Skymobile Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07739543 (England and Wales)

Financial Statements for the Period 1 September 2021 to 30 August 2022

for

Skymobile Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J R Clarke

REGISTERED OFFICE:

116 Duke Street

Liverpool

Merseyside

L1 5JW

REGISTERED NUMBER:

07739543 (England and Wales)

ACCOUNTANTS:

Cobham Murphy

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Tangible assets

4

804

1,014

CURRENT ASSETS

Stocks

468,533

-

Debtors

5

37,597

47,712

Cash at bank

21,008

28,288

527,138

76,000

CREDITORS

Amounts falling due within one year

6

488,976

17,932

NET CURRENT ASSETS

38,162

58,068

TOTAL ASSETS LESS CURRENT LIABILITIES

38,966

59,082

CREDITORS

Amounts falling due after more than one year

7

10,560

14,181

NET ASSETS

28,406

44,901

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

28,405

44,900

28,406

44,901

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 August 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 August 2022 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 29 August 2023 and were signed by:

J R Clarke - Director

1.	STATUTORY INFORMATION

Skymobile 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.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of loan interest and broker fees received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when it is probable that future economic benefits will flow to the entity.

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

-

20% on reducing balance

Stocks

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.

Financial instruments

Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2021

and 30 August 2022

2,310

DEPRECIATION

At 1 September 2021

1,296

Charge for period

210

At 30 August 2022

1,506

NET BOOK VALUE

At 30 August 2022

804

At 31 August 2021

1,014

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.8.22

31.8.21

£

£

Other debtors

37,597

47,712

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.8.22

31.8.21

£

£

Bank loans and overdrafts

3,621

3,621

Taxation and social security

1,858

1,767

Other creditors

483,497

12,544

488,976

17,932

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.8.22

31.8.21

£

£

Bank loans

10,560

14,181

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors is £14,788 due from the director which is interest free and repayable on demand.