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REGISTERED NUMBER: 05553431 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Smart Aviation Limited

Smart Aviation Limited (Registered number: 05553431)






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


Smart Aviation Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M Hawkins





SECRETARY: M Hawkins





REGISTERED OFFICE: Smart House
C2 Windsor Place
Faraday Road
Crawley
West Sussex
RH10 9TF





REGISTERED NUMBER: 05553431 (England and Wales)





ACCOUNTANTS: AM-PM Accounting Solutions Limited
Building 6000
Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA

Smart Aviation Limited (Registered number: 05553431)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,043 33,581

CURRENT ASSETS
Debtors 5 1,068,353 623,239
Cash at bank 729,465 1,194,409
1,797,818 1,817,648
CREDITORS
Amounts falling due within one year 6 1,863,653 1,849,290
NET CURRENT LIABILITIES (65,835 ) (31,642 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,208

1,939

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,108 1,839
SHAREHOLDERS' FUNDS 2,208 1,939

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2024 and were signed by:





M Hawkins - Director


Smart Aviation Limited (Registered number: 05553431)

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

1. STATUTORY INFORMATION

Smart Aviation 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 represents net commission receivable, excluding value added tax.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 30% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

Smart Aviation Limited (Registered number: 05553431)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 21,728 69,495 39,462 130,685
Additions 3,024 75,324 3,894 82,242
Disposals - (69,495 ) - (69,495 )
At 31 December 2023 24,752 75,324 43,356 143,432
DEPRECIATION
At 1 January 2023 18,014 44,053 35,037 97,104
Charge for year 1,010 20,158 2,497 23,665
Eliminated on disposal - (45,380 ) - (45,380 )
At 31 December 2023 19,024 18,831 37,534 75,389
NET BOOK VALUE
At 31 December 2023 5,728 56,493 5,822 68,043
At 31 December 2022 3,714 25,442 4,425 33,581

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 165,083 212,151
Amounts owed by group undertakings 490,422 101,473
Other debtors 412,848 309,615
1,068,353 623,239

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 475,160 387,814
Taxation and social security 221,021 132,761
Other creditors 1,167,472 1,328,715
1,863,653 1,849,290

7. FINANCIAL INSTRUMENTS

A charge was registered at Companies House on 16 April 2009. The charge is by way of first fixed with full title guarante, and pledges in favour of CSUKL, as a continuing security for payment and discharge in full of the Liabilities.

The person entitled to this charge is Credit Suisse (UK) Limited.

A further charge was registered at Companies House on 12 June 2014. The charge is over Deposits (By Company).

The person entitled to this charge is Aib Group (UK) P.L.C.

Smart Aviation Limited (Registered number: 05553431)

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

8. ULTIMATE CONTROLLING PARTY

Mr M Hawkins owns 100% of the issued share capital of Red Barracuda Holdings Limited, the ultimate parent company.