IRIS Accounts Production v24.2.0.383 SC357935 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Ordinary 2.00000 Ordinary 2.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3579352023-04-30SC3579352024-04-30SC3579352023-05-012024-04-30SC3579352022-04-30SC3579352022-05-012023-04-30SC3579352023-04-30SC357935ns15:Scotland2023-05-012024-04-30SC357935ns14:PoundSterling2023-05-012024-04-30SC357935ns10:Director12023-05-012024-04-30SC357935ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC357935ns10:SmallEntities2023-05-012024-04-30SC357935ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30SC357935ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC357935ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC357935ns10:FullAccounts2023-05-012024-04-30SC357935ns10:OrdinaryShareClass12023-05-012024-04-30SC357935ns10:Director22023-05-012024-04-30SC357935ns10:RegisteredOffice2023-05-012024-04-30SC357935ns5:CurrentFinancialInstruments2024-04-30SC357935ns5:CurrentFinancialInstruments2023-04-30SC357935ns5:Non-currentFinancialInstruments2024-04-30SC357935ns5:Non-currentFinancialInstruments2023-04-30SC357935ns5:ShareCapital2024-04-30SC357935ns5:ShareCapital2023-04-30SC357935ns5:RevaluationReserve2024-04-30SC357935ns5:RevaluationReserve2023-04-30SC357935ns5:RetainedEarningsAccumulatedLosses2024-04-30SC357935ns5:RetainedEarningsAccumulatedLosses2023-04-30SC357935ns5:PlantMachinery2023-04-30SC357935ns5:FurnitureFittings2023-04-30SC357935ns5:MotorVehicles2023-04-30SC357935ns5:ComputerEquipment2023-04-30SC357935ns5:PlantMachinery2023-05-012024-04-30SC357935ns5:FurnitureFittings2023-05-012024-04-30SC357935ns5:MotorVehicles2023-05-012024-04-30SC357935ns5:ComputerEquipment2023-05-012024-04-30SC357935ns5:PlantMachinery2024-04-30SC357935ns5:FurnitureFittings2024-04-30SC357935ns5:MotorVehicles2024-04-30SC357935ns5:ComputerEquipment2024-04-30SC357935ns5:PlantMachinery2023-04-30SC357935ns5:FurnitureFittings2023-04-30SC357935ns5:MotorVehicles2023-04-30SC357935ns5:ComputerEquipment2023-04-30SC357935ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-04-30SC357935ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-04-30SC357935ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-30SC357935ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-30SC357935ns5:WithinOneYear2024-04-30SC357935ns5:WithinOneYear2023-04-30SC357935ns5:BetweenOneFiveYears2024-04-30SC357935ns5:BetweenOneFiveYears2023-04-30SC357935ns5:AllPeriods2024-04-30SC357935ns5:AllPeriods2023-04-30SC357935ns10:OrdinaryShareClass12024-04-30SC357935ns5:RevaluationReserve2023-04-30
REGISTERED NUMBER: SC357935 (Scotland)





















HIGHLAND AVIATION TRAINING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


HIGHLAND AVIATION TRAINING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: N D Taggart
W S Roomes





REGISTERED OFFICE: Unit 101
Inverness Airport
Dalcross
Inverness
Highland
IV2 7JB





REGISTERED NUMBER: SC357935 (Scotland)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 447,477 303,325

CURRENT ASSETS
Stocks 39,586 39,500
Debtors 5 31,588 76,027
Cash at bank and in hand 9,296 8,143
80,470 123,670
CREDITORS
Amounts falling due within one year 6 110,170 150,468
NET CURRENT LIABILITIES (29,700 ) (26,798 )
TOTAL ASSETS LESS CURRENT LIABILITIES 417,777 276,527

CREDITORS
Amounts falling due after more than one
year

7

205,640

237,002
NET ASSETS 212,137 39,525

CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 217,986 100,686
Retained earnings (5,851 ) (61,163 )
SHAREHOLDERS' FUNDS 212,137 39,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

BALANCE SHEET - continued
30 APRIL 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 21 October 2024 and were signed on its behalf by:





W S Roomes - Director


HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Highland Aviation Training Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the Going Concern basis, as the Directors and Lenders have given assurances of their ongoing support.

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 in prior years has been provided at rates in order to write off each asset over its estimated useful life.

In the opinion of the directors, the tangible fixed assets are showing a carrying value in excess of those disclosed in the financial statements. Consequently, the tangible fixed assets have been revalued at open market value by the directors.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Aircraft
and Fixtures
flying and Motor Computer
equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 300,156 11,706 22,466 3,459 337,787
Additions 38,990 - - - 38,990
Revaluations 117,300 - - - 117,300
At 30 April 2024 456,446 11,706 22,466 3,459 494,077
DEPRECIATION
At 1 May 2023 15,861 3,779 12,891 1,931 34,462
Charge for year 7,380 1,982 2,394 382 12,138
At 30 April 2024 23,241 5,761 15,285 2,313 46,600
NET BOOK VALUE
At 30 April 2024 433,205 5,945 7,181 1,146 447,477
At 30 April 2023 284,295 7,927 9,575 1,528 303,325

Cost or valuation at 30 April 2024 is represented by:

Aircraft
and Fixtures
flying and Motor Computer
equipment fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2020 46,000 - - - 46,000
Valuation in 2024 117,300 - - - 117,300
Cost 293,146 11,706 22,466 3,459 330,777
456,446 11,706 22,466 3,459 494,077

If tangible fixed assets had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 300,777 298,536
Aggregate depreciation 45,100 175,833

Tangible fixed assets were valued on an open market basis on 30 April 2024 by the Directors .

HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 31,588 76,027

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,678 -
Other loans 20,022 15,789
Trade creditors 39,150 57,272
Social security and other taxes 2,181 2,404
VAT 19,987 23,172
Other creditors 1,142 1,831
Directors' current accounts 25,010 50,000
110,170 150,468

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,682 22,388
Other loans - 1-2 years 18,515 20,022
Other loans - 2-5 years 164,443 184,592
205,640 237,002

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 15,995 15,995
Between one and five years 31,843 47,838
47,838 63,833

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 2 2 2

HIGHLAND AVIATION TRAINING LIMITED (REGISTERED NUMBER: SC357935)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. RESERVES
Revaluation
reserve
£   
At 1 May 2023 100,686
Transfer to revaluation reserve 117,300

At 30 April 2024 217,986