Registration number:
HSB Aviation Consulting Ltd
for the Year Ended 31 March 2023
HSB Aviation Consulting Ltd
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
HSB Aviation Consulting Ltd
(Registration number: 09488262)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investments |
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|
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Other financial assets |
115,442 |
68,867 |
|
|
|
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Current assets |
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Debtors |
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|
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Cash at bank and in hand |
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|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
|
Retained earnings |
2,397,919 |
2,268,650 |
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Shareholders' funds |
2,398,019 |
2,268,750 |
HSB Aviation Consulting Ltd
(Registration number: 09488262)
Balance Sheet as at 31 March 2023
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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HSB Aviation Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax payable.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
HSB Aviation Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% reducing balance basis |
Furniture and fittings |
25% reducing balance basis |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Taxation |
2023 |
2022 |
||
£ |
£ |
||
Corporation tax |
37,099 |
21,265 |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
HSB Aviation Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Tangible assets |
Land and buildings |
Fixtures and fittings |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2022 |
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|
|
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Additions |
- |
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- |
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At 31 March 2023 |
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|
|
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Depreciation |
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At 1 April 2022 |
- |
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Charge for the year |
- |
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At 31 March 2023 |
- |
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|
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
|
- |
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Included within the net book value of land and buildings above is £197,399 (2022 - £197,399) in respect of freehold land and buildings.
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2022 |
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Provision |
|
Carrying amount |
|
At 31 March 2023 |
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At 31 March 2022 |
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HSB Aviation Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
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Cost or valuation |
||
At 1 April 2022 |
68,867 |
68,867 |
Additions |
46,575 |
46,575 |
At 31 March 2023 |
115,442 |
115,442 |
Impairment |
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Carrying amount |
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At 31 March 2023 |
|
115,442 |
Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Other debtors |
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|
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HSB Aviation Consulting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
|
- |
Taxation and social security |
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Other creditors |
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Related party transactions |
Transactions with the director |
2023 |
At 1 April 2022 |
Advances to director |
Repayments by director |
At 31 March 2023 |
Dr H O A K Schaefer |
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|
( |
|
( |
( |
2022 |
At 1 April 2021 |
Advances to director |
Repayments by director |
At 31 March 2022 |
Dr H O A K Schaefer |
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( |
( |