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REGISTERED NUMBER: 09356453 (England and Wales)
















Financial Statements

for the Year Ended 31 December 2023

for

Gc Aviation Maintenance Limited

Gc Aviation Maintenance Limited (Registered number: 09356453)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Gc Aviation Maintenance Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M J Gregory





REGISTERED OFFICE: Hangar H1
Cotswold Airport
Kemble
Cirencester
Glos
GL7 6BA





REGISTERED NUMBER: 09356453 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Gc Aviation Maintenance Limited

Report of the Accountants to the Director of
Gc Aviation Maintenance Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


23 September 2024

Gc Aviation Maintenance Limited (Registered number: 09356453)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161,271 167,169

CURRENT ASSETS
Debtors 5 570,089 184,582
Cash at bank 406,408 756,900
976,497 941,482
CREDITORS
Amounts falling due within one year 6 406,072 273,442
NET CURRENT ASSETS 570,425 668,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

731,696

835,209

CREDITORS
Amounts falling due after more than
one year

7

-

(8,311

)

PROVISIONS FOR LIABILITIES (20,287 ) (23,897 )
NET ASSETS 711,409 803,001

Gc Aviation Maintenance Limited (Registered number: 09356453)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 710,409 802,001
SHAREHOLDERS' FUNDS 711,409 803,001

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 director acknowledges his 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.

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 director and authorised for issue on 23 September 2024 and were signed by:





M J Gregory - Director


Gc Aviation Maintenance Limited (Registered number: 09356453)

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


1. STATUTORY INFORMATION

Gc Aviation Maintenance 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.

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 provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Gc Aviation Maintenance Limited (Registered number: 09356453)

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


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 - 321,280 23,640 3,222 348,142
Additions 26,171 4,270 - 1,034 31,475
At 31 December 2023 26,171 325,550 23,640 4,256 379,617
DEPRECIATION
At 1 January 2023 - 171,097 8,545 1,331 180,973
Charge for year 2,617 30,890 3,019 847 37,373
At 31 December 2023 2,617 201,987 11,564 2,178 218,346
NET BOOK VALUE
At 31 December 2023 23,554 123,563 12,076 2,078 161,271
At 31 December 2022 - 150,183 15,095 1,891 167,169

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 341,240 165,881
Other debtors 228,849 18,701
570,089 184,582

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 8,311 9,516
Trade creditors 205,059 208,456
Taxation and social security 9,582 52,785
Other creditors 183,120 2,685
406,072 273,442

Gc Aviation Maintenance Limited (Registered number: 09356453)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) - 8,311

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 8,311 9,516
Between one and five years - 8,311
8,311 17,827

Non-cancellable operating leases
2023 2022
£    £   
Within one year 155,664 132,681
Between one and five years 622,655 530,724
In more than five years 350,243 431,215
1,128,562 1,094,620

9. CALLED UP SHARE CAPITAL

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

Gc Aviation Maintenance Limited (Registered number: 09356453)

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


10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
M J Gregory
Balance outstanding at start of year - -
Amounts advanced 181,800 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 181,800 -

Interest has been charged on the balance at a rate of 2.00%. This loan was subsequently repaid in full on 19 September 2024.