Blue Sky Finance (Cornwall) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07197414 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Blue Sky Finance (Cornwall) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Leach

Miss C Dyer

REGISTERED OFFICE:

Maritime House

Discovery Quay

Falmouth

Cornwall

TR11 3XA

REGISTERED NUMBER:

07197414 (England and Wales)

ACCOUNTANTS:

Briants Chartered Accountants

Maritime House

Discovery Quay

Falmouth

Cornwall

TR11 3XA

FIXED ASSETS

Tangible assets

4

2,963

3,944

CURRENT ASSETS

Debtors

5

773

1,108

Cash at bank

163,896

91,665

164,669

92,773

CREDITORS

Amounts falling due within one year

6

40,574

30,438

NET CURRENT ASSETS

124,095

62,335

TOTAL ASSETS LESS CURRENT LIABILITIES

127,058

66,279

PROVISIONS FOR LIABILITIES

593

789

NET ASSETS

126,465

65,490

CAPITAL AND RESERVES

Called up share capital

125

125

Share premium

100

100

Retained earnings

126,240

65,265

SHAREHOLDERS' FUNDS

126,465

65,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 14 November 2017 and were signed on its behalf by:

B Leach - Director

1.	STATUTORY INFORMATION

Blue Sky Finance (Cornwall) Ltd 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.

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 cost

Computer equipment

-

20% on reducing balance

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 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

4,356

1,932

6,288

DEPRECIATION

At 1 April 2016

2,011

333

2,344

Charge for year

661

320

981

At 31 March 2017

2,672

653

3,325

NET BOOK VALUE

At 31 March 2017

1,684

1,279

2,963

At 31 March 2016

2,345

1,599

3,944

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

500

500

Prepayments and accrued income

273

608

773

1,108

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

126

-

Tax

33,812

21,932

Social security and other taxes

406

356

Directors' current accounts

4,970

6,891

Accruals and deferred income

1,260

1,259

40,574

30,438