Skytrader Limited ABBREVIATED ACCOUNTS COVER
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Company No. 03330309
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Skytrader Limited AUDIT REPORT UNQUALIFIED ABBREVIATED ACCOUNTS
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Independent Auditor's Report to the member of Skytrader Limited under section 449 of the Companies Act 2006
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We have examined the abbreviated accounts, which comprise the abbreviated balance sheet and the related notes, together with the accounts of Skytrader Limited for the year ended 31 March 2016 prepared under section 396 of the Companies Act 2006.
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This report is made solely to the company's members, as a body, in accordance with section 449 of the Companies Act 2006. Our work has been undertaken so that we might state to the company's members those matters we are required to state to them in a special auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our work, for this report, or for the opinions we have formed.
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Respective responsibilities of directors and auditors
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The directors are responsible for the preparation of the abbreviated accounts in accordance with section 444 of the Companies Act 2006. It is our responsibility to form an independent opinion as to whether the company is entitled to deliver abbreviated accounts to the Registrar of Companies and whether the abbreviated accounts have been properly prepared in accordance with the regulations made under that section and to report our opinion to you.
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We conducted our work in accordance with Bulletin 2008/4 issued by the Auditing Practices Board. In accordance with that Bulletin we have carried out the procedures we considered necessary to confirm, by reference to the full accounts, that the company is entitled to deliver abbreviated accounts and that the abbreviated accounts are properly prepared.
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Opinion
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In our opinion the company is entitled to deliver abbreviated accounts prepared in accordance with section 444 (3) of the Companies Act 2006 and the abbreviated accounts have been properly prepared in accordance with the regulations made under that section.
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Senior Statutory Auditor
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For and on behalf of TABS Limited
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Statutory Auditor, Accountants
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Station Avenue
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Tile Hill Village
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Coventry
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CV4 9HR
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09 November 2016
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Skytrader Limited ABBREVIATED BALANCE SHEET
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at
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Company No.
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Notes
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2016
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2015
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£
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£
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Fixed assets
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Tangible assets
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2
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Current assets
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Debtors
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Cash at bank and in hand
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Creditors: Amounts falling due within one year
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(
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(
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Net current assets
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Total assets less current liabilities
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Net assets
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Capital and reserves
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Called up share capital
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3
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Profit and loss account
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Shareholder's funds
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Approved by the board on 09 November 2016
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And signed on its behalf by:
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R. Harrison
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Director
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09 November 2016
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Skytrader Limited NOTES TO THE ABBREVIATED ACCOUNTS
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for the year ended 31 March 2016
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1
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Accounting policies
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Basis of preparation
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Turnover
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Tangible fixed assets and depreciation
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
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Furniture, fittings and equipment
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Freehold investment property
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This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that, because these properties are not held for consumption, but for their investment potential it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view. |
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Intangible fixed assets and amortisation
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Stocks
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Deferred taxation
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Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based upon current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted. |
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Research and development
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Foreign currencies
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Transactions in foreign currencies are recorded in sterling using the exchange rate ruling at the date of the transaction. Exchange differences are are taken into account in arriving at the operating profit. |
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Leased assets
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Pension costs
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2
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Fixed assets
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Tangible fixed assets
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Total
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£
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£
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Cost or revaluation
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At 1 April 2015
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14,744
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Additions
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327
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Disposals
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(
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(12,807)
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At 31 March 2016
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2,264
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Amortisation
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At 1 April 2015
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13,588
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Charge for the year
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253
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Disposals
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(
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(12,329)
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At 31 March 2016
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1,512
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Net book values
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At 31 March 2016
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752
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At 31 March 2015
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1,156
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3
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Share Capital
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Nominal value
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2016
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2016
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2015
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£
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Number
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£
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£
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Allotted, called up and fully paid:
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2
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2
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