IRIS Accounts Production v24.3.0.553 07956364 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079563642023-03-31079563642024-03-31079563642023-04-012024-03-31079563642022-03-31079563642022-04-012023-03-31079563642023-03-3107956364ns15:EnglandWales2023-04-012024-03-3107956364ns14:PoundSterling2023-04-012024-03-3107956364ns10:Director12023-04-012024-03-3107956364ns10:Director22023-04-012024-03-3107956364ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107956364ns10:SmallEntities2023-04-012024-03-3107956364ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3107956364ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107956364ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107956364ns10:FullAccounts2023-04-012024-03-3107956364ns10:OrdinaryShareClass12023-04-012024-03-3107956364ns10:RegisteredOffice2023-04-012024-03-3107956364ns5:CurrentFinancialInstruments2024-03-3107956364ns5:CurrentFinancialInstruments2023-03-3107956364ns5:Non-currentFinancialInstruments2024-03-3107956364ns5:Non-currentFinancialInstruments2023-03-3107956364ns5:ShareCapital2024-03-3107956364ns5:ShareCapital2023-03-3107956364ns5:RetainedEarningsAccumulatedLosses2024-03-3107956364ns5:RetainedEarningsAccumulatedLosses2023-03-3107956364ns5:PlantMachinery2023-04-012024-03-3107956364ns5:FurnitureFittings2023-04-012024-03-3107956364ns5:MotorVehicles2023-04-012024-03-3107956364ns5:ComputerEquipment2023-04-012024-03-3107956364ns5:PlantMachinery2023-03-3107956364ns5:FurnitureFittings2023-03-3107956364ns5:MotorVehicles2023-03-3107956364ns5:ComputerEquipment2023-03-3107956364ns5:PlantMachinery2024-03-3107956364ns5:FurnitureFittings2024-03-3107956364ns5:MotorVehicles2024-03-3107956364ns5:ComputerEquipment2024-03-3107956364ns5:PlantMachinery2023-03-3107956364ns5:FurnitureFittings2023-03-3107956364ns5:MotorVehicles2023-03-3107956364ns5:ComputerEquipment2023-03-3107956364ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3107956364ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3107956364ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3107956364ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3107956364ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107956364ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107956364ns10:OrdinaryShareClass12024-03-31079563641ns10:Director12023-03-31079563641ns10:Director12022-03-31079563641ns10:Director12023-04-012024-03-31079563641ns10:Director12022-04-012023-03-31079563641ns10:Director12024-03-31079563641ns10:Director12023-03-3107956364ns10:Director222023-03-3107956364ns10:Director222022-03-3107956364ns10:Director222023-04-012024-03-3107956364ns10:Director222022-04-012023-03-3107956364ns10:Director222024-03-3107956364ns10:Director222023-03-31
REGISTERED NUMBER: 07956364 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Commission Air Limited

Commission Air Limited (Registered number: 07956364)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Commission Air Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr G M Richardson
Mrs G L Richardson





REGISTERED OFFICE: Lancaster House
Lancaster Way
Market Deeping
Peterborough
PE6 8LA





REGISTERED NUMBER: 07956364 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Commission Air Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Commission Air Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Commission Air Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Commission Air Limited and state those matters that we have agreed to state to the Board of Directors of Commission Air Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Commission Air Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Commission Air Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Commission Air Limited. You consider that Commission Air Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Commission Air Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


21 October 2024

Commission Air Limited (Registered number: 07956364)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 377,534 388,891

CURRENT ASSETS
Debtors 5 189,852 262,486
Cash at bank and in hand 67,415 79,227
257,267 341,713
CREDITORS
Amounts falling due within one year 6 198,909 194,177
NET CURRENT ASSETS 58,358 147,536
TOTAL ASSETS LESS CURRENT LIABILITIES 435,892 536,427

CREDITORS
Amounts falling due after more than one year 7 (22,062 ) (41,306 )

PROVISIONS FOR LIABILITIES (94,383 ) (73,889 )
NET ASSETS 319,447 421,232

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 319,445 421,230
SHAREHOLDERS' FUNDS 319,447 421,232

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

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

Commission Air Limited (Registered number: 07956364)

Balance Sheet - continued
31 March 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:




Mrs G L Richardson - Director



Mr G M Richardson - Director


Commission Air Limited (Registered number: 07956364)

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

1. STATUTORY INFORMATION

Commission Air Limited 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.

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 is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 4 years
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on reducing balance

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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.

Commission Air Limited (Registered number: 07956364)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 44,086 6,604 35,888 655,490 742,068
Additions - 1,741 - 35,469 37,210
At 31 March 2024 44,086 8,345 35,888 690,959 779,278
DEPRECIATION
At 1 April 2023 37,517 1,965 14,390 299,305 353,177
Charge for year 2,753 1,275 5,374 39,165 48,567
At 31 March 2024 40,270 3,240 19,764 338,470 401,744
NET BOOK VALUE
At 31 March 2024 3,816 5,105 16,124 352,489 377,534
At 31 March 2023 6,569 4,639 21,498 356,185 388,891

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 35,888
DEPRECIATION
At 1 April 2023 14,390
Charge for year 5,374
At 31 March 2024 19,764
NET BOOK VALUE
At 31 March 2024 16,124
At 31 March 2023 21,498

Commission Air Limited (Registered number: 07956364)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 147,518 130,450
Other debtors 42,334 132,036
189,852 262,486

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 76,667 76,667
Hire purchase contracts 9,244 8,845
Trade creditors 16,564 26,805
Taxation and social security 88,458 76,359
Other creditors 7,976 5,501
198,909 194,177

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 20,000 30,000
Hire purchase contracts 2,062 11,306
22,062 41,306

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs G L Richardson
Balance outstanding at start of year 56,824 75,918
Amounts advanced 54,633 57,406
Amounts repaid (70,000 ) (76,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 41,457 56,824

Mr G M Richardson
Balance outstanding at start of year 69,773 75,919
Amounts advanced 1,023 95,354
Amounts repaid (70,000 ) (101,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 796 69,773