Skye Cloud Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07924180 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

SKYE CLOUD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J R Bishop

G J Coppin

P A Swords

H K M Al-Shukri

REGISTERED OFFICE:

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

REGISTERED NUMBER:

07924180 (England and Wales)

ACCOUNTANTS:

CBHC Limited

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

FIXED ASSETS

Tangible assets

4

42,762

53,825

CURRENT ASSETS

Debtors

5

738,913

642,066

Cash at bank

40,416

159,009

779,329

801,075

CREDITORS

Amounts falling due within one year

6

427,755

472,973

NET CURRENT ASSETS

351,574

328,102

TOTAL ASSETS LESS CURRENT LIABILITIES

394,336

381,927

CREDITORS

Amounts falling due after more than one year

7

14,444

36,111

NET ASSETS

379,892

345,816

CAPITAL AND RESERVES

Called up share capital

8

224

224

Share premium

200,180

200,180

Retained earnings

179,488

145,412

SHAREHOLDERS' FUNDS

379,892

345,816

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 by the Board of Directors and authorised for issue on 22 April 2020 and were signed on its behalf by:

G J Coppin - Director

1.	STATUTORY INFORMATION

Skye Cloud 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Going concern

The accounts have been prepared on a going concern basis assuming the continued support of the companies

creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2019

130,871

Additions

2,992

At 31 January 2020

133,863

DEPRECIATION

At 1 February 2019

77,046

Charge for year

14,055

At 31 January 2020

91,101

NET BOOK VALUE

At 31 January 2020

42,762

At 31 January 2019

53,825

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

375,198

188,690

Amounts owed by participating interests

316,651

2,982

Other debtors

47,064

450,394

738,913

642,066

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Finance leases

21,667

21,667

Trade creditors

176,423

202,743

Amounts owed to participating interests

32,517

60,017

Taxation and social security

112,927

221,156

Other creditors

84,221

(32,610

)

427,755

472,973

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Finance leases

14,444

36,111

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

200

Ordinary A

£1

200

200

20

Ordinary B

1

20

20

4

Ordinary C

1

4

4

224

224

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed J Bishop £25 and H Al-Shukri £171.

In the year management charges of £46,000 were charged from Cloud Enterprise Solutions Limited to Skye

Cloud Ltd.

At the balance sheet date the following companies owed Skye Cloud Ltd monies. Ascension Global Recruitment

Limited £96,282 and Cloud Enterprise Solutions £220,369.

The above companies are all companies which are controlled and owned by either G Coppin or P Swords.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, who own 99% of the called up share capital.