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REGISTERED NUMBER: 01295153 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Instone Air Services Limited

Instone Air Services Limited (Registered number: 01295153)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Instone Air Services Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Jeremy Adam Instone





REGISTERED OFFICE: Charity Farm
Pulborough Road
Pulborough
West Sussex
RH20 4HP





REGISTERED NUMBER: 01295153 (England and Wales)





ACCOUNTANTS: Optima Financial Solutions Group Limited
Chartered Accountants
Calcutt Court
Calcutt
Swindon
Wiltshire
SN66JR

Instone Air Services Limited (Registered number: 01295153)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 382,637 463,125
Investments 5 105,201 133,813
Investment property 6 867,473 1,103,254
1,355,311 1,700,192

CURRENT ASSETS
Debtors 7 2,238,407 1,821,519
Cash at bank and in hand 5,086,082 4,097,594
7,324,489 5,919,113
CREDITORS
Amounts falling due within one year 8 4,069,505 3,448,236
NET CURRENT ASSETS 3,254,984 2,470,877
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,610,295

4,171,069

PROVISIONS FOR LIABILITIES 71,019 83,598
NET ASSETS 4,539,276 4,087,471

CAPITAL AND RESERVES
Called up share capital 9 358,447 358,447
Capital redemption reserve 18,000 18,000
Retained earnings 4,162,829 3,711,024
SHAREHOLDERS' FUNDS 4,539,276 4,087,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Instone Air Services Limited (Registered number: 01295153)

Statement of Financial Position - continued
30 November 2023


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 director and authorised for issue on 15 August 2024 and were signed by:





Jeremy Adam Instone - Director


Instone Air Services Limited (Registered number: 01295153)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Instone Air 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Horse Stalls - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Instone Air Services Limited (Registered number: 01295153)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued

Foreign currency translation
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 45,639 2,724,698 2,770,337
Additions - 30,600 30,600
At 30 November 2023 45,639 2,755,298 2,800,937
DEPRECIATION
At 1 December 2022 - 2,307,212 2,307,212
Charge for year - 111,088 111,088
At 30 November 2023 - 2,418,300 2,418,300
NET BOOK VALUE
At 30 November 2023 45,639 336,998 382,637
At 30 November 2022 45,639 417,486 463,125

Instone Air Services Limited (Registered number: 01295153)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 December 2022 1 133,812 133,813
Disposals - (28,612 ) (28,612 )
At 30 November 2023 1 105,200 105,201
NET BOOK VALUE
At 30 November 2023 1 105,200 105,201
At 30 November 2022 1 133,812 133,813

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 1,103,254
Additions 5,842
Disposals (241,623 )
At 30 November 2023 867,473
NET BOOK VALUE
At 30 November 2023 867,473
At 30 November 2022 1,103,254

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 1,775,891 1,248,306
Other debtors 462,516 573,213
2,238,407 1,821,519

Instone Air Services Limited (Registered number: 01295153)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 2,551,838 2,493,552
Amounts owed to group undertakings 1 1
Taxation and social security 220,314 189,546
Other creditors 1,297,352 765,137
4,069,505 3,448,236

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
12,000 Ordinary 1 12,000 12,000
346,447 B - Ordinary 1 346,447 346,447
358,447 358,447

10. ULTIMATE CONTROLLING PARTY

The director considers that, as the majority shareholder, J A Instone is the ultimate controlling party.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Instone Air Services Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Instone Air Services Limited for the year ended 30 November 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Instone Air Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Instone Air Services Limited and state those matters that we have agreed to state to the director of Instone Air Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Instone Air Services Limited and its director for our work or for this report.

It is your duty to ensure that Instone Air Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Instone Air Services Limited. You consider that Instone Air Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Instone Air Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Optima Financial Solutions Group Limited
Chartered Accountants
Calcutt Court
Calcutt
Swindon
Wiltshire
SN66JR


Date: .............................................