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REGISTERED NUMBER: 10533731 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PARACHUTING CARAVAN LEASING LIMITED

PARACHUTING CARAVAN LEASING LIMITED (REGISTERED NUMBER: 10533731)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARACHUTING CARAVAN LEASING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G Blamire
D Parker





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 10533731 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

PARACHUTING CARAVAN LEASING LIMITED (REGISTERED NUMBER: 10533731)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,667,632 2,667,632

CURRENT ASSETS
Debtors 5 249,995 112,600
Cash at bank 22,546 232,965
272,541 345,565
CREDITORS
Amounts falling due within one year 6 1,205,648 1,202,519
NET CURRENT LIABILITIES (933,107 ) (856,954 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,734,525 1,810,678

CREDITORS
Amounts falling due after more than one
year

7

1,381,373

1,580,966
NET ASSETS 353,152 229,712

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 353,052 229,612
SHAREHOLDERS' FUNDS 353,152 229,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PARACHUTING CARAVAN LEASING LIMITED (REGISTERED NUMBER: 10533731)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




G Blamire - Director



D Parker - Director


PARACHUTING CARAVAN LEASING LIMITED (REGISTERED NUMBER: 10533731)

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


1. STATUTORY INFORMATION

Parachuting Caravan Leasing 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.

The financial statements have been prepared on a going concern basis which is thought to be appropriate because the directors intend to provide additional funds to meet the company's liabilities as they fall due. The financial statements do not contain any adjustments that might be necessary if the additional funds were not available.

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

Tangible fixed assets
Depreciation is not provided on aircraft as any depreciation charged would be immaterial to the financial statements. Depreciation would be immaterial due to the high residual value of the assets which are ensured by a programme of repair and refurbishment (the cost of which is charged to the profit and loss account).

The Companies Act 2006 requires all fixed assets to be depreciated, however the directors consider that because of the high residual values any charge would be immaterial and therefore to depreciate them would not give a true and fair view.

An annual impairment review is undertaken for those tangible fixed assets which are not depreciated.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


PARACHUTING CARAVAN LEASING LIMITED (REGISTERED NUMBER: 10533731)

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


2. ACCOUNTING POLICIES - continued
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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 2,667,632
NET BOOK VALUE
At 31 December 2023 2,667,632
At 31 December 2022 2,667,632

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,351 100,246
Amounts owed by associates 207,533 -
Other debtors 100 100
VAT - 12,254
Prepayments and accrued income 6,011 -
249,995 112,600

PARACHUTING CARAVAN LEASING LIMITED (REGISTERED NUMBER: 10533731)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 189,932 189,932
Trade creditors 69,343 18,652
Amounts owed to associates 824,304 842,073
VAT 2,077 -
Accruals and deferred income 119,992 151,862
1,205,648 1,202,519

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 189,932 189,932
Bank loans - 2-5 years 557,296 562,296
Bank loans more 5 yr by instal 336,832 531,425
Other loans - 1-2 years 297,313 297,313
1,381,373 1,580,966

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 336,832 531,425

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,273,992 1,473,585

The bank loan is secured by way of a legal charge over the company's fixed asset.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100