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REGISTERED NUMBER: 09003212












Financial Statements

for the Year Ended 31 December 2023

for

Luxaviation Technical Services Limited

Luxaviation Technical Services Limited (Registered number: 09003212)






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


Luxaviation Technical Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Hansen
D Van Den Langenberg
S Williamson





REGISTERED OFFICE: The Officers Mess
Royston Road
Cambridge
Cambridgeshire
CB22 4QH





REGISTERED NUMBER: 09003212





AUDITORS: Peter Hodgson & Co. Ltd. (Statutory Auditor)
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Luxaviation Technical Services Limited (Registered number: 09003212)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,821 6,393

CURRENT ASSETS
Debtors 5 949,457 810,375
Cash at bank 66,555 116,477
1,016,012 926,852
CREDITORS
Amounts falling due within one year 6 619,776 542,837
NET CURRENT ASSETS 396,236 384,015
TOTAL ASSETS LESS CURRENT
LIABILITIES

401,057

390,408

PROVISIONS FOR LIABILITIES 7 916 1,151
NET ASSETS 400,141 389,257

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 399,141 388,257
SHAREHOLDERS' FUNDS 400,141 389,257

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 23 September 2024 and were signed on its behalf by:





S Williamson - Director


Luxaviation Technical Services Limited (Registered number: 09003212)

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

1. STATUTORY INFORMATION

Luxaviation Technical Services Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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.

Significant judgements and estimates
There are no critical accounting judgements or key sources of estimation uncertainty pertaining to these financial statements or matters that need to be brought to the attention of users of these accounts which have not already been disclosed.

Changes in accounting policies
There were no changes to the accounting policies adopted by the company during the year.

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the work carried out on aircraft maintenance.

The company generally acts as a principal in selling goods and delivering services and recognises the revenue on a gross basis, at the point of delivering the service. For certain transactions such as where the company charges for aircraft usage, it acts as agent and recognises such revenue on a net basis.

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 - 3 years

Luxaviation Technical Services Limited (Registered number: 09003212)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Initial Measurement
Financial instruments are initially measured at the transaction price (this includes transaction cost except in the initial measurement of financial assets and liabilities that will be measured at fair value through profit or loss). If however the arrangement constitutes a financing transaction it is then measured at the present value of the future payments, discounted at a market related interest rate.

Trade and other receivables
Most sales are made on the basis of normal credit terms, and the receivables do not bear interest. Where credit is extended beyond normal credit terms, receivables are measured at amortised cost using the effective interest method. At the end of each reporting period, the carrying amounts of trade and other receivables are reviewed to determine whether there is any objective evidence that the amounts are not recoverable. If so, an impairment loss is recognised immediately in profit or loss.

Trade payables
Trade payables are obligations on the basis of normal credit terms and do not bear interest. Trade payables denominated in a foreign currency are translated into (currency) using the exchange rate at the reporting date. Foreign exchange gains or losses are included in other income or other expenses.

Bank loans and overdrafts
Interest expense is recognised on the basis of the effective interest method and is included in finance costs.

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.

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 paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Luxaviation Technical Services Limited (Registered number: 09003212)

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

2. ACCOUNTING POLICIES - continued

Functional and presentational currency
The functional currencies of the company are £ Stg, € Euro and $ USD.

The currency for accounts presentation purposes is £ Stg.

Provisions and contingencies
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event; it is probable that the company will be required to transfer economic benefits in settlement; and the amount of the obligation can be estimated reliably.

Provisions are measured at the present value of the amount expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks to a specific obligation. The increase in the provision due to the passage of time is recognised as interest expense.

Provisions are not recognised for future operating losses.

Contingent assets and contingent liabilities are not recognised.

Going concern
The financial statements have been prepared on a going concern basis which assumes the company will continue to trade in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 6,929
Additions 1,357
At 31 December 2023 8,286
DEPRECIATION
At 1 January 2023 536
Charge for year 2,929
At 31 December 2023 3,465
NET BOOK VALUE
At 31 December 2023 4,821
At 31 December 2022 6,393

Luxaviation Technical Services Limited (Registered number: 09003212)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 932,323 796,333
Other debtors 11,700 11,637
Prepayments & accrued income 5,316 2,405
Due from group companies 118 -
949,457 810,375

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 551,012 470,278
Social security and other taxes 28,932 26,854
VAT 28,568 34,745
Accruals and deferred income 11,264 10,960
619,776 542,837

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 916 1,151

Deferred
tax
£   
Balance at 1 January 2023 1,151
Provided during year (235 )
Balance at 31 December 2023 916

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. RESERVES
Retained
earnings
£   

At 1 January 2023 388,257
Profit for the year 10,884
At 31 December 2023 399,141

Luxaviation Technical Services Limited (Registered number: 09003212)

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

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

The Report of the Auditors was unqualified.

Aidan Smyth (Senior Statutory Auditor)
for and on behalf of Peter Hodgson & Co. Ltd. (Statutory Auditor)

11. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - -

12. PARENT COMPANY

The ultimate parent company is Luxaviation Management Company SA, a company incorporated in Luxembourg.

13. GOING CONCERN

The accounts have been drawn up on a going concern basis on the assumption that the company will continue to trade for a period of at least 12 months from the date of approval by the directors.