REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 31 December 2023 |
for |
AutoGyro Certification Limited |
REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 31 December 2023 |
for |
AutoGyro Certification Limited |
AutoGyro Certification Limited (Registered number: 05486550) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
AutoGyro Certification Limited |
Company Information |
for the year ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditor |
Belmont House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
BANKERS: |
1 Broad Street |
Leominster |
Herefordshire |
HR68BU |
AutoGyro Certification Limited (Registered number: 05486550) |
Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Property, plant and equipment | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
AutoGyro Certification Limited (Registered number: 05486550) |
Statement of Financial Position - continued |
31 December 2023 |
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 |
AutoGyro Certification Limited (Registered number: 05486550) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
AutoGyro Certification Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Development expenditure |
Development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to sales from such projects. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Financial instruments |
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. |
AutoGyro Certification Limited (Registered number: 05486550) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 |
AutoGyro Certification Limited (Registered number: 05486550) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
4. | AUDITORS' REMUNERATION |
2023 | 2022 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
3,350 |
3,240 |
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
AutoGyro Certification Limited (Registered number: 05486550) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
6. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
AutoGyro Certification Limited (Registered number: 05486550) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
Included in creditors due within one year is an amount of £121,468 (2022: £5.616) due to the director of the company. No interest is charged on this loan. The loan is repayable on demand. |
During the year the company provided services to the value of £nil (2022: £10,176) to AutoGyro Investment Holding Ltd, the ultimate parent company. At the balance sheet date AutoGyro Investment Holding Ltd owed the company £10,176 (2022: £10,176) for these services. |
During the year the company provided services to the value of £58,100 (2022: £206,150) to AutoGyro Advanced Concepts, a company that is 60% owned by AutoGyro Investment Holding Ltd. At the balance sheet date AutoGyro Advanced Concepts owed the company £58,100 (2022: £132,524) for these services. |
The company provided services to the value of £275,598 (2022: £117,091) to AutoGyro GmbH, a company that is a part of the AutoGyro Investment Holding Ltd group. At the balance sheet date AutoGyro GmbH owed the company £141,856 (2022: £21,000) for these services. During the year the company purchased goods from AutoGyro GmbH to the value of £nil (2022: £1,108). At the balance sheet date the company owed AutoGyro GmbH £1,108 (2022: £,1,108) for these purchases. |
During the year the company provided services to the value of £1,607 (2022: £9,763) to AutoGyro USA, a company that is owned by AutoGyro Advanced Concepts Holding AG, a company part of the AutoGyro Investment Holding Ltd group. At the balance sheet date AutoGyro USA owed the company £nil (2022: £nil) for these services. |
During the year the company provided services to the value of £(8,113) credit note (2022: £7,715 sales) to AutoGyro China Holding Co Ltd, a company that is owned by AutoGyro Advanced Concepts Holding AG. At the balance sheet date AutoGyro China Holding Co Ltd owed the company £nil (2022: £8,113) for these services. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is AutoGyro Advanced Concepts Holding AG, a company incorporated in Switzerland and which holds a 100% interest in the shareholding of the company.The registered office of the parent company is c/o Maygold Ltd, Baarerstrasse 8, CH-6300 Zug. |
AutoGyro Certification Limited (Registered number: 05486550) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
12. | ULTIMATE PARENT UNDERTAKING |
The ultimate holding company is AutoGyro Investment Holding Ltd, a company incorporated in Switzerland, which is a majority shareholder in AutoGyro Advanced Concepts Holding AG, which in turn owns 100% of the issued share capital of AutoGyro Certification Limited. |