IRIS Accounts Production v24.1.9.2 10545596 Board of Directors 1.1.23 31.12.23 31.12.23 26.3.24 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh105455962022-12-31105455962023-12-31105455962023-01-012023-12-31105455962021-12-31105455962022-01-012022-12-31105455962022-12-3110545596ns15:EnglandWales2023-01-012023-12-3110545596ns14:PoundSterling2023-01-012023-12-3110545596ns10:Director12023-01-012023-12-3110545596ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3110545596ns10:SmallEntities2023-01-012023-12-3110545596ns10:Audited2023-01-012023-12-3110545596ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3110545596ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110545596ns10:FullAccounts2023-01-012023-12-3110545596ns10:OrdinaryShareClass12023-01-012023-12-3110545596ns10:Director22023-01-012023-12-3110545596ns10:RegisteredOffice2023-01-012023-12-3110545596ns5:CurrentFinancialInstruments2023-12-3110545596ns5:CurrentFinancialInstruments2022-12-3110545596ns5:ShareCapital2023-12-3110545596ns5:ShareCapital2022-12-3110545596ns5:RetainedEarningsAccumulatedLosses2023-12-3110545596ns5:RetainedEarningsAccumulatedLosses2022-12-3110545596ns5:LeaseholdImprovements2023-01-012023-12-3110545596ns5:FurnitureFittings2023-01-012023-12-3110545596ns5:ComputerEquipment2023-01-012023-12-3110545596ns5:LeaseholdImprovements2022-12-3110545596ns5:FurnitureFittings2022-12-3110545596ns5:ComputerEquipment2022-12-3110545596ns5:LeaseholdImprovements2023-12-3110545596ns5:FurnitureFittings2023-12-3110545596ns5:ComputerEquipment2023-12-3110545596ns5:LeaseholdImprovements2022-12-3110545596ns5:FurnitureFittings2022-12-3110545596ns5:ComputerEquipment2022-12-3110545596ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3110545596ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3110545596ns5:WithinOneYear2023-12-3110545596ns5:WithinOneYear2022-12-3110545596ns5:BetweenOneFiveYears2023-12-3110545596ns5:BetweenOneFiveYears2022-12-3110545596ns5:AllPeriods2023-12-3110545596ns5:AllPeriods2022-12-3110545596ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 10545596 (England and Wales)


























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EURO CARGO AVIATION LIMITED

EURO CARGO AVIATION LIMITED (REGISTERED NUMBER: 10545596)

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


EURO CARGO AVIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr S D Holland
Mr L Addinell





REGISTERED OFFICE: Room 206/07
Building 308 World Freight
Manchester Airport
Manchester
M90 5PZ





REGISTERED NUMBER: 10545596 (England and Wales)





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

EURO CARGO AVIATION LIMITED (REGISTERED NUMBER: 10545596)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 24,162 12,709

CURRENT ASSETS
Debtors 5 1,092,789 2,157,465
Cash at bank 680,035 1,955,506
1,772,824 4,112,971
CREDITORS
Amounts falling due within one year 6 (1,324,929 ) (2,364,736 )
NET CURRENT ASSETS 447,895 1,748,235
TOTAL ASSETS LESS CURRENT
LIABILITIES

472,057

1,760,944

PROVISIONS FOR LIABILITIES (2,800 ) (2,800 )
NET ASSETS 469,257 1,758,144

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 468,257 1,757,144
SHAREHOLDERS' FUNDS 469,257 1,758,144

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 26 March 2024 and were signed on its behalf by:





Mr L Addinell - Director


EURO CARGO AVIATION LIMITED (REGISTERED NUMBER: 10545596)

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


1. STATUTORY INFORMATION

Euro Cargo 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 is recognised by reference to the flight date, when 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.
Improvements to property - Over the term of the lease and Over the remaining term of the lease
Fixtures and fittings - 25% on reducing balance
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.

EURO CARGO AVIATION LIMITED (REGISTERED NUMBER: 10545596)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 6,997 11,637 22,711 41,345
Additions - - 12,848 12,848
At 31 December 2023 6,997 11,637 35,559 54,193
DEPRECIATION
At 1 January 2023 - 8,592 20,044 28,636
Charge for year - - 1,395 1,395
At 31 December 2023 - 8,592 21,439 30,031
NET BOOK VALUE
At 31 December 2023 6,997 3,045 14,120 24,162
At 31 December 2022 6,997 3,045 2,667 12,709

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 789,268 1,732,813
Other debtors 89,344 221,625
Amounts due from group companies 191,203 187,757
VAT 9,578 6,543
Prepayments and accrued income 13,396 8,727
1,092,789 2,157,465

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 760,236 554,191
Corporation tax 3,670 208,953
Amounts due to group companies 12,740 61,050
Accruals and deferred income 548,283 1,540,542
1,324,929 2,364,736

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 7,724 4,919
Between one and five years 44,064 19,682
51,788 24,601

EURO CARGO AVIATION LIMITED (REGISTERED NUMBER: 10545596)

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


8. CALLED UP SHARE CAPITAL

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

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.