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REGISTERED NUMBER: SC190438 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

FRONTIER INTERNATIONAL (UK) LIMITED

FRONTIER INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: SC190438)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRONTIER INTERNATIONAL (UK) LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M Clarke
P Radcliffe





SECRETARY: Grant Smith Law Practice Ltd





REGISTERED OFFICE: Amicable House
252 Union Street
Aberdeen
AB10 1TN





REGISTERED NUMBER: SC190438 (Scotland)





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

FRONTIER INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: SC190438)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,163 428
Investment property 5 200,000 200,000
202,163 200,428

CURRENT ASSETS
Debtors 6 336,964 232,198
Cash at bank 281,829 352,598
618,793 584,796
CREDITORS
Amounts falling due within one year 7 279,600 263,133
NET CURRENT ASSETS 339,193 321,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,356

522,091

PROVISIONS FOR LIABILITIES 9 320 -
NET ASSETS 541,036 522,091

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 536,036 517,091
SHAREHOLDERS' FUNDS 541,036 522,091

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

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

FRONTIER INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: SC190438)

Balance Sheet - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





M Clarke - Director


FRONTIER INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: SC190438)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Frontier International (UK) 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 as modified by the revaluation of certain assets.

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.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on 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 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.

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.

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.

FRONTIER INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: SC190438)

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 22 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 2,056 3,070 5,126
Additions - 2,075 2,075
At 31 December 2023 2,056 5,145 7,201
DEPRECIATION
At 1 January 2023 2,056 2,642 4,698
Charge for year - 340 340
At 31 December 2023 2,056 2,982 5,038
NET BOOK VALUE
At 31 December 2023 - 2,163 2,163
At 31 December 2022 - 428 428

Cost or valuation at 31 December 2023 is represented by:

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 2022 2,056 5,145 7,201

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 200,000
NET BOOK VALUE
At 31 December 2023 200,000
At 31 December 2022 200,000

FRONTIER INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: SC190438)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2009 52,724
Valuation in 2013 100,000
Valuation in 2014 175,000
Valuation in 2016 (360,000 )
Valuation in 2018 (20,000 )
Valuation in 2022 (407,800 )
Cost 660,076
200,000

If Investment Property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 660,076 660,076

Investment Property was valued on an open market basis on 31 December 2022 by Savills .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 331,322 222,794
Other debtors 4,453 9,017
Directors' current accounts 600 -
Tax 381 -
S455 Tax Recoverable - 179
Prepayments and accrued income 208 208
336,964 232,198

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 2,117 1,859
Tax 29,790 20,597
Social security and other taxes 31,726 37,038
VAT 76,079 87,468
Other Creditors 4,305 3,823
Accruals and deferred income 135,583 112,348
279,600 263,133

FRONTIER INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: SC190438)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   

There is a standard security charge over the offices at the first floor, 9 Golden Square, Aberdeen and a standard security charge over the offices at the first floor, 499/501 Union Street, Aberdeen.

There is a bond and floating charge granted over all assets of the company.

There is a joint and several guarantee by Mark Clarke and Paul Radcliffe of £75,000.

There is a guarantee by Mark Clarke supported by an assignation over a life policy of £25,000.

There is a joint guarantee by Paul Radcliffe and Jill Radcliffe supported by a pledge over marketable securities of £25,000.

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 320 -

Deferred
tax
£   
Movement in year 320
Balance at 31 December 2023 320