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REGISTERED NUMBER: SC205523 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

SKYDIVE ST. ANDREWS LIMITED

SKYDIVE ST. ANDREWS LIMITED (REGISTERED NUMBER: SC205523)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKYDIVE ST. ANDREWS LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A S Barnett





REGISTERED OFFICE: Unit 3B
Osprey Road
Fife Airport
Glenrothes
Fife
KY6 2SZ





REGISTERED NUMBER: SC205523 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

SKYDIVE ST. ANDREWS LIMITED (REGISTERED NUMBER: SC205523)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,747 82,606

CURRENT ASSETS
Debtors 5 9,083 4,906
Cash in hand 50 50
9,133 4,956
CREDITORS
Amounts falling due within one year 6 42,370 48,341
NET CURRENT LIABILITIES (33,237 ) (43,385 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,510

39,221

CREDITORS
Amounts falling due after more than one
year

7

(14,114

)

(24,871

)

PROVISIONS FOR LIABILITIES 9 (9,838 ) (15,104 )
NET LIABILITIES (4,442 ) (754 )

CAPITAL AND RESERVES
Called up share capital 35,000 35,000
Share premium 17,500 17,500
Retained earnings (56,942 ) (53,254 )
SHAREHOLDERS' FUNDS (4,442 ) (754 )

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.

SKYDIVE ST. ANDREWS LIMITED (REGISTERED NUMBER: SC205523)

Balance Sheet - continued
31 MARCH 2024


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 21 August 2024 and were signed by:





A S Barnett - Director


SKYDIVE ST. ANDREWS LIMITED (REGISTERED NUMBER: SC205523)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Skydive St. Andrews 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.

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.
Aircraft & engines - 10% on cost
Plant and machinery - 25% on cost
Furniture & equipment - 25% on cost
Motor vehicles - 25% on 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

SKYDIVE ST. ANDREWS LIMITED (REGISTERED NUMBER: SC205523)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Aircraft Plant and Furniture Motor
& engines machinery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 264,507 66,565 7,067 2,000 340,139
Additions - 8,670 - - 8,670
Disposals (30,000 ) (1,391 ) (529 ) (2,000 ) (33,920 )
At 31 March 2024 234,507 73,844 6,538 - 314,889
DEPRECIATION
At 1 April 2023 195,348 56,672 3,513 2,000 257,533
Charge for year 9,825 6,381 1,323 - 17,529
Eliminated on disposal (9,000 ) (1,391 ) (529 ) (2,000 ) (12,920 )
At 31 March 2024 196,173 61,662 4,307 - 262,142
NET BOOK VALUE
At 31 March 2024 38,334 12,182 2,231 - 52,747
At 31 March 2023 69,159 9,893 3,554 - 82,606

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,080 -
Other debtors 1,120 1,860
Prepayments 4,883 3,046
9,083 4,906

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 8) 11,668 19,640
Trade creditors 7,964 6,507
Social security and other taxes 1,697 1,586
VAT 11,008 10,711
Directors' current accounts 8,000 6,000
Accruals and deferred income 2,033 3,897
42,370 48,341

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 8) 14,114 24,871

SKYDIVE ST. ANDREWS LIMITED (REGISTERED NUMBER: SC205523)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 1 2,973
Bank loans 11,667 16,667
11,668 19,640

Amounts falling due between one and two years:
Bank loans - 1-2 years 14,114 24,871

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 9,838 15,104

Deferred
tax
£   
Balance at 1 April 2023 15,104
Provided during year (5,266 )
Balance at 31 March 2024 9,838