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REGISTERED NUMBER: 05712826 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

TAKE FLIGHT AVIATION LIMITED

TAKE FLIGHT AVIATION LIMITED (REGISTERED NUMBER: 05712826)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TAKE FLIGHT AVIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: M C Plomer-Roberts





SECRETARY: J M Prince





REGISTERED OFFICE: Charter House
Sandford Street
Lichfield
Staffordshire
WS13 6QA





REGISTERED NUMBER: 05712826 (England and Wales)





ACCOUNTANTS: Prince Accountancy
Chartered Certified Accountants
Charter House
Sandford Street
Lichfield
Staffordshire
WS13 6QA

TAKE FLIGHT AVIATION LIMITED (REGISTERED NUMBER: 05712826)

ABRIDGED BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 186,263 204,717
186,263 204,717

CURRENT ASSETS
Debtors 6 17,825 32,473
Cash at bank 344 519
18,169 32,992
CREDITORS
Amounts falling due within one year 19,222 18,725
NET CURRENT (LIABILITIES)/ASSETS (1,053 ) 14,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,210

218,984

CREDITORS
Amounts falling due after more than one
year

(181,803

)

(174,271

)

PROVISIONS FOR LIABILITIES (20,582 ) (28,430 )
NET (LIABILITIES)/ASSETS (17,175 ) 16,283

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (17,275 ) 16,183
SHAREHOLDERS' FUNDS (17,175 ) 16,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TAKE FLIGHT AVIATION LIMITED (REGISTERED NUMBER: 05712826)

ABRIDGED BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





M C Plomer-Roberts - Director


TAKE FLIGHT AVIATION LIMITED (REGISTERED NUMBER: 05712826)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Take Flight Aviation 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

TAKE FLIGHT AVIATION LIMITED (REGISTERED NUMBER: 05712826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 24,000
AMORTISATION
At 1 March 2023
and 29 February 2024 24,000
NET BOOK VALUE

At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 454,193
DEPRECIATION
At 1 March 2023 249,476
Charge for year 18,454
At 29 February 2024 267,930
NET BOOK VALUE
At 29 February 2024 186,263
At 28 February 2023 204,717

Cost or valuation at 29 February 2024 is represented by:

Totals
£   
Valuation in 2017 3,584
Cost 450,609
454,193

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 13,776 30,576