Company No:
Contents
Note | 31.12.2023 | 31.08.2022 | ||
€ | € | |||
Fixed assets | ||||
Investments | 3 |
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298,548 | 109,777 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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223,489 | 2,409 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets/(liabilities) | 105,691 | (115,312) | ||
Total assets less current liabilities | 404,239 | (5,535) | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of Aircash Int Limited (registered number:
H Ćosić
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
Aircash Int Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in EUR which is the functional currency of the Company and rounded to the nearest €.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of €31,408. The Company is supported through loans from group undertakings. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Affiliate Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Reporting period length is 16 months, last period end 31/08/2022. As of 01/01/2024 the reporting period will be 12 months.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Investments are recognised initially at cost which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Period from 01.09.2022 to 31.12.2023 |
Period from 02.08.2021 to 31.08.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Investments in subsidiaries
31.12.2023 | |
€ | |
Cost | |
At 01 September 2022 |
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Additions |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 August 2022 |
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31.12.2023 | 31.08.2022 | ||
€ | € | ||
Trade debtors |
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Prepayments |
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31.12.2023 | 31.08.2022 | ||
€ | € | ||
Trade creditors |
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Amounts owed to connected persons |
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Amounts owed to directors |
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Accruals |
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31.12.2023 | 31.08.2022 | ||
€ | € | ||
Amounts owed to Group undertakings |
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31.12.2023 | 31.08.2022 | ||
€ | € | ||
Allotted, called-up and fully-paid | |||
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Included within creditors due within one year are amounts owed by one of the directors amounting to €74,288 (2022: €74,288). This loan was unsecured, interest-free and repayable on demand.
Also included within creditors due within one year are amounts owed by a shareholder amounting to €39,246 (2022: €39,246).
Included within creditors due more than one year are amounts owed by a related company amounting to €435,647 (2022: €3,990). This loan was unsecured, interest charged on an annual basis and to be repaid within 3-5 years.
Analysis of the maturity of other loans is given below:
31.12.2023 | 31.08.2022 | ||
€ | € | ||
Amounts falling due within one year | 0 | 0 | |
Amounts falling due 1-2 years | 0 | 0 | |
Amounts falling due 2-5 years | 435,647 | 3,990 | |
435,647 | 3,990 |