Company Registration No. 12495263 (England and Wales)
Global Aviation Consultancy Ltd
Unaudited accounts
for the year ended 28 February 2023
Global Aviation Consultancy Ltd
Unaudited accounts
Contents
Global Aviation Consultancy Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
374,121
14,348
Cash at bank and in hand
832,306
840,755
Creditors: amounts falling due within one year
(2,034,017)
(948,994)
Net current (liabilities)/assets
(332,496)
27,395
Total assets less current liabilities
41,625
41,743
Creditors: amounts falling due after more than one year
(23,500)
(34,500)
Provisions for liabilities
Deferred tax
(1,970)
(2,726)
Called up share capital
5
5
Profit and loss account
16,150
4,512
Shareholders' funds
16,155
4,517
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by
Jason Green
Director
Company Registration No. 12495263
Global Aviation Consultancy Ltd
Notes to the Accounts
for the year ended 28 February 2023
Global Aviation Consultancy Ltd is a private company, limited by shares, registered in England and Wales, registration number 12495263. The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Computer equipment
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Global Aviation Consultancy Ltd
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
-
6,489
12,448
18,937
Additions
1,971
389,633
2,703
394,307
At 28 February 2023
1,971
396,122
15,151
413,244
At 1 March 2022
-
1,622
2,967
4,589
Charge for the year
123
30,889
3,522
34,534
At 28 February 2023
123
32,511
6,489
39,123
At 28 February 2023
1,848
363,611
8,662
374,121
At 28 February 2022
-
4,867
9,481
14,348
Amounts falling due within one year
Trade debtors
363,929
25,060
Accrued income and prepayments
-
5,000
Other debtors
114,703
97,171
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,000
8,014
Trade creditors
1,597,440
493,583
Taxes and social security
12,539
14,434
Other creditors
415,038
393,186
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).