REGISTERED NUMBER: |
Blue Sky Ceramics Ltd |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
REGISTERED NUMBER: |
Blue Sky Ceramics Ltd |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
Blue Sky Ceramics Ltd (Registered number: 11796730) |
Contents of the Financial Statements |
for the year ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Blue Sky Ceramics Ltd |
Company Information |
for the year ended 31 January 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
178 Buckingham Avenue |
Slough |
Berkshire |
SL1 4RD |
Blue Sky Ceramics Ltd (Registered number: 11796730) |
Balance Sheet |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Stocks |
Debtors | 4 |
Creditors |
Amounts falling due within one year | 5 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Retained earnings |
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. |
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 and authorised for issue on |
Blue Sky Ceramics Ltd (Registered number: 11796730) |
Notes to the Financial Statements |
for the year ended 31 January 2023 |
1. | Statutory information |
Blue Sky Ceramics Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provision of Section 102 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 on a going concern basis, under the historical cost convention. |
The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound. |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. This assessment has been made for a period of twelve months from the date of approving these financial statements. |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. There are no further significant judgements or estimates. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents amounts receivable for goods and services provided in the year and is stated net of VAT. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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. |
Blue Sky Ceramics Ltd (Registered number: 11796730) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2023 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
VAT |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
VAT | 375 | - |
Directors' current accounts | 15,657 | 156,099 |
Accruals and deferred income |
6. | Directors' advances, credits and guarantees |
Included within creditors at the year end is an amount of £15,657 (2022 - £156,099) owed to a director. |
7. | Ultimate controlling party |
A J Moorcroft and NL Moorcroft are the ultimate controlling party by virtue of their shareholdings in the company. |