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REGISTERED NUMBER: 10552826 (England and Wales)


























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TAKE OFF AVIATION LIMITED

TAKE OFF AVIATION LIMITED (REGISTERED NUMBER: 10552826)

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


TAKE OFF AVIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr S Crawt





REGISTERED OFFICE: Swissport
Building 558
Shoreham Road West
Hounslow
TW6 3RN





REGISTERED NUMBER: 10552826 (England and Wales)





AUDITORS: Livesey Spottiswood Ltd
Chartered Accountants and
Statutory Auditors
17 George Street
St Helens
Merseyside
WA10 1DB

TAKE OFF AVIATION LIMITED (REGISTERED NUMBER: 10552826)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,963 4,031

CURRENT ASSETS
Debtors 5 607,266 1,864,857
Cash at bank 1,186,979 1,445,363
1,794,245 3,310,220
CREDITORS
Amounts falling due within one year 6 (748,972 ) (1,249,316 )
NET CURRENT ASSETS 1,045,273 2,060,904
TOTAL ASSETS LESS CURRENT LIABILITIES 1,050,236 2,064,935

PROVISIONS FOR LIABILITIES (920 ) (920 )
NET ASSETS 1,049,316 2,064,015

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 1,048,316 2,063,015
SHAREHOLDERS' FUNDS 1,049,316 2,064,015

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 26 March 2024 and were signed by:





Mr S Crawt - Director


TAKE OFF AVIATION LIMITED (REGISTERED NUMBER: 10552826)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Take Off 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from air cargo transportation services are recognised by reference to the stage of completion of the transaction at the balance sheet date, the amount of turnover can be measured reliably, it is probable the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts.

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 5 (2022 - 5 ) .

TAKE OFF AVIATION LIMITED (REGISTERED NUMBER: 10552826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 21,730
Additions 3,386
At 31 December 2023 25,116
DEPRECIATION
At 1 January 2023 17,699
Charge for year 2,454
At 31 December 2023 20,153
NET BOOK VALUE
At 31 December 2023 4,963
At 31 December 2022 4,031

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 541,802 1,847,196
Other debtors 50,000 -
Amounts due from group companies 14,415 16,303
VAT 562 902
Prepayments 487 456
607,266 1,864,857

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 400,248 661,147
Corporation tax 88,800 85,000
Amounts due to group companies 146,418 256,747
Accrued expenses 113,506 246,422
748,972 1,249,316

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,629 1,042
Between one and five years - 9,850
3,629 10,892

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

TAKE OFF AVIATION LIMITED (REGISTERED NUMBER: 10552826)

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.

Andrew McMinnis ACA FCCA (Senior Statutory Auditor)
for and on behalf of Livesey Spottiswood Ltd

10. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is ML&E Investments B.V., a company incorporated in The Netherlands, which is the parent of the smallest and largest group to consolidate these financial statements. Copies of ML&E Investments B.V. consolidated financial statements can be obtained from Aalsmeerderdijk 158A, 1438AX Oude Meer, The Netherlands.

11. 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, for routine payroll services and assist with the preparation of the financial statements.