Blueskies Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08430980 (England and Wales)

Financial Statements for the Year Ended 31 March 2020

for

Blueskies Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D G Hogben

SECRETARY:

Mrs U Hogben

REGISTERED OFFICE:

48 Albert Road

Addlestone

Surrey

KT15 2PX

REGISTERED NUMBER:

08430980 (England and Wales)

ACCOUNTANTS:

CSL Partnership Limited

Chartered Certified Accountants

238 Station Road

Addlestone

Surrey

KT15 2PS

FIXED ASSETS

Property, plant and equipment

4

25

34

CURRENT ASSETS

Inventories

2,050

1,250

Cash at bank

12,105

19,015

14,155

20,265

CREDITORS

Amounts falling due within one year

5

(13,635

)

(19,477

)

NET CURRENT ASSETS

520

788

TOTAL ASSETS LESS CURRENT LIABILITIES

545

822

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

544

821

SHAREHOLDERS' FUNDS

545

822

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 June 2020 and were signed by:

D G Hogben - Director

1.	STATUTORY INFORMATION

Blueskies Trading 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.

Revenue

Revenue is measured at fair value and represents revenues receivable under contracts net of value

added tax. Where contractual obligations have been partially performed at the balance sheet date,

revenue is recognised to the extent that the company has obtained the right to consideration through

its performance.

Tangible fixed assets

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over

their estimated useful lives as follows:

Plant & machinery - 25% on reducing balance

Computer equipment - 33% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item

sold is recognised in the income statement.

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

142

1,387

1,529

DEPRECIATION

At 1 April 2019

108

1,387

1,495

Charge for year

9

-

9

At 31 March 2020

117

1,387

1,504

NET BOOK VALUE

At 31 March 2020

25

-

25

At 31 March 2019

34

-

34

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Tax

1,462

2,754

Directors' current accounts

10,566

15,732

Accrued expenses

1,607

991

13,635

19,477

6.	RELATED PARTY DISCLOSURES

At the year end the company owed Mr D G Hogben £10,566 (2019 - £15,732) in respect of his director's

loan account.

The loan is interest free and repayable on demand.