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REGISTERED NUMBER: 05491242 (England and Wales)
























ARCTIC AIR (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ARCTIC AIR (UK) LIMITED (REGISTERED NUMBER: 05491242)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ARCTIC AIR (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J E Beer





REGISTERED OFFICE: 6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD





REGISTERED NUMBER: 05491242 (England and Wales)





ACCOUNTANTS: TC Group
6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD

ARCTIC AIR (UK) LIMITED (REGISTERED NUMBER: 05491242)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,532 3,924

CURRENT ASSETS
Cash at bank 1,172 2,246

CREDITORS
Amounts falling due within one year 5 552 425
NET CURRENT ASSETS 620 1,821
TOTAL ASSETS LESS CURRENT LIABILITIES 4,152 5,745

CREDITORS
Amounts falling due after more than one
year

6

20,715

20,715
NET LIABILITIES (16,563 ) (14,970 )

CAPITAL AND RESERVES
Called up share capital 13 13
Retained earnings (16,576 ) (14,983 )
(16,563 ) (14,970 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 August 2024 and were signed by:




J E Beer - Director


ARCTIC AIR (UK) LIMITED (REGISTERED NUMBER: 05491242)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Arctic Air (UK) 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.
Plant and machinery - 10% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

ARCTIC AIR (UK) LIMITED (REGISTERED NUMBER: 05491242)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 24,919
DEPRECIATION
At 1 April 2023 20,995
Charge for year 392
At 31 March 2024 21,387
NET BOOK VALUE
At 31 March 2024 3,532
At 31 March 2023 3,924

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 552 425

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 20,715 20,715

7. RELATED PARTY DISCLOSURES

During the year, the director Mr Beer loaned the company money with no set repayment date or interest payable. The amount owed to Mr Beer at the year end was £20,715 (2023: £20,715).

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J E Beer.

9. GOING CONCERN

The director recognises that the company has an insolvent balance sheet and confirms that they will continue to support the company personally until it reaches a solvent position.