S3 8EL. The principal activity of the Company throughout the year continued to be that of other letting and operating of own or leased real estate.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company's functional and presentation currency is pounds sterling.
The following principal accounting policies have been applied:
The Directors have assessed the Company’s ability to continue as a going concern and are of the opinion that the Company remains viable. Post year-end, unit completions continue to generate cash inflows and profitability for the business. The Directors are confident that the overall development is expected to be profitable.
Based on this assessment, the Directors are satisfied that the Company has adequate resources to continue operating for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
Revenue and profits on private house-building developments are included in the financial statements on legal completion.
Revenue in respect of the sale of residential properties is recognised at the fair value of the consideration received or receivable upon legal completion.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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SKY-HOUSE CO. (KILLAMARSH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Housing developments - work in progress:
House developments in progress are valued at the lower of cost and net realisable value in accordance with FRS 102. Cost includes direct expenditure incurred on the development, along with any identifiable overheads that can be directly attributed to the project. Net realisable value represents the estimated selling price of the development, less the costs required to complete the project and any necessary selling expenses. At each reporting date, work in progress is reviewed for impairment, and if the carrying amount exceeds the net realisable value, a provision is made to write down the value accordingly.
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Current and deferred taxation
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Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
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The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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SKY-HOUSE CO. (KILLAMARSH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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House building work in progress
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SKY-HOUSE CO. (KILLAMARSH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Included in other creditors above is a loan of £530,423 (2024: £1,928,205) which is secured by the way of a legal mortgage over the land and a fixed and floating charge over all other assets of the Company.
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SKY-HOUSE CO. (KILLAMARSH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Losses and other deductions
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Fixed asset timing differences
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