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REGISTERED NUMBER: 05368693 (England and Wales)















RAVENAIR HOLDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






RAVENAIR HOLDINGS LTD (REGISTERED NUMBER: 05368693)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAVENAIR HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: J T Nuttall
S Nuttall
J L Valentine
W Barrett





SECRETARY: S Nuttall





REGISTERED OFFICE: Business Aviation Centre
Viscount Drive
Liverpool John Lennon Airport
Liverpool
L24 5GA





REGISTERED NUMBER: 05368693 (England and Wales)






RAVENAIR HOLDINGS LTD (REGISTERED NUMBER: 05368693)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 940,982 974,012
Investments 5 300,070 300,070
1,241,052 1,274,082

CURRENT ASSETS
Debtors 6 555,607 428,246

CREDITORS
Amounts falling due within one year 7 50,581 24,669
NET CURRENT ASSETS 505,026 403,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,746,078

1,677,659

CAPITAL AND RESERVES
Called up share capital 8 1,069 1,069
Retained earnings 1,745,009 1,676,590
SHAREHOLDERS' FUNDS 1,746,078 1,677,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

RAVENAIR HOLDINGS LTD (REGISTERED NUMBER: 05368693)

BALANCE SHEET - continued
31 JANUARY 2024


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 31 October 2024 and were signed on its behalf by:





J T Nuttall - Director


RAVENAIR HOLDINGS LTD (REGISTERED NUMBER: 05368693)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Ravenair Holdings Ltd 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 are presented in sterling (£).

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

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 with wholly owned subsidiaries within the group.

Turnover
Turnover represents leasing of premises, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

RAVENAIR HOLDINGS LTD (REGISTERED NUMBER: 05368693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

Financial assets
Basic financial assets, including trade debtors, cash and bank balances and amounts owed by group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

If there is a decrease in the the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial Liabilities
Basic financial liabilities, including trade creditors and amounts owed to group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

RAVENAIR HOLDINGS LTD (REGISTERED NUMBER: 05368693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Short
leasehold
£   
COST
At 1 February 2023
and 31 January 2024 1,525,725
DEPRECIATION
At 1 February 2023 551,713
Charge for year 33,030
At 31 January 2024 584,743
NET BOOK VALUE
At 31 January 2024 940,982
At 31 January 2023 974,012

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 February 2023
and 31 January 2024 300,070
NET BOOK VALUE
At 31 January 2024 300,070
At 31 January 2023 300,070

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2 2
Amounts owed by inter company 555,605 428,244
555,607 428,246

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 29,241 3,328
Other creditors 3 3
Accruals and deferred income 21,337 21,338
50,581 24,669

RAVENAIR HOLDINGS LTD (REGISTERED NUMBER: 05368693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,069 Ordinary £1 1,069 1,069

9. CONTINGENT LIABILITIES

The company has a cross guarantee and debenture with Liverpool Aviation Services Limited, Cheshire Flying Services Limited and Ravenair Aircraft Limited in respect of bank borrowings. The potential liability at 31 January 2024 was £10,185 (2023: £22,141).

10. ULTIMATE CONTROLLING PARTY

The company is controlled by JT Nuttall and S Nuttall who are the company's directors and shareholders.