Burel Air Limited 03520148 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of corporate hospitality, marketing and market research specialising in the aviation markets Digita Accounts Production Advanced 6.30.9574.0 true true 03520148 2023-04-01 2024-03-31 03520148 2024-03-31 03520148 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03520148 bus:SmallEntities 2023-04-01 2024-03-31 03520148 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03520148 bus:FullAccounts 2023-04-01 2024-03-31 03520148 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03520148 bus:RegisteredOffice 2023-04-01 2024-03-31 03520148 bus:Director1 2023-04-01 2024-03-31 03520148 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03520148 countries:EnglandWales 2023-04-01 2024-03-31 03520148 2022-04-01 2023-03-31 03520148 2023-03-31 03520148 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03520148

Prepared for the registrar

Burel Air Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Burel Air Limited

(Registration number: 03520148)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

1,486

7,316

Creditors: Amounts falling due within one year

4

(893)

(1,085)

Net assets

 

593

6,231

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

493

6,131

Shareholders' funds

 

593

6,231

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 November 2024
 

.........................................
C Burel
Director

   
     
 

Burel Air Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hanger Se38
Gloucestershire Airport
Cheltenham
GL51 6SP

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Burel Air Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

4

Creditors

2024
 £

2023
 £

Due within one year

Trade creditors

-

216

Amounts due to related parties

497

497

Accrued expenses

396

372

893

1,085