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Registered number: 13630960
SKY UK DEVELOPMENT LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
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SKY UK DEVELOPMENT LIMITED
COMPANY INFORMATION
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Chartered Accountants and Statutory Auditors
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1st Floor Sackville House
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SKY UK DEVELOPMENT LIMITED
CONTENTS
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Statement of Changes in Equity
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Notes to the Financial Statements
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SKY UK DEVELOPMENT LIMITED
REGISTERED NUMBER: 13630960
BALANCE SHEET
AS AT 31 MARCH 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Allotted, called up and fully paid share capital
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Equity shareholder's deficit
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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 Directors' Report and Statement of Comprehensive Income in accordance with provisions applicable to companies subject to the small companies' regime, under section 444 of the Companies Act 2006.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 December 2025.
The notes on pages 3 to 7 form part of these financial statements.
Page 1
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SKY UK DEVELOPMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2025
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Shares issued during the year
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At 30 September 2023 and 1 October 2023
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The notes on pages 3 to 7 form part of these financial statements.
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Page 2
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SKY UK DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Sky UK Development Limited (Company number: 13630960), having its registered office and principal place of business at Uk House, 5th Floor, 164-182 Oxford Street, London, W1D 1NN, is a private limited company incorporated in England and Wales.
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 accounting period length has been extended to run from 1 October 2023 to 31 March 2025.
The following principal accounting policies have been applied:
The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.
As at 31 March 2025 the Company has net liabilities of £5,423,044 (30 September 2023: £1,987,979) and generated a loss of £3,435,065 during the period ended 31 March 2025 (year ended 30 September 2023: £1,646,050). The financial statements have been prepared on a going concern basis as the parent company has committed to providing financial funding support for at least the next twelve months from the date of the signing of these financial statements. The parent will not require repayment until the Company is able to do so without jeopardising the continuation of its trading operations.
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
Page 3
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SKY UK DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
Tax is recognised in the Statement of Comprehensive Income.
The current corporation 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.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
Page 4
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SKY UK DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
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The average monthly number of employees, including directors, during the period was 3 (2023 - 3).
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Page 5
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SKY UK DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Due to group companies >1 yr
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Related party transactions
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The Company has taken advantage of Section 33.1A of Financial Reporting Standard 102 in not disclosing transactions between wholly-owned members of a group.
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The Company is controlled by its immediate parent Sky Renewables S.A R.L., a company registered in Luxembourg, by virtue of its shareholding.
The ultimate controlling party is Octopus Renewables Limited, a company registered in England and Wales.
Page 6
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SKY UK DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
The auditors' report on the financial statements for the period ended 31 March 2025 was unqualified.
The audit report was signed on 28 December 2025 by Caryl King BSc ACA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.
Page 7
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