Skibo Technologies Ltd. - Accounts to registrar - small 17.1

REGISTERED NUMBER: SC216869 (Scotland)

Unaudited Financial Statements

for the Period 1 April 2016 to 28 February 2017

for

Skibo Technologies Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Mair

D M Greenwood

S Davidson

SECRETARY:

Burness Paul LLP

REGISTERED OFFICE:

Union Plaza

(6th Floor)

1 Union Wynd

Aberdeen

AB10 1DG

REGISTERED NUMBER:

SC216869 (Scotland)

ACCOUNTANTS:

Walker Harris

Chartered Accountants

27 St David Street

Brechin

ANGUS

DD9 6EG

FIXED ASSETS

Tangible assets

4

16,731

16,710

CURRENT ASSETS

Debtors

5

169,784

234,428

Cash in hand

159

54

169,943

234,482

CREDITORS

Amounts falling due within one year

6

134,879

177,204

NET CURRENT ASSETS

35,064

57,278

TOTAL ASSETS LESS CURRENT LIABILITIES

51,795

73,988

PROVISIONS FOR LIABILITIES

-

5,450

NET ASSETS

51,795

68,538

CAPITAL AND RESERVES

Called up share capital

666

666

Share premium

37,209

37,209

Capital redemption reserve

625

625

Retained earnings

13,295

30,038

SHAREHOLDERS' FUNDS

51,795

68,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 April 2017 and were signed on its behalf by:

M Mair - Director

1.	STATUTORY INFORMATION

Skibo Technologies Ltd. is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

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 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.

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 period was 13 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

36,043

15,837

51,880

Additions

-

4,417

4,417

At 28 February 2017

36,043

20,254

56,297

DEPRECIATION

At 1 April 2016

26,508

8,662

35,170

Charge for period

1,745

2,651

4,396

At 28 February 2017

28,253

11,313

39,566

NET BOOK VALUE

At 28 February 2017

7,790

8,941

16,731

At 31 March 2016

9,535

7,175

16,710

5.

DEBTORS

28.2.17

31.3.16

£

£

Amounts falling due within one year:

Trade debtors

134,416

200,720

Other debtors

35,368

29,368

169,784

230,088

Amounts falling due after more than one year:

Other debtors

-

4,340

Aggregate amounts

169,784

234,428

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

31.3.16

£

£

Bank loans and overdrafts

51,484

47,413

Trade creditors

49,830

68,513

Taxation and social security

24,648

48,476

Other creditors

8,917

12,802

134,879

177,204