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COMPANY REGISTRATION NUMBER: 05915890
Archipelago Azores Flights Limited
Filleted Unaudited Financial Statements
31 December 2023
Archipelago Azores Flights Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
33,078
126,085
Cash at bank and in hand
110
13,695
--------
---------
33,188
139,780
Creditors: amounts falling due within one year
5
11,085
105,650
--------
---------
Net current assets
22,103
34,130
--------
--------
Total assets less current liabilities
22,103
34,130
Creditors: amounts falling due after more than one year
6
21,054
32,130
--------
--------
Net assets
1,049
2,000
--------
--------
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
( 951)
-------
-------
Shareholders funds
1,049
2,000
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Archipelago Azores Flights Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 15 April 2024 , and are signed on behalf of the board by:
Mr I J Coates
Mrs S Bennett
Director
Director
Company registration number: 05915890
Archipelago Azores Flights Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1b Museum Square, Keswick, Cumbria, CA12 5DZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents amounts receivable for flights and transport costs sold to the parent company net of Value Added Tax and trade discounts.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
33,078
Other debtors
126,085
--------
---------
33,078
126,085
--------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
11,085
10,811
Amounts owed to group undertakings and undertakings in which the company has a participating interest
94,839
--------
---------
11,085
105,650
--------
---------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,054
32,130
--------
--------