Company registration number 09300847 (England and Wales)
SKYTRAIL CONSULTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
SKYTRAIL CONSULTING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SKYTRAIL CONSULTING LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2022
30 November 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,505
8,727
Current assets
Debtors
4
323,711
138,289
Cash at bank and in hand
35,757
2,681
359,468
140,970
Creditors: amounts falling due within one year
5
(126,498)
(51,946)
Net current assets
232,970
89,024
Total assets less current liabilities
239,475
97,751
Provisions for liabilities
(1,236)
(1,658)
Net assets
238,239
96,093
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
238,139
95,993
Total equity
238,239
96,093
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 August 2023
Samuel Imevbore
Director
Company Registration No. 09300847
SKYTRAIL CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 2 -
1
Accounting policies
Company information
Skytrail Consulting Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 316 Westwood Heath Road, Coventry, West Mdilands, UK, CV4 8GP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
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.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
SKYTRAIL CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
1
Accounting policies
(Continued)
- 3 -
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021
26,422
Additions
2,998
At 30 November 2022
29,420
Depreciation and impairment
At 1 December 2021
17,695
Depreciation charged in the year
5,220
At 30 November 2022
22,915
Carrying amount
At 30 November 2022
6,505
At 30 November 2021
8,727
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
27,420
10,079
Other debtors
296,291
128,210
323,711
138,289
SKYTRAIL CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 4 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
106,190
39,112
Other taxation and social security
20,074
12,613
Other creditors
234
221
126,498
51,946
6
Director's Advances, Credit and Guarantees
The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2022:
2022 2021
Samuel Imevbore £ £
Balance outstanding at start of period 94,520 54,220
Amounts advanced 126,556 94,520
Amounts repaid - (54,,220)
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 221,076 94,520
The loan is unsecured, interest is charged at 2% per annum and loan is repayable on demand.
7
Ultimate Controlling Pasrty
The controlling party is Samuel Imevbore.