Bluesky Modasport Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04053144 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 December 2019

for

Bluesky Modasport Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

D L Smith

REGISTERED OFFICE:

Charnwood House

Harcourt Way

Meridian Business Park

Leicestershire

LE19 1WP

REGISTERED NUMBER:

04053144 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Bluesky Modasport Limited for the year ended 31 December 2019

which comprise the Income Statement, Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Bluesky Modasport Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bluesky Modasport Limited and state those matters that we have agreed to state to the director of Bluesky Modasport Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bluesky Modasport Limited and its director for our work or for this report.

It is your duty to ensure that Bluesky Modasport Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bluesky Modasport Limited. You consider that Bluesky Modasport Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bluesky Modasport Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

15 May 2020

FIXED ASSETS

Tangible assets

4

11,017

4,014

CURRENT ASSETS

Debtors

5

15,730

15,902

Cash at bank

77,414

65,170

93,144

81,072

CREDITORS

Amounts falling due within one year

6

15,650

16,382

NET CURRENT ASSETS

77,494

64,690

TOTAL ASSETS LESS CURRENT LIABILITIES

88,511

68,704

PROVISIONS FOR LIABILITIES

-

265

NET ASSETS

88,511

68,439

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

88,509

68,437

SHAREHOLDERS' FUNDS

88,511

68,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 15 May 2020 and were signed by:

D L Smith - Director

1.	STATUTORY INFORMATION

Bluesky Modasport 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.

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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in

arriving at the operating result.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

19,875

8,796

6,889

35,560

Additions

-

10,000

-

10,000

Disposals

-

(8,796

)

-

(8,796

)

At 31 December 2019

19,875

10,000

6,889

36,764

DEPRECIATION

At 1 January 2019

19,762

8,796

2,988

31,546

Charge for year

60

833

2,104

2,997

Eliminated on disposal

-

(8,796

)

-

(8,796

)

At 31 December 2019

19,822

833

5,092

25,747

NET BOOK VALUE

At 31 December 2019

53

9,167

1,797

11,017

At 31 December 2018

113

-

3,901

4,014

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Sales reserves

2,467

5,214

Other debtors

11,300

6,300

VAT

-

1,871

Deferred tax asset

91

-

Prepayments and accrued income

1,872

2,517

15,730

15,902

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Corporation tax

5,051

8,264

Social security and other taxes

1,985

808

VAT

2,186

-

Directors' current accounts

287

-

Accruals and deferred income

6,141

7,310

15,650

16,382

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

2

Ordinary

£1

2

2