Skyline Bradford Limited - Accounts to registrar (filleted) - small 23.1.2
Skyline Bradford Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 |
| FOR |
| SKYLINE BRADFORD LIMITED |
| SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SKYLINE BRADFORD LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Old Casino |
| 28 Fourth Avenue |
| Hove |
| East Sussex |
| BN3 2PJ |
| SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845) |
| BALANCE SHEET |
| 31 OCTOBER 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2022 |
| 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 |
| SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 1. | STATUTORY INFORMATION |
| Skyline Bradford Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| As shown by the Balance sheet the company's assets are exceeded by its liabilities. However the company's continued activities are supported by the Buyers and Investors. The Directors therefore consider that, in their opinion it is appropriate for these accounts to be prepared on a going concern basis. |
| Significant judgements and estimates |
| The Company is developing a property in Bradford on behalf of initial buyers and or investors and new buyers of the residential flats being developed within the property. Finance for the purchase of the lease and the financing of the development so far has been from the Buyers/Investors. Revenue for the company will be recognised when the development has been completed and the residential units are sold. |
| 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 |
| Long leasehold | - |
| Work in progress |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| 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 NIL (2021 - NIL). |
| SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Long |
| leasehold |
| £ |
| COST |
| At 1 November 2021 |
| and 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 |
| At the time the valuation mentioned in these notes was carried out changes in UK Legislation were before the Select Committee in Parliament. The valuation given is based on the special assumption that: |
| The Market Value of the long leasehold interest subject to leasehold apartment sales and on the assumption that all remaining apartments are sold on a similar lease/basis and that the Sub-Committee Report and findings will be enacted into UK law. It also was made on the assumption of a sale by private treaty within a marketing period of 12 months.. |
| 5. | STOCKS |
| 2022 | 2021 |
| £ | £ |
| Work-in-progress |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed by group undertakings |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Money from Buyers | 184,230 | 184,230 |
| Buyer Deposits | 1,074,966 | 267,187 |
| Other creditors |
| Directors' loan accounts | 3 | - |
| Accrued expenses |
| The Purchase of the Long Lease was secured by funds from initial Buyers and Investors. The Company has stepped in to rescue the project which was in danger of collapsing. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Other creditors |
| SKYLINE BRADFORD LIMITED (REGISTERED NUMBER: 11603845) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2022 | 2021 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 14,352 | 19,907 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year, Mr N Monks introduced his loan to the company. As at 31 October 2022, the company owed him £3. This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr N Monks . |