Skyblue Productions Limited - Period Ending 2014-05-31

Registration number: 04428364

Skyblue Productions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2014
 

Lennards
Chartered Accountants
The Vicarage
31 Great King Street
Macclesfield
Cheshire
SK11 6PL

Skyblue Productions Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Skyblue Productions Limited
for the Year Ended 31 May 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Skyblue Productions Limited for the year ended 31 May 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Skyblue Productions Limited, as a body, in accordance with the terms of our engagement letterdated 15 January 2013. Our work has been undertaken solely to prepare for your approval the accounts of Skyblue Productions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skyblue Productions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Skyblue Productions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Skyblue Productions Limited. You consider that Skyblue Productions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Skyblue Productions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Lennards
Chartered Accountants
The Vicarage
31 Great King Street
Macclesfield
Cheshire
SK11 6PL

10 February 2015

Page 1

Skyblue Productions Limited
(Registration number: 04428364)
Abbreviated Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					235			313
Current assets
Debtors					27			1,076
Cash at bank and in hand					1,846			1,105
					1,873			2,181
Creditors: Amounts falling due within one year					(12,085)			(15,955)
Net current liabilities					(10,212)			(13,774)
Net liabilities					(9,977)			(13,461)
Capital and reserves
Called up share capital		3			-			2
Profit and loss account					(9,977)			(13,463)
Shareholders' deficit					(9,977)			(13,461)

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Skyblue Productions Limited
(Registration number: 04428364)
Abbreviated Balance Sheet at 31 May 2014
......... continued

For the year ending 31 May 2014 the company was entitled to exemption 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 director acknowledges responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 10 February 2015

.........................................
Suzanne Mottram
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Skyblue Productions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

The company's turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year. The whole of the company's turnover was generated from its main activity and arose in the U.K.

Depreciation

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Asset class	Depreciation method and rate
Office equipment	20% per annum of cost

Stocks and work in progress have been valued at the lower of cost and net realisable value; in respect of work in progress and finished goods cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may crystallise.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Skyblue Productions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2013		3,514			3,514
At 31 May 2014		3,514			3,514
Depreciation
At 1 June 2013		3,201			3,201
Charge for the year		78			78
At 31 May 2014		3,279			3,279
Net book value
At 31 May 2014		235			235
At 31 May 2013		313			313

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		2			2			2			2

Page 5