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Registered number: 09048793
On Air Dining Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Innovate Accountancy Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09048793
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 479,012 397,411
479,012 397,411
CURRENT ASSETS
Stocks 6 132,091 94,026
Debtors 7 217,764 233,505
Cash at bank and in hand 12,642 123,392
362,497 450,923
Creditors: Amounts Falling Due Within One Year 8 (828,166 ) (557,102 )
NET CURRENT ASSETS (LIABILITIES) (465,669 ) (106,179 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,343 291,232
Creditors: Amounts Falling Due After More Than One Year 9 (2,031,500 ) (2,281,629 )
NET LIABILITIES (2,018,157 ) (1,990,397 )
CAPITAL AND RESERVES
Called up share capital 11 150,040 150,040
Profit and Loss Account (2,168,197 ) (2,140,437 )
SHAREHOLDERS' FUNDS (2,018,157) (1,990,397)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Hulme
Director
03/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
On Air Dining Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09048793 . The registered office is Unit B3 Redfields Industrial Park, Church Crookham, Fleet, GU52 0RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20
Leasehold 20
Plant & Machinery 20
Motor Vehicles 20
Fixtures & Fittings 20
Computer Equipment 20
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2023: 48)
42 48
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 402,655
As at 31 May 2024 402,655
Amortisation
As at 1 June 2023 402,655
As at 31 May 2024 402,655
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2023 71,167 240,596 341,320 27,691 680,774
Additions - - 197,714 5,403 203,117
Disposals - (5,800 ) - - (5,800 )
As at 31 May 2024 71,167 234,796 539,034 33,094 878,091
Depreciation
As at 1 June 2023 19,617 128,910 125,077 9,759 283,363
Provided during the period 10,310 21,177 82,791 1,438 115,716
As at 31 May 2024 29,927 150,087 207,868 11,197 399,079
Net Book Value
As at 31 May 2024 41,240 84,709 331,166 21,897 479,012
As at 1 June 2023 51,550 111,686 216,243 17,932 397,411
6. Stocks
2024 2023
£ £
Stock 132,091 94,026
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 152,240 170,455
Prepayments and accrued income - 49,206
Other debtors - 3,727
VAT 65,524 10,117
217,764 233,505
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 247,829 214,596
Bank loans and overdrafts 303,859 -
Other loans 18,714 31,841
Other taxes and social security 120,329 62,669
Net wages - 463
Other creditors - 3,194
Accruals and deferred income 65,840 202,842
Director's loan account 71,595 41,497
828,166 557,102
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 47,773
Other loans 2,031,500 2,041,500
Other creditors - 192,356
2,031,500 2,281,629
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years - 47,773
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 150,040 150,040
Page 5