Blue Sky Digital Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07678442 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2021

FOR

BLUE SKY DIGITAL SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N C Brewer

Mrs M Brewer

Mr I J Brewer

Mrs D Brewer

Mr A L Fenwick

REGISTERED OFFICE:

The Innovation Centre Phase 2

Ely Valley Industrial Estate

Pontyclun

CF72 9DZ

REGISTERED NUMBER:

07678442 (England and Wales)

ACCOUNTANTS:

Aspen Waite Corporate Solutions

Aspen Marketing Limited

Chartered Certified Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

FIXED ASSETS

Tangible assets

4

113,051

86,789

CURRENT ASSETS

Stocks

417,735

371,765

Debtors

5

716,208

377,553

Cash at bank

341,186

533,265

1,475,129

1,282,583

CREDITORS

Amounts falling due within one year

6

(648,352

)

(504,823

)

NET CURRENT ASSETS

826,777

777,760

TOTAL ASSETS LESS CURRENT LIABILITIES

939,828

864,549

CREDITORS

Amounts falling due after more than one year

7

(115,941

)

(192,044

)

PROVISIONS FOR LIABILITIES

(21,912

)

(16,490

)

NET ASSETS

801,975

656,015

CAPITAL AND RESERVES

Called up share capital

210

210

Retained earnings

801,765

655,805

801,975

656,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2021 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 and authorised for issue on 28th June 2022 and were signed on its behalf by:

Mr I J Brewer - Director

Mr N C Brewer - Director

1.	STATUTORY INFORMATION

Blue Sky Digital Solutions 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% straight line basis

Motor vehicles

-

20% straight line basis

Computer equipment

-

20% straight line basis

Stocks

Stocks 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st October 2020

11,573

110,078

34,176

155,827

Additions

10,493

47,611

1,135

59,239

Disposals

(10,845

)

(9,633

)

(17,525

)

(38,003

)

At 30th September 2021

11,221

148,056

17,786

177,063

DEPRECIATION

At 1st October 2020

11,181

31,446

26,411

69,038

Charge for year

1,655

25,282

3,532

30,469

Eliminated on disposal

(10,845

)

(7,125

)

(17,525

)

(35,495

)

At 30th September 2021

1,991

49,603

12,418

64,012

NET BOOK VALUE

At 30th September 2021

9,230

98,453

5,368

113,051

At 30th September 2020

392

78,632

7,765

86,789

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st October 2020

92,483

Additions

28,995

At 30th September 2021

121,478

DEPRECIATION

At 1st October 2020

18,497

Charge for year

20,913

At 30th September 2021

39,410

NET BOOK VALUE

At 30th September 2021

82,068

At 30th September 2020

73,986

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/21

30/9/20

£

£

Trade debtors

419,306

252,294

Other debtors

-

13,687

Directors' loan accounts

266,856

98,743

Accrued income

9,951

-

Prepayments

20,095

12,829

716,208

377,553

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/21

30/9/20

£

£

Bank loans and overdrafts

10,648

-

Hire purchase contracts

22,281

-

Trade creditors

296,795

238,808

Corporation tax

183,527

169,599

Social security and other taxes

10,950

39,513

VAT

90,843

31,127

Other creditors

16,935

17,338

Accrued expenses

16,373

8,438

648,352

504,823

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/21

30/9/20

£

£

Bounce Bank Loan > 1 Year

36,183

50,000

Hire purchase contracts

79,758

73,395

Other creditors

-

68,649

115,941

192,044

Amounts falling due in more than five years:

Repayable by instalments

Bounce Bank Loan > 1 Year

36,183

50,000

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £377,012 (2020 - £343,075) were paid to directors.

As at the balance sheet date, directors owed £266,856 (2020 - £98,743) to the company. The directors loan accounts were settled within 9 months of the year end by way of a final dividend.