Blue Skies Ptnrs Holdings Limited Filleted accounts for Companies House (small and micro)

BLUE SKIES PTNRS HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11905440

Blue Skies Ptnrs Holdings Limited

Filleted Unaudited Financial Statements

31 March 2023

Blue Skies Ptnrs Holdings Limited

Balance Sheet

31 March 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	587,781	587,407

Current assets

Debtors	6	396	182
Investments	7	100	8
Cash at bank and in hand		144,215	160,980
		---------	---------
		144,711	161,170

Creditors: amounts falling due within one year	8	5,719	5,778
		---------	---------
Net current assets		138,992	155,392
		---------	---------
Total assets less current liabilities		726,773	742,799
		---------	---------
Net assets		726,773	742,799
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	726,673	742,699
	---------	---------
Shareholders funds	726,773	742,799
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Blue Skies Ptnrs Holdings Limited

Balance Sheet (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 14 November 2023 , and are signed on behalf of the board by:

S K Sykes

Director

Company registration number: 11905440

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.And the option not to file the Profit and Loss Account has been taken.

Blue Skies Ptnrs Holdings Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Skyview House, 10 St Neots Road, Sandy, Beds, SG19 1LB, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 and as such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. During the period in questions, apart from those involving estimations, the management has made no judgements or uncertain policy, within the process of applying the entity's accounting policies.

Taxation

Taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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.

Operating leases

Rent is charged quarterly at £7,500 to The Blue Skies Partnership (Universe) Limited. Lease income is recognised in the profit or loss.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. During the period in review, no assets were revalued, meaning no change in the carrying amount of an asset.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Freehold property	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2022	571,450	15,750	828	588,028
Additions	–	–	790	790
	---------	--------	-------	---------
At 31 March 2023	571,450	15,750	1,618	588,818
	---------	--------	-------	---------
Depreciation
At 1 April 2022	–	–	621	621
Charge for the year	–	–	416	416
	---------	--------	-------	---------
At 31 March 2023	–	–	1,037	1,037
	---------	--------	-------	---------
Carrying amount
At 31 March 2023	571,450	15,750	581	587,781
	---------	--------	-------	---------
At 31 March 2022	571,450	15,750	207	587,407
	---------	--------	-------	---------

6. Debtors

	2023	2022
	£	£
Other debtors	396	182
	----	----

7. Investments

	2023	2022
	£	£
Investments in group undertakings	100	8
	----	----

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Social security and other taxes	471	292
Other creditors	5,248	5,486
	-------	-------
	5,719	5,778
	-------	-------

9. Directors' advances, credits and guarantees

Amounts of £2,006 (2022: £339) were advanced interest free, and repayable on demand, by the directors during the period. At the year end, £248 was owed by the company to the directors (2022: £486 was owed by the company or directors).

10. Related party transactions

The Blue Skies Partnership (Universe) Limited A Company in which Mr S K Sykes is a director and Blue Skies Ptnrs Holdings Limited are the shareholders. Total monies invoiced for rent to The Blue Skies Partnership (Universe) Limited in the year was £30,000. There were no invoices from The Blue Skies Partnership (Universe) Limited to Blue Skies Ptnrs Holdings Limited. During the year, total dividends of £24,231 were paid to Blue Skies Ptnrs Holdings Limited from The Blue Skies Partnership (Universe) Limited. During the year, total dividends of £38,465 were paid to the director Mr S K Sykes from Blue Skies Ptnrs Holdings Limited.