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REGISTERED NUMBER: 02316129 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED

FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED (REGISTERED NUMBER: 02316129)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: P G Argyle
S P Argyle





REGISTERED OFFICE: Suite 6F
Gatwick House
Peeks Brook Lane
Horley
Surrey
RH6 9ST





REGISTERED NUMBER: 02316129 (England and Wales)





AUDITORS: Parkers
Chartered Accountants and Statutory Auditors
178-180 Church Road
Hove, East Sussex
BN3 2DJ

FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED (REGISTERED NUMBER: 02316129)

BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,186 10,371

CURRENT ASSETS
Debtors 5 265,121 192,774
Cash at bank and in hand 531,076 405,176
796,197 597,950
CREDITORS
Amounts falling due within one year 6 425,565 423,606
NET CURRENT ASSETS 370,632 174,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

381,818

184,715

CREDITORS
Amounts falling due after more than one
year

7

15,833

25,833
NET ASSETS 365,985 158,882

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 345,985 138,882
SHAREHOLDERS' FUNDS 365,985 158,882

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd March 2024 and were signed on its behalf by:





S P Argyle - Director


FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED (REGISTERED NUMBER: 02316129)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Flight Directors Scheduled Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover comprises the net value of sales of services excluding Value Added Tax. Turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - at varying rates on cost
Fixtures and fittings - 15% on cost

Financial instruments
The company only enters into basic financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED (REGISTERED NUMBER: 02316129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st November 2022 73,671
Additions 7,069
At 31st October 2023 80,740
DEPRECIATION
At 1st November 2022 63,300
Charge for year 6,254
At 31st October 2023 69,554
NET BOOK VALUE
At 31st October 2023 11,186
At 31st October 2022 10,371

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 54,289 47,357
Other debtors 194,691 121,591
248,980 168,948

Amounts falling due after more than one year:
Other debtors 16,141 23,826

Aggregate amounts 265,121 192,774

FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED (REGISTERED NUMBER: 02316129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 259,095 246,829
Amounts owed to group undertakings - 63,918
Taxation and social security 80,112 30,652
Other creditors 76,358 72,207
425,565 423,606

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,833 25,833

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Annette Watson PhD BSc FCA (Senior Statutory Auditor)
for and on behalf of Parkers

9. CONTINGENT LIABILITIES

The company has entered into a bank cross guarantee with its parent company Alternative Airlines Limited on which the potential liability was £NIL as at the balance sheet date.

The following guarantees were in place a the year end:-
Air Niugini £15,000 (2022:£15,000)
Royal Brunei £20,000 (2022: £20,000)
Rwandair £50,000 (2022: £32,300)

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

2023 2022
£    £   
P G Argyle
Balance outstanding at start of year 63,918 94,685
Amounts repaid (10,597 ) (30,767 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,321 63,918

No interest was charged on the directors loan and the loan is repayable on demand.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

FLIGHT DIRECTORS SCHEDULED SERVICES
LIMITED (REGISTERED NUMBER: 02316129)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

12. ULTIMATE CONTROLLING PARTY

The company's ultimate parent company is Alternative Airlines Limited. Its registered office address is Suite 6F, Gatwick House, Peeks Brook Lane, Horley, Surrey, England, RH6 9ST.