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Registered number: 02810452
Skytech Aviation Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Jupp Castle Limited
ACCA
5 Taplins Court
Taplins Farm Lane
Hartley Wintney
RG27 8XU
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02810452
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,818 3,324
3,818 3,324
CURRENT ASSETS
Debtors 5 145,890 127,260
Cash at bank and in hand 335,080 506,490
480,970 633,750
Creditors: Amounts Falling Due Within One Year 6 (183,825 ) (256,046 )
NET CURRENT ASSETS (LIABILITIES) 297,145 377,704
TOTAL ASSETS LESS CURRENT LIABILITIES 300,963 381,028
NET ASSETS 300,963 381,028
CAPITAL AND RESERVES
Called up share capital 7 6,000 6,000
Capital redemption reserve 3,000 3,000
Profit and Loss Account 291,963 372,028
SHAREHOLDERS' FUNDS 300,963 381,028
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Julian Balaam
Director
18 July 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Skytech Aviation Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02810452 . The registered office is Hurst Farm, Winchfield, Hampshire, RG27 8SL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. The Company provides airlines and investors with clear advantages in aircraft finance, procurement, remarketing and fleet asset protection. Turnover is reduced for estimated customer rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% straight line
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 25,172
Additions 1,709
As at 31 March 2024 26,881
Depreciation
As at 1 April 2023 21,848
Provided during the period 1,215
As at 31 March 2024 23,063
Net Book Value
As at 31 March 2024 3,818
As at 1 April 2023 3,324
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 84,633 62,785
Other debtors 61,257 64,475
145,890 127,260
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 45,172 77,913
Other creditors 52,127 42,628
Taxation and social security 86,526 135,505
183,825 256,046
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6,000 6,000
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