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Registration number: 09488262

HSB Aviation Consulting Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

HSB Aviation Consulting Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

HSB Aviation Consulting Ltd

(Registration number: 09488262)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

205,771

197,868

Investments

6

77

77

Other financial assets

7

115,442

68,867

 

321,290

266,812

Current assets

 

Debtors

8

1,354,752

1,079,935

Cash at bank and in hand

 

879,793

947,055

 

2,234,545

2,026,990

Creditors: Amounts falling due within one year

9

(157,816)

(25,052)

Net current assets

 

2,076,729

2,001,938

Net assets

 

2,398,019

2,268,750

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,397,919

2,268,650

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:

The members have not required the company to obtain an audit of its accounts for the year 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.

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 director on 7 February 2024
 

.........................................
Dr H O A K Schaefer
Director

 

HSB Aviation Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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:
Old Lawn Binley Bottom
Binley
Andover
Hampshire
SP11 6EY
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 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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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.

3

Taxation

2023

2022

£

£

Corporation tax

37,099

21,265

4

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

HSB Aviation Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

197,399

470

1,514

199,383

Additions

-

10,693

-

10,693

At 31 March 2023

197,399

11,163

1,514

210,076

Depreciation

At 1 April 2022

-

470

1,045

1,515

Charge for the year

-

2,673

117

2,790

At 31 March 2023

-

3,143

1,162

4,305

Carrying amount

At 31 March 2023

197,399

8,020

352

205,771

At 31 March 2022

197,399

-

469

197,868

Included within the net book value of land and buildings above is £197,399 (2022 - £197,399) in respect of freehold land and buildings.
 

6

Investments

2023
£

2022
£

Investments in subsidiaries

77

77

Subsidiaries

£

Cost or valuation

At 1 April 2022

77

Provision

Carrying amount

At 31 March 2023

77

At 31 March 2022

77

 

HSB Aviation Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

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

Carrying amount

At 31 March 2023

115,442

115,442

8

Debtors

Current

2023
£

2022
£

Trade debtors

55,859

19,402

Other debtors

1,298,893

1,060,533

 

1,354,752

1,079,935

 

HSB Aviation Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

33,874

-

Taxation and social security

37,099

21,265

Other creditors

86,843

3,787

157,816

25,052

10

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

(158)

37,013

(119,140)

(82,285)

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Dr H O A K Schaefer

58,772

78,418

(137,348)

(158)