Company Registration No. 13308644 (England and Wales)
AERTICKET UK Limited
Financial statements
For the year ended 31 December 2023
Pages for filing with registrar
AERTICKET UK LIMITED
AERTICKET UK Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
AERTICKET UK LIMITED
AERTICKET UK Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
29,297
36,097
Tangible assets
4
493
729
Investments
5
2
2
29,792
36,828
Current assets
Debtors
6
352,231
622,978
Cash at bank and in hand
301,474
53,096
653,705
676,074
Creditors: amounts falling due within one year
7
(974,174)
(729,316)
Net current liabilities
(320,469)
(53,242)
Net liabilities
(290,677)
(16,414)
Capital and reserves
Called up share capital
30,000
100
Profit and loss reserves
(320,677)
(16,514)
Total equity
(290,677)
(16,414)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 June 2024 and are signed on its behalf by:
R Shah
Director
Company registration number 13308644 (England and Wales)
AERTICKET UK LIMITED
AERTICKET UK Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
During the year ended 31 December 2023, the company made a loss after tax of £3true04,163 (2022: £16,987), at the balance sheet date the company had net current liabilities of £320,469 (2022: £53,242) and net liabilities of £290,677 (2022: net liabilities of £16,414).
The company continues to meet its day-to-day working capital requirements through loans from group undertakings of £600,122 (2022: £474,274). Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis and they do not include any adjustments that would result from a withdrawal of support.
1.3
Turnover
Turnover represents amounts receivable for commission and is shown net of VAT.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Customer list
Straight line over 5 years
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
Straight line over 3 years
The gain or loss arising from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.
AERTICKET UK LIMITED
AERTICKET UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.8
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication occurs, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising from translation in the period are included in profit or loss.
1.11
The financial statements present information about the company as an individual undertaking, and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by Section 399 of the Companies Act 2006 not to prepare group accounts.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
AERTICKET UK LIMITED
AERTICKET UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Intangible fixed assets
Goodwill
Customer list
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
27,997
20,001
47,998
Amortisation and impairment
At 1 January 2023
4,900
7,001
11,901
Amortisation charged for the year
2,800
4,000
6,800
At 31 December 2023
7,700
11,001
18,701
Carrying amount
At 31 December 2023
20,297
9,000
29,297
At 31 December 2022
23,097
13,000
36,097
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
1,750
Additions
500
At 31 December 2023
2,250
Depreciation and impairment
At 1 January 2023
1,021
Depreciation charged in the year
736
At 31 December 2023
1,757
Carrying amount
At 31 December 2023
493
At 31 December 2022
729
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
2
2
AERTICKET UK LIMITED
AERTICKET UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
97,293
15,657
Amounts owed by group undertakings
246,137
598,892
Other debtors
8,801
8,429
352,231
622,978
7
Creditors
2023
2022
Amounts falling due within one year:
£
£
Trade creditors
152,940
56,636
Amounts owed to group undertakings
689,377
636,348
Taxation and social security
5,007
3,058
Other creditors
126,850
33,274
974,174
729,316
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
6,000
4,500
9
Financial commitments, guarantees and contingent liabilities
The parent company Aerticket International Conso Holding GmbH has provided a guarantee to the bank.
10
Parent company
The parent company is Aerticket International Conso Holding GmbH, whose registered office is Boppstr. 10, 10967 Berlin, Germany.
11
Company information
AERTICKET UK Limited is a private company limited by shares incorporated in England and Wales. The registered office and principle place of business is Meridien House, 42 Upper Berkeley Street, London, England, W1H 5PW.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
AERTICKET UK LIMITED
AERTICKET UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
12
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Nigel Walfisz FCA
Statutory Auditor:
MGR Weston Kay LLP
Date of audit report:
25 June 2024