AIR COOLED AVIATION SERVICES LIMITED 13506557 false 2023-08-01 2024-03-31 2024-03-31 The principal activity of the company is aircraft maintenance and flying services Digita Accounts Production Advanced 6.30.9574.0 true true 13506557 2023-08-01 2024-03-31 13506557 2024-03-31 13506557 bus:OrdinaryShareClass1 2024-03-31 13506557 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13506557 core:FurnitureFittingsToolsEquipment 2024-03-31 13506557 bus:SmallEntities 2023-08-01 2024-03-31 13506557 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-03-31 13506557 bus:FilletedAccounts 2023-08-01 2024-03-31 13506557 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-03-31 13506557 bus:RegisteredOffice 2023-08-01 2024-03-31 13506557 bus:Director1 2023-08-01 2024-03-31 13506557 bus:OrdinaryShareClass1 2023-08-01 2024-03-31 13506557 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-03-31 13506557 bus:Agent1 2023-08-01 2024-03-31 13506557 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-03-31 13506557 countries:AllCountries 2023-08-01 2024-03-31 13506557 2023-07-31 13506557 core:FurnitureFittingsToolsEquipment 2023-07-31 13506557 2022-08-01 2023-07-31 13506557 2023-07-31 13506557 bus:OrdinaryShareClass1 2023-07-31 13506557 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 13506557 core:FurnitureFittingsToolsEquipment 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13506557

AIR COOLED AVIATION SERVICES LIMITED

Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 31 March 2024

 

AIR COOLED AVIATION SERVICES LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

AIR COOLED AVIATION SERVICES LIMITED

Company Information

Director

MR JAMES BRYANT

Registered office

64 CHELMSFORD ROAD
HOLLAND ON SEA
ESSEX
CO15 5DJ

Bankers

Mettle

Accountants

Jacques and Associates Ltd ICPA

64 CHELMSFORD ROAD
HOLLAND ON SEA
ESSEX
CO15 5DJ

 

AIR COOLED AVIATION SERVICES LIMITED

(Registration number: 13506557)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,725

2,317

Current assets

 

Stocks

5

6,000

-

Cash at bank and in hand

 

5,679

438

 

11,679

438

Creditors: Amounts falling due within one year

7

(3,501)

(3,069)

Net current assets/(liabilities)

 

8,178

(2,631)

Net assets/(liabilities)

 

10,903

(314)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

10,902

(315)

Shareholders' funds/(deficit)

 

10,903

(314)

For the financial period ending 31 March 2024 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 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.

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 18 April 2024
 

.........................................
MR JAMES BRYANT
Director

 

AIR COOLED AVIATION SERVICES LIMITED

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

1

General information

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

The address of its registered office is:
64 CHELMSFORD ROAD
HOLLAND ON SEA
ESSEX
CO15 5DJ

The principal place of business is:
2 MANSFIELD
HIGH WYCH
SAWBRIDGEWORTH
Hertfordshire
CM21 0JT

These financial statements were authorised for issue by the director on 18 April 2024.

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 sale of goods and 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

AIR COOLED AVIATION SERVICES LIMITED

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

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:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

AIR COOLED AVIATION SERVICES LIMITED

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

AIR COOLED AVIATION SERVICES LIMITED

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

3,088

3,088

Additions

1,316

1,316

At 31 March 2024

4,404

4,404

Depreciation

At 1 August 2023

771

771

Charge for the period

908

908

At 31 March 2024

1,679

1,679

Carrying amount

At 31 March 2024

2,725

2,725

At 31 July 2023

2,317

2,317

5

Stocks

2024
£

2023
£

Other inventories

6,000

-

6

Debtors

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,115

2,712

Accruals and deferred income

163

163

Other creditors

223

194

3,501

3,069

8

Share capital

Allotted, called up and fully paid shares

 

AIR COOLED AVIATION SERVICES LIMITED

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

Interim dividend of £Nil (2023 - £13,000.00) per ordinary share

-

13,000

-

13,000

 

 

10

Related party transactions

 

AIR COOLED AVIATION SERVICES LIMITED

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

2023
£

Remuneration

13,000

6,146