Skyminers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08928636 (England and Wales)

SKYMINERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mr R S Curtis

REGISTERED OFFICE:

The Gables

Bishop Meadow Road

Loughborough

Leicestershire

LE11 5RE

BUSINESS ADDRESS:

10 Rushcliffe Grove

East Leake

Loughborough

Leicestershire

LE12 6JN

REGISTERED NUMBER:

08928636 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

The Gables

Bishop Meadow Road

Loughborough

Leicestershire

LE11 5RE

FIXED ASSETS

Property, plant and equipment

4

25,885

16,703

CURRENT ASSETS

Debtors

5

59,020

48,473

Cash at bank

112,080

73,083

171,100

121,556

CREDITORS

Amounts falling due within one year

6

137,002

95,027

NET CURRENT ASSETS

34,098

26,529

TOTAL ASSETS LESS CURRENT LIABILITIES

59,983

43,232

PROVISIONS FOR LIABILITIES

4,918

2,840

NET ASSETS

55,065

40,392

CAPITAL AND RESERVES

Called up share capital

7

10

10

Retained earnings

55,055

40,382

SHAREHOLDERS' FUNDS

55,065

40,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 23 September 2020 and were signed by:

Mr R S Curtis - Director

1.	STATUTORY INFORMATION

Skyminers 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 financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

The policies have been consistently applied to all years presented unless otherwise stated.

The financial statements cover the individual entity.

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.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Property, plant & equipment

Property, plant & equipment assets are held at cost less accumulated depreciation. Depreciation is provided at

the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery 25% Reducing balance basis

Motor Vehicles 25% Reducing balance basis

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial

position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the

shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The

capital element of the future payments is treated as a liability.

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 year was 2 (2019 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2019

45,170

Additions

20,663

Disposals

(11,472

)

At 31 March 2020

54,361

DEPRECIATION

At 1 April 2019

28,467

Charge for year

8,627

Eliminated on disposal

(8,618

)

At 31 March 2020

28,476

NET BOOK VALUE

At 31 March 2020

25,885

At 31 March 2019

16,703

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

51,020

41,093

Other debtors

8,000

7,380

59,020

48,473

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Deferred income

14,197

17,288

Trade creditors

1,415

-

Taxation and social security

38,659

27,224

Other creditors

82,731

50,515

137,002

95,027

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

10

Ordinary

£1

10

10

8.	RELATED PARTY DISCLOSURES

At the year end £64,807 (2019 £36,495) was owing to the director. Interest of 6% is paid on the loan.