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REGISTERED NUMBER: 02100896 (England and Wales)















ASSOCIATED AIR SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






ASSOCIATED AIR SERVICES LIMITED (REGISTERED NUMBER: 02100896)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASSOCIATED AIR SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: L Russell
C Russell





REGISTERED OFFICE: 3 Skyport Drive
Harmondsworth
West Drayton
UB7 0LB





REGISTERED NUMBER: 02100896 (England and Wales)





ACCOUNTANTS: UHA Limited T/A UH Accountants
Cole Street Studios
6-8 Cole Street
London
SE1 4YH

ASSOCIATED AIR SERVICES LIMITED (REGISTERED NUMBER: 02100896)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,796 79,394

CURRENT ASSETS
Debtors 5 463,974 436,459
Cash at bank and in hand 352,949 696,788
816,923 1,133,247
CREDITORS
Amounts falling due within one year 6 531,009 435,220
NET CURRENT ASSETS 285,914 698,027
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,710

777,421

PROVISIONS FOR LIABILITIES 20,472 19,849
NET ASSETS 347,238 757,572

CAPITAL AND RESERVES
Called up share capital 33,000 33,000
Share premium 949 949
Capital redemption reserve 20,200 20,200
Retained earnings 293,089 703,423
347,238 757,572

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.

ASSOCIATED AIR SERVICES LIMITED (REGISTERED NUMBER: 02100896)

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 13 October 2023 and were signed on its behalf by:





L Russell - Director


ASSOCIATED AIR SERVICES LIMITED (REGISTERED NUMBER: 02100896)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Associated Air Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 25 (2022 - 26 ) .

ASSOCIATED AIR SERVICES LIMITED (REGISTERED NUMBER: 02100896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 190,530
Additions 29,160
Disposals (10,142 )
At 31 March 2023 209,548
DEPRECIATION
At 1 April 2022 111,136
Charge for year 35,608
Eliminated on disposal (18,992 )
At 31 March 2023 127,752
NET BOOK VALUE
At 31 March 2023 81,796
At 31 March 2022 79,394

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 397,350 383,184
Other debtors 66,624 53,275
463,974 436,459

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 301,164 225,076
Taxation and social security 127,372 148,361
Other creditors 102,473 61,783
531,009 435,220

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 98,800 98,800
Between one and five years 115,267 214,067
214,067 312,867