| CITY SKY INVESTMENTS LTD |
| Registered number: |
08599512 |
| Balance Sheet |
| as at 31 July 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
600,000 |
|
|
600,000 |
|
| Current assets |
| Debtors |
4 |
|
150 |
|
|
150 |
| Cash at bank and in hand |
|
|
63,862 |
|
|
60,965 |
|
|
|
64,012 |
|
|
61,115 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,093) |
|
|
(1,547) |
|
| Net current assets |
|
|
|
62,919 |
|
|
59,568 |
|
| Total assets less current liabilities |
|
|
|
662,919 |
|
|
659,568 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(638,276) |
|
|
(638,276) |
|
| Provisions for liabilities |
|
|
|
(3,068) |
|
|
(3,068) |
|
|
| Net assets |
|
|
|
21,575 |
|
|
18,224 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
190 |
|
|
190 |
| Revaluation reserve |
8 |
|
|
13,077 |
|
|
13,077 |
| Profit and loss account |
|
|
|
8,308 |
|
|
4,957 |
|
| Shareholders' funds |
|
|
|
21,575 |
|
|
18,224 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Theodoros Pitsillides |
| Director |
| Approved by the board on 28 April 2023 |
|
| CITY SKY INVESTMENTS LTD |
| Notes to the Accounts |
| for the year ended 31 July 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents rents receivable during the year. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investment property |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Fair Value |
|
At 1 August 2021 |
600,000 |
|
At 31 July 2022 |
600,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 July 2022 |
- |
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2022 |
600,000 |
|
At 31 July 2021 |
600,000 |
|
|
|
|
|
|
|
|
|
|
|
Fair value at 31 July 2018 is represented by: |
| £ |
|
Valuation in 2017 |
16,145 |
|
Cost |
583,855 |
|
|
|
|
|
|
|
|
600,000 |
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Other debtors |
150 |
|
150 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Taxation and social security costs |
786 |
|
1,241 |
|
Other creditors |
307 |
|
306 |
|
|
|
|
|
|
1,093 |
|
1,547 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
340,500 |
|
340,500 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
25,981 |
|
25,981 |
|
Other creditors |
271,795 |
|
271,795 |
|
|
|
|
|
|
638,276 |
|
638,276 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2022 |
|
2021 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
340,500 |
|
340,500 |
|
|
|
|
|
|
|
|
|
|
The loan is secured by way of fixed and floating charge over the leasehold property held by the company and contains a negative pledge. |
|
|
|
|
|
|
|
|
|
| 8 |
Fair value reserve |
2022 |
|
2021 |
| £ |
£ |
|
|
At 1 August 2021 |
13,077 |
|
13,077 |
|
|
At 31 July 2022 |
13,077 |
|
13,077 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Other information |
|
|
CITY SKY INVESTMENTS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
1 Kings Avenue |
|
London |
|
United Kingdom |
|
N21 3NA |
