Avicom Britania Limited |
|
Report to the directors on the preparation of the unaudited statutory accounts of Avicom Britania Limited for the year ended 30 June 2024 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Avicom Britania Limited for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/ |
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
Britannia Accountancy Services |
Chartered Certified Accountants |
12 Mulberry Place |
Pinnell Road |
LONDON |
SE9 6AR |
|
19 August 2024 |
|
Avicom Britania Limited |
Registered number: |
06935163 |
Balance Sheet |
as at 30 June 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Fixed asset Investments beneficially owned |
3 |
|
|
10,053,077 |
|
|
10,053,077 |
|
Current assets |
Investments held as current assets |
3 |
|
2,659 |
|
|
2,659 |
Cash at bank and in hand |
|
|
1,295 |
|
|
1,839 |
|
|
|
3,954 |
|
|
4,498 |
|
Creditors: amounts falling due within one year |
4 |
|
(162,635) |
|
|
(162,671) |
|
Net current liabilities |
|
|
|
(158,681) |
|
|
(158,173) |
|
Total assets less current liabilities |
|
|
|
9,894,396 |
|
|
9,894,904 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(9,216,703) |
|
|
(9,216,613) |
|
|
|
Net assets |
|
|
|
677,693 |
|
|
678,291 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Non-distributable reserve |
6 |
|
|
691,292 |
|
|
691,292 |
Profit and loss account |
|
|
|
(13,601) |
|
|
(13,003) |
|
Shareholder's funds |
|
|
|
677,693 |
|
|
678,291 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
Edward Howard |
Director |
Approved by the board on 19 August 2024 |
|
Avicom Britania Limited |
Notes to the Accounts |
for the year ended 30 June 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Investments |
|
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Going concern |
|
Avicom Britania Ltd is fundamentally different from other companies in that, with respect to its primary business, it does not provide goods or services and has no customers other than its shareholders. Rather, it functions as an investment vehicle for its investors. |
|
The financial statements are normally prepared on the assumption that an entity will continue in operation for the foreseeable future. Hence, it is assumed that the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operations; if such an intention or need exists, the financial statements may have to be prepared on a different basis. |
|
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. As a result they have adopted the going concern basis of accounting. |
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
Investments in |
subsidiary |
Other |
|
Fixed asset investments |
undertakings |
investments |
Total |
£ |
£ |
£ |
|
|
Plant, etc from Titan LLC |
77,659 |
|
77,659 |
|
Plant, etc from Styron Trading Inc |
130,780 |
|
130,780 |
|
Plant, etc from "Air repair enterprise "URARP" LLC |
364,270 |
|
364,270 |
|
Aircrafts from Aircompany Blacksea Ukranian Airlines LLC |
902,898 |
|
902,898 |
|
Land & property of International Airport Kherson LLC |
8,577,470 |
|
8,577,470 |
|
|
|
|
- |
|
10,053,077 |
|
10,053,077 |
|
|
|
|
|
|
|
|
|
£ |
£ |
|
Cash investments |
2,659 |
|
2,659 |
|
|
|
|
|
|
|
|
|
|
100% Charter Capital of International Airport Kherson LLC, consisting of a cash investment of £382. |
|
100% Charter Capital of Blacksea Ukranian Airlines LLC, consisting of a cash investment of £2,277. |
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Deferred tax |
162,155 |
|
162,155 |
|
Accrued expenses |
480 |
|
516 |
|
|
|
|
|
|
162,635 |
|
162,671 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Directors' current account |
|
|
|
|
15,387 |
|
15,297 |
|
Other creditors |
9,201,316 |
|
9,201,316 |
|
|
|
|
|
|
9,216,703 |
|
9,216,613 |
|
|
|
|
|
|
|
|
|
|
6 |
Non-distributable reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 July 2023 |
691,292 |
|
691,292 |
|
|
At 30 June 2024 |
691,292 |
|
691,292 |
|
|
|
|
|
|
|
|
|
|
7 |
Controlling party |
|
|
Ms Ganna Lyovina is both the immediate and ultimate controlling party. |
|
|
8 |
Other information |
|
|
Avicom Britania Limited is a private company limited by shares and incorporated in England. Its registered office is at: |
|
23 Melrose Close, Maidstone, Kent, ME15 6BD |