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REGISTERED NUMBER: SC218170 (Scotland)












Financial Statements

for the Year Ended 31 December 2023

for

Air Charter Scotland (Holdings) Limited

Air Charter Scotland (Holdings) Limited (Registered number: SC218170)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Air Charter Scotland (Holdings) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G E McFarlane





SECRETARY: A M Bisset





REGISTERED OFFICE: 3 Colvilles Place, Kelvin Industrial Est
East Kilbride
Glasgow
G75 0PZ





REGISTERED NUMBER: SC218170 (Scotland)





AUDITORS: O'Haras Accountants Limited
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Air Charter Scotland (Holdings) Limited (Registered number: SC218170)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 10,496 10,496

CURRENT ASSETS
Debtors 5 1,736,889 1,248,522
Cash at bank 2,044 2,043
1,738,933 1,250,565
CREDITORS
Amounts falling due within one year 6 503,695 12,695
NET CURRENT ASSETS 1,235,238 1,237,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,245,734

1,248,366

CAPITAL AND RESERVES
Called up share capital 7 1 1
Share premium 1,233,691 1,233,691
Capital redemption reserve 1 1
Retained earnings 12,041 14,673
SHAREHOLDERS' FUNDS 1,245,734 1,248,366

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 19 August 2024 and were signed by:





G E McFarlane - Director


Air Charter Scotland (Holdings) Limited (Registered number: SC218170)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Air Charter Scotland (Holdings) Limited is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Air Charter Scotland (Holdings) Limited (Registered number: SC218170)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 10,496
NET BOOK VALUE
At 31 December 2023 10,496
At 31 December 2022 10,496

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,708,275 1,219,908
Amounts owed by associates 21,614 21,614
Other debtors 7,000 7,000
1,736,889 1,248,522

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 500,695 695
Accrued expenses 3,000 12,000
503,695 12,695

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
133,628 Ordinary £0.00001 1 1

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John O'Hara CA (Senior Statutory Auditor)
for and on behalf of O'Haras Accountants Limited

Air Charter Scotland (Holdings) Limited (Registered number: SC218170)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Air Charter Scotland Group Limited.