REGISTERED NUMBER: 07330962 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Blue Sky Finance Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

M J Wakefield

Mrs J A Wakefield

Registered office:

The Courtyard

19 High Street

Pershore

Worcestershire

WR10 1AA

Registered number:

07330962 (England and Wales)

Accountants:

Crowthers Chartered Accountants

19 High Street

Pershore

Worcestershire

WR10 1AA

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

44,466

68,646

44,466

68,646

CURRENT ASSETS

Debtors

6

1,075,977

985,161

Cash at bank

-

131

1,075,977

985,292

CREDITORS

Amounts falling due within one year

7

1,048,147

861,987

NET CURRENT ASSETS

27,830

123,305

TOTAL ASSETS LESS CURRENT LIABILITIES

72,296

191,951

CREDITORS

Amounts falling due after more than one year

8

(26,533

)

(53,221

)

PROVISIONS FOR LIABILITIES

(5,022

)

(8,716

)

NET ASSETS

40,741

130,014

CAPITAL AND RESERVES

Called up share capital

11

10,000

10,000

Retained earnings

30,741

120,014

SHAREHOLDERS' FUNDS

40,741

130,014

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

M J Wakefield - Director

1.	STATUTORY INFORMATION

Blue Sky Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements; estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered· to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the company's accounting policies

The were no critical judgements, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion. It also includes finance and commission income for the lending business.

Invoices are not raised until a contract is complete so the value of incomplete services is included as amounts recoverable on contracts in the balance sheet.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

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

-

33% on cost

Fixtures and fittings

-

Straight line over 5 years

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments

Assets acquired under hire purchase and finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 April 2024

and 31 March 2025

73,711

Amortisation

At 1 April 2024

and 31 March 2025

73,711

Net book value

At 31 March 2025

-

At 31 March 2024

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

46,556

33,640

108,525

392,920

581,641

Additions

-

-

35,995

6,181

42,176

Disposals

-

-

(53,380

)

-

(53,380

)

At 31 March 2025

46,556

33,640

91,140

399,101

570,437

Depreciation

At 1 April 2024

46,254

28,669

67,724

370,348

512,995

Charge for year

262

2,699

22,779

13,926

39,666

Eliminated on disposal

-

-

(26,690

)

-

(26,690

)

At 31 March 2025

46,516

31,368

63,813

384,274

525,971

Net book value

At 31 March 2025

40

2,272

27,327

14,827

44,466

At 31 March 2024

302

4,971

40,801

22,572

68,646

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

87,213

54,835

Other debtors

988,764

930,326

1,075,977

985,161

Trade debtors in 2025 and 2024 include loans made to 3rd parties under finance leases and have been split between the repayments due within twelve months and those that fall due after more than one year.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

79,011

65,505

Hire purchase contracts (see note 9)

22,360

31,522

Trade creditors

312,626

245,790

Taxation and social security

385,577

327,569

Other creditors

248,573

191,601

1,048,147

861,987

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,667

11,667

Hire purchase contracts (see note 9)

24,866

41,554

26,533

53,221

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

22,360

31,522

Between one and five years

24,866

41,554

47,226

73,076

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

26,913

41,973

Bank loans

53,765

35,199

80,678

77,172

Lloyds TSB hold a fixed and floating charge over the assets of the company, the charge contains a negative pledge.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

Ordinary

1

10,000

10,000

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2025

2024

£

£

M J Wakefield

Balance outstanding at start of year

371,083

214,216

Amounts advanced

66,448

156,867

Amounts repaid

(13,899

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

423,632

371,083

Mrs J A Wakefield

Balance outstanding at start of year

322,591

186,316

Amounts advanced

61,820

136,275

Amounts repaid

(55,931

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

328,480

322,591

The loans are unsecured, interest has been charged at 2.25% (2024: 2.5%) and the loans have no fixed repayment terms.

13.	FINANCE LEASES

During the year the company made loans to 3rd parties under finance leases. The capital amounts outstanding on the loans are included within trade debtors and have been split between due within twelve months and those that fall due after more than one year. The interest received during the year has been included within income on the profit and loss account.