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REGISTERED NUMBER: 10164850 (England and Wales)







Financial Statements for the Year Ended 31 December 2023

for

AirHop Guildford Limited

AirHop Guildford Limited (Registered number: 10164850)






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


AirHop Guildford Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P I Haagaas
T I McClure
D E Melhus
AirHop Holdings Limited



REGISTERED OFFICE: 5 Patchway Trading Estate
Britannia Road
Patchway
Bristol
BS34 5TA



REGISTERED NUMBER: 10164850 (England and Wales)



SENIOR STATUTORY AUDITOR: Matthew Dobbins FCA



AUDITORS: Dunkley's
Statutory Auditor
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

AirHop Guildford Limited (Registered number: 10164850)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 405,672 447,841

CURRENT ASSETS
Debtors 5 127,517 213
Cash at bank 5,758 94,731
133,275 94,944
CREDITORS
Amounts falling due within one year 6 (666,190 ) (621,990 )
NET CURRENT LIABILITIES (532,915 ) (527,046 )
TOTAL ASSETS LESS CURRENT LIABILITIES (127,243 ) (79,205 )

PROVISIONS FOR LIABILITIES (52,968 ) (85,090 )
NET LIABILITIES (180,211 ) (164,295 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (180,212 ) (164,296 )
SHAREHOLDERS' FUNDS (180,211 ) (164,295 )

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 17 September 2024 and were signed on its behalf by:





T I McClure - Director


AirHop Guildford Limited (Registered number: 10164850)

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

1. STATUTORY INFORMATION

AirHop Guildford 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
Revenue represents reimbursement from group entities for the rental costs and administrative expenses occurred on the property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - over remaining period of lease
Fixtures and fittings - 20% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.

The gain or loss arising on 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 .

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.

AirHop Guildford Limited (Registered number: 10164850)

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

2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments to all of its financial instruments.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and
improvements fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 462,443 56,701 519,144
DEPRECIATION
At 1 January 2023 50,863 20,440 71,303
Charge for year 30,829 11,340 42,169
At 31 December 2023 81,692 31,780 113,472
NET BOOK VALUE
At 31 December 2023 380,751 24,921 405,672
At 31 December 2022 411,580 36,261 447,841

AirHop Guildford Limited (Registered number: 10164850)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 80,000 -
VAT 11 212
Called up share capital not paid 1 1
Prepayments and accrued income 47,505 -
127,517 213

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 14,464 106,476
Amounts owed to group undertakings 604,221 515,514
Accrued expenses 47,505 -
666,190 621,990

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 326,739 326,739
Between one and five years 1,225,271 1,552,010
1,552,010 1,878,749

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Dobbins FCA (Senior Statutory Auditor)
for and on behalf of Dunkley's

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

AirHop Guildford Limited (Registered number: 10164850)

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

12. ULTIMATE CONTROLLING PARTY

The parent of the smallest and largest group for which consolidated financial statements are drawn up of which this company is a member is Parc Invest AS, a company registered in Norway.

The registered office of the parent is Holtet 45, 1368 Stabekk, Norway.