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REGISTERED NUMBER: SC707997 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

ECOJET AIRLINES LIMITED

ECOJET AIRLINES LIMITED (REGISTERED NUMBER: SC707997)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ECOJET AIRLINES LIMITED

COMPANY INFORMATION
for the year ended 31 August 2023







DIRECTORS: P A Davies
B A Smith
D A Vince





REGISTERED OFFICE: 5 South Charlotte Street
Edinburgh
EH2 4AN





REGISTERED NUMBER: SC707997 (Scotland)






ECOJET AIRLINES LIMITED (REGISTERED NUMBER: SC707997)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,091 -

CURRENT ASSETS
Debtors 5 122,557 1
Cash at bank 890,544 -
1,013,101 1
CREDITORS
Amounts falling due within one year 6 14,087 -
NET CURRENT ASSETS 999,014 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,000,105

1

CAPITAL AND RESERVES
Called up share capital 7 33 1
Share premium 1,000,072 -
SHAREHOLDERS' FUNDS 1,000,105 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





B A Smith - Director


ECOJET AIRLINES LIMITED (REGISTERED NUMBER: SC707997)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Ecojet Airlines 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.

The company has not yet commenced trading.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Computer equipment over 3 years on a straight line basis

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.

FOREIGN CURRENCIES
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PENSION COSTS
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

ECOJET AIRLINES LIMITED (REGISTERED NUMBER: SC707997)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,122
At 31 August 2023 1,122
DEPRECIATION
Charge for year 31
At 31 August 2023 31
NET BOOK VALUE
At 31 August 2023 1,091

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,267 1
Pre-trading expenses 120,290 -
122,557 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 8,955 -
Other creditors 5,132 -
14,087 -

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
33,334 Ordinary 0.001 33 1

On 25/10/22 24 Ordinary shares of £1 each were allotted as fully paid at par value.
On 23/01/23 25 Ordinary shares of £1 each were subdivided into 25,000 Ordinary shares of £0.001 each.
On 20/03/23 8,334 Ordinary shares of £0.001 each were allotted as fully paid for a consideration of £120 per share.

8. POST BALANCE SHEET EVENTS

On 31 December 2023, Ecojet Airlines Limited entered into an agreement to purchase two engines with a total capital commitment of £1.8 million to be made within the next four years.