Registered number
07913441
Desirair Aviation Consultants Limited
Filleted Accounts
31 January 2024
Desirair Aviation Consultants Limited
Registered number: 07913441
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,083,000 1,100,000
Current assets
Debtors 4 62 19
Cash at bank and in hand 27,526 21,906
27,588 21,925
Creditors: amounts falling due within one year 5 (54,843) (49,077)
Net current liabilities (27,255) (27,152)
Total assets less current liabilities 1,055,745 1,072,848
Creditors: amounts falling due after more than one year 6 (819,647) (838,256)
Provisions for liabilities (22,000) (25,500)
Net assets 214,098 209,092
Capital and reserves
Called up share capital 2 2
Profit and loss account 214,096 209,090
Shareholders' funds 214,098 209,092
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M T Ryan
Director
Approved by the board on 26 October 2024
Desirair Aviation Consultants Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets, except freehold land and buildings, are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Freehold land and buildings are included at their estimated fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2023 1,100,000
Surplus on revaluation (17,000)
At 31 January 2024 1,083,000
Depreciation
At 31 January 2024 -
Net book value
At 31 January 2024 1,083,000
At 31 January 2023 1,100,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 913,034 913,034
Cumulative depreciation based on historical cost 139,147 120,886
773,887 792,148
4 Debtors 2024 2023
£ £
Trade debtors - 19
Other debtors 62 -
62 19
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,314 501
Taxation and social security costs 4,765 4,124
Other creditors 48,764 44,452
54,843 49,077
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 289,647 438,256
Other creditors 530,000 400,000
819,647 838,256
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 289,647 438,256
Bank loans are secured on the properties owned by the company.
8 Controlling party
The company considers the directors to be its controlling parties.
9 Other information
Desirair Aviation Consultants Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Cottage
2 Castlefield Road
Reigate
Surrey
RH2 0SH
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