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REGISTERED NUMBER: 07956364 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Commission Air Limited

Commission Air Limited (Registered number: 07956364)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Commission Air Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr G M Richardson
Mrs G L Richardson





REGISTERED OFFICE: Lancaster House
Lancaster Way
Market Deeping
Peterborough
PE6 8LA





REGISTERED NUMBER: 07956364 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Commission Air Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Commission Air Limited for the year ended 31 March 2023 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 Board of Directors of Commission Air Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Commission Air Limited and state those matters that we have agreed to state to the Board of Directors of Commission Air Limited, as a body, 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 Commission Air Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Commission Air 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 Commission Air Limited. You consider that Commission Air 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 Commission Air 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


4 October 2023

Commission Air Limited (Registered number: 07956364)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 388,891 375,829
388,891 375,829

CURRENT ASSETS
Debtors 6 262,486 282,992
Cash at bank and in hand 79,227 66,762
341,713 349,754
CREDITORS
Amounts falling due within one year 7 194,177 108,716
NET CURRENT ASSETS 147,536 241,038
TOTAL ASSETS LESS CURRENT LIABILITIES 536,427 616,867

CREDITORS
Amounts falling due after more than one year 8 (41,306 ) (60,151 )

PROVISIONS FOR LIABILITIES (73,889 ) (71,408 )
NET ASSETS 421,232 485,308

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 421,230 485,306
SHAREHOLDERS' FUNDS 421,232 485,308

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Commission Air Limited (Registered number: 07956364)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:




Mrs G L Richardson - Director



Mr G M Richardson - Director


Commission Air Limited (Registered number: 07956364)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Commission Air 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 4 years
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 profit or loss 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 13 (2022 - 12 ) .

Commission Air Limited (Registered number: 07956364)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 750,000
AMORTISATION
At 1 April 2022
and 31 March 2023 750,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 44,086 1,963 35,888 599,142 681,079
Additions - 4,641 - 56,348 60,989
At 31 March 2023 44,086 6,604 35,888 655,490 742,068
DEPRECIATION
At 1 April 2022 34,764 1,504 7,224 261,758 305,250
Charge for year 2,753 461 7,166 37,547 47,927
At 31 March 2023 37,517 1,965 14,390 299,305 353,177
NET BOOK VALUE
At 31 March 2023 6,569 4,639 21,498 356,185 388,891
At 31 March 2022 9,322 459 28,664 337,384 375,829

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 35,888
DEPRECIATION
At 1 April 2022 7,224
Charge for year 7,166
At 31 March 2023 14,390
NET BOOK VALUE
At 31 March 2023 21,498
At 31 March 2022 28,664

Commission Air Limited (Registered number: 07956364)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 130,450 118,593
Other debtors 132,036 164,399
262,486 282,992

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 76,667 10,000
Hire purchase contracts 8,845 8,475
Trade creditors 26,805 15,496
Taxation and social security 76,359 68,271
Other creditors 5,501 6,474
194,177 108,716

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,000 40,000
Hire purchase contracts 11,306 20,151
41,306 60,151

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mrs G L Richardson
Balance outstanding at start of year 75,918 54,577
Amounts advanced 57,406 76,341
Amounts repaid (76,500 ) (55,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 56,824 75,918

Mr G M Richardson
Balance outstanding at start of year 75,919 54,578
Amounts advanced 95,354 76,341
Amounts repaid (101,500 ) (55,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,773 75,919

Commission Air Limited (Registered number: 07956364)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. RELATED PARTY DISCLOSURES

Mr G M and Mrs G L Richardson, directors, were paid £20,000 (2022: £20,000) rent for the offices used by the company.