Skyports Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10755230 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

SKYPORTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D C E Walker

Mrs R Gundry

S Morrish

REGISTERED OFFICE:

Kingfisher House

Radford Way

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

10755230 (England and Wales)

ACCOUNTANTS:

Haines Watts

Advantage

87 Castle Street

Reading

Berkshire

RG1 7SN

FIXED ASSETS

Intangible assets

4

2,833

-

Tangible assets

5

1,017,872

-

1,020,705

-

CURRENT ASSETS

Debtors

6

1,051,922

2,160,988

Cash at bank and in hand

4,091

16,872

1,056,013

2,177,860

CREDITORS

Amounts falling due within one year

7

465,236

3,926

NET CURRENT ASSETS

590,777

2,173,934

TOTAL ASSETS LESS CURRENT LIABILITIES

1,611,482

2,173,934

CAPITAL AND RESERVES

Called up share capital

221,670

221,670

Share premium

2,078,401

2,078,401

Retained earnings

(688,589

)

(126,137

)

1,611,482

2,173,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 and authorised for issue by the Board of Directors on 7 November 2019 and were signed on its behalf by:

D C E Walker - Director

1.	STATUTORY INFORMATION

Skyports 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.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of two 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 etc

-

33% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

4,000

At 30 September 2019

4,000

AMORTISATION

Charge for year

1,167

At 30 September 2019

1,167

NET BOOK VALUE

At 30 September 2019

2,833

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

1,019,266

At 30 September 2019

1,019,266

DEPRECIATION

Charge for year

1,394

At 30 September 2019

1,394

NET BOOK VALUE

At 30 September 2019

1,017,872

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,113

60

Other debtors

948,675

2,147,727

VAT

8,573

10,367

Prepayments and accrued income

89,561

2,834

1,051,922

2,160,988

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

450,184

3,748

Social security and other taxes

13,215

(1,028

)

Other creditors

987

296

Accruals and deferred income

850

910

465,236

3,926