Hawk Air Limited 14221736 true 2022-07-07 2023-07-31 2023-07-31 The principal activity of the company is non-scheduled passenger air transport and education. Digita Accounts Production Advanced 6.30.9574.0 true C Hawkins true 14221736 2022-07-07 2023-07-31 14221736 2023-07-31 14221736 core:ShareCapital 2023-07-31 14221736 core:CurrentFinancialInstruments 2023-07-31 14221736 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 14221736 bus:FRS102 2022-07-07 2023-07-31 14221736 bus:AuditExempt-NoAccountantsReport 2022-07-07 2023-07-31 14221736 bus:FullAccounts 2022-07-07 2023-07-31 14221736 bus:RegisteredOffice 2022-07-07 2023-07-31 14221736 bus:Director1 2022-07-07 2023-07-31 14221736 bus:EntityHasNeverTraded 2022-07-07 2023-07-31 14221736 bus:Consolidated 2022-07-07 2023-07-31 14221736 bus:PrivateLimitedCompanyLtd 2022-07-07 2023-07-31 14221736 countries:EnglandWales 2022-07-07 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 14221736

Hawk Air Limited

Annual Report and Unaudited Financial Statements

for the Period from 7 July 2022 to 31 July 2023

 

Hawk Air Limited

(Registration number: 14221736)
Balance Sheet as at 31 July 2023

Note

2023
£

Current assets

 

Debtors

4

100

Cash at bank and in hand

 

2,205

 

2,305

Creditors: Amounts falling due within one year

(2,205)

Net assets

 

100

Capital and reserves

 

Called up share capital

100

Shareholders' funds

 

100

For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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.

Approved and authorised by the director on 4 April 2024
 


C Hawkins
Director

 

Hawk Air Limited

Notes to the Unaudited Financial Statements

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
29b Nine Mile Ride
Finchampstead
Wokingham
Berkshire
RG40 4QD
England

2

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies..

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

 

Hawk Air Limited

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Debtors

2023
£

Other debtors

100

100

5

Loans and borrowings

2023
£

Current loans and borrowings

Other borrowings

2,205

6

Related party transactions

Summary of transactions with other related parties

At 31 July 2023, the company was owed £2,205 by the director in the form of a director's loan account. The loan is unsecured, interest free and repayable on demand.