2023-01-012023-12-312023-12-31false06691330JETGLOW AIRCRAFT REFURBISHMENTS LIMITED2024-11-07iso4217:GBPxbrli:pure066913302023-01-01066913302023-12-31066913302023-01-012023-12-31066913302022-01-01066913302022-12-31066913302022-01-012022-12-3106691330bus:SmallEntities2023-01-012023-12-3106691330bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3106691330bus:FullAccounts2023-01-012023-12-3106691330bus:PrivateLimitedCompanyLtd2023-01-012023-12-3106691330core:WithinOneYear2023-12-3106691330core:AfterOneYear2023-12-3106691330core:WithinOneYear2022-12-3106691330core:AfterOneYear2022-12-3106691330core:ShareCapital2023-12-3106691330core:SharePremium2023-12-3106691330core:RevaluationReserve2023-12-3106691330core:OtherReservesSubtotal2023-12-3106691330core:RetainedEarningsAccumulatedLosses2023-12-3106691330core:ShareCapital2022-12-3106691330core:SharePremium2022-12-3106691330core:RevaluationReserve2022-12-3106691330core:OtherReservesSubtotal2022-12-3106691330core:RetainedEarningsAccumulatedLosses2022-12-3106691330core:LandBuildings2023-12-3106691330core:PlantMachinery2023-12-3106691330core:Vehicles2023-12-3106691330core:FurnitureFittings2023-12-3106691330core:OfficeEquipment2023-12-3106691330core:NetGoodwill2023-12-3106691330core:IntangibleAssetsOtherThanGoodwill2023-12-3106691330core:ListedExchangeTraded2023-12-3106691330core:UnlistedNon-exchangeTraded2023-12-3106691330core:LandBuildings2022-12-3106691330core:PlantMachinery2022-12-3106691330core:Vehicles2022-12-3106691330core:FurnitureFittings2022-12-3106691330core:OfficeEquipment2022-12-3106691330core:NetGoodwill2022-12-3106691330core:IntangibleAssetsOtherThanGoodwill2022-12-3106691330core:ListedExchangeTraded2022-12-3106691330core:UnlistedNon-exchangeTraded2022-12-3106691330core:LandBuildings2023-01-012023-12-3106691330core:PlantMachinery2023-01-012023-12-3106691330core:Vehicles2023-01-012023-12-3106691330core:FurnitureFittings2023-01-012023-12-3106691330core:OfficeEquipment2023-01-012023-12-3106691330core:NetGoodwill2023-01-012023-12-3106691330core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106691330core:ListedExchangeTraded2023-01-012023-12-3106691330core:UnlistedNon-exchangeTraded2023-01-012023-12-3106691330core:MoreThanFiveYears2023-01-012023-12-3106691330core:Non-currentFinancialInstruments2023-12-3106691330core:Non-currentFinancialInstruments2022-12-3106691330dpl:CostSales2023-01-012023-12-3106691330dpl:DistributionCosts2023-01-012023-12-3106691330core:LandBuildings2023-01-012023-12-3106691330core:PlantMachinery2023-01-012023-12-3106691330core:Vehicles2023-01-012023-12-3106691330core:FurnitureFittings2023-01-012023-12-3106691330core:OfficeEquipment2023-01-012023-12-3106691330dpl:AdministrativeExpenses2023-01-012023-12-3106691330core:NetGoodwill2023-01-012023-12-3106691330core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106691330dpl:GroupUndertakings2023-01-012023-12-3106691330dpl:ParticipatingInterests2023-01-012023-12-3106691330dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3106691330core:ListedExchangeTraded2023-01-012023-12-3106691330dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3106691330core:UnlistedNon-exchangeTraded2023-01-012023-12-3106691330dpl:CostSales2022-01-012022-12-3106691330dpl:DistributionCosts2022-01-012022-12-3106691330core:LandBuildings2022-01-012022-12-3106691330core:PlantMachinery2022-01-012022-12-3106691330core:Vehicles2022-01-012022-12-3106691330core:FurnitureFittings2022-01-012022-12-3106691330core:OfficeEquipment2022-01-012022-12-3106691330dpl:AdministrativeExpenses2022-01-012022-12-3106691330core:NetGoodwill2022-01-012022-12-3106691330core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3106691330dpl:GroupUndertakings2022-01-012022-12-3106691330dpl:ParticipatingInterests2022-01-012022-12-3106691330dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3106691330core:ListedExchangeTraded2022-01-012022-12-3106691330dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3106691330core:UnlistedNon-exchangeTraded2022-01-012022-12-3106691330core:NetGoodwill2023-12-3106691330core:IntangibleAssetsOtherThanGoodwill2023-12-3106691330core:LandBuildings2023-12-3106691330core:PlantMachinery2023-12-3106691330core:Vehicles2023-12-3106691330core:FurnitureFittings2023-12-3106691330core:OfficeEquipment2023-12-3106691330core:AfterOneYear2023-12-3106691330core:WithinOneYear2023-12-3106691330core:ListedExchangeTraded2023-12-3106691330core:UnlistedNon-exchangeTraded2023-12-3106691330core:ShareCapital2023-12-3106691330core:SharePremium2023-12-3106691330core:RevaluationReserve2023-12-3106691330core:OtherReservesSubtotal2023-12-3106691330core:RetainedEarningsAccumulatedLosses2023-12-3106691330core:NetGoodwill2022-12-3106691330core:IntangibleAssetsOtherThanGoodwill2022-12-3106691330core:LandBuildings2022-12-3106691330core:PlantMachinery2022-12-3106691330core:Vehicles2022-12-3106691330core:FurnitureFittings2022-12-3106691330core:OfficeEquipment2022-12-3106691330core:AfterOneYear2022-12-3106691330core:WithinOneYear2022-12-3106691330core:ListedExchangeTraded2022-12-3106691330core:UnlistedNon-exchangeTraded2022-12-3106691330core:ShareCapital2022-12-3106691330core:SharePremium2022-12-3106691330core:RevaluationReserve2022-12-3106691330core:OtherReservesSubtotal2022-12-3106691330core:RetainedEarningsAccumulatedLosses2022-12-3106691330core:NetGoodwill2022-01-0106691330core:IntangibleAssetsOtherThanGoodwill2022-01-0106691330core:LandBuildings2022-01-0106691330core:PlantMachinery2022-01-0106691330core:Vehicles2022-01-0106691330core:FurnitureFittings2022-01-0106691330core:OfficeEquipment2022-01-0106691330core:AfterOneYear2022-01-0106691330core:WithinOneYear2022-01-0106691330core:ListedExchangeTraded2022-01-0106691330core:UnlistedNon-exchangeTraded2022-01-0106691330core:ShareCapital2022-01-0106691330core:SharePremium2022-01-0106691330core:RevaluationReserve2022-01-0106691330core:OtherReservesSubtotal2022-01-0106691330core:RetainedEarningsAccumulatedLosses2022-01-0106691330core:AfterOneYear2023-01-012023-12-3106691330core:WithinOneYear2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:CostValuation2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3106691330core:Non-currentFinancialInstrumentscore:CostValuation2023-12-3106691330core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-12-3106691330core:Non-currentFinancialInstrumentscore:CostValuation2022-12-3106691330core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-3106691330core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-3106691330core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-3106691330core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-3106691330core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-3106691330core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-3106691330core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-3106691330core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-3106691330bus:Director12023-01-012023-12-3106691330bus:Director22023-01-012023-12-31

JETGLOW AIRCRAFT REFURBISHMENTS LIMITED

Registered Number
06691330
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

JETGLOW AIRCRAFT REFURBISHMENTS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BRUCE, Clare Elizabeth
RUSHFIRTH, Phillip Andrew

Registered Address

C/O Purple Bricks Company Ltd 7 Airport West, Lancaster Way
Yeadon
Leeds
LS19 7ZA

Registered Number

06691330 (England and Wales)
JETGLOW AIRCRAFT REFURBISHMENTS LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets391,45684,168
91,45684,168
Current assets
Stocks451,3893,000
Debtors5273,959243,404
Cash at bank and on hand12,83375,634
338,181322,038
Creditors amounts falling due within one year6(333,392)(219,021)
Net current assets (liabilities)4,789103,017
Total assets less current liabilities96,245187,185
Creditors amounts falling due after one year7(75,823)(162,396)
Provisions for liabilities9-(12,943)
Net assets20,42211,846
Capital and reserves
Called up share capital101101
Profit and loss account20,32111,745
Shareholders' funds20,42211,846
The financial statements were approved and authorised for issue by the Board of Directors on 7 November 2024, and are signed on its behalf by:
RUSHFIRTH, Phillip Andrew
Director
Registered Company No. 06691330
JETGLOW AIRCRAFT REFURBISHMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
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.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.
2.Average number of employees

20232022
Average number of employees during the year2516
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 January 2339,27787,0347,30036,833170,444
Additions-12,40413,2906,10931,803
At 31 December 2339,27799,43820,59042,942202,247
Depreciation and impairment
At 01 January 2318,64743,8136,63017,18686,276
Charge for year5,15812,6119995,74724,515
At 31 December 2323,80556,4247,62922,933110,791
Net book value
At 31 December 2315,47243,01412,96120,00991,456
At 31 December 2220,63043,22167019,64784,168
4.Stocks

2023

2022

££
Raw materials and consumables51,3893,000
Total51,3893,000
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables155,807167,466
Other debtors79,38975,938
Prepayments and accrued income38,763-
Total273,959243,404
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables223,327138,962
Bank borrowings and overdrafts76,75061,750
Taxation and social security24,85115,237
Finance lease and HP contracts3,987-
Other creditors1,526472
Accrued liabilities and deferred income2,9512,600
Total333,392219,021
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included in creditors due within one year are amounts of £76,750 (2022: £61,750) in respect of bank loans which are secured against assets of the company.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts68,102162,396
Other creditors7,721-
Total75,823162,396
Included in creditors due in over one year are amounts of £68,102 (2022: £162,396) in respect of bank loans which are secured against assets of the company.
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts6,977-
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-12,943
Total-12,943
10.Other commitments
At 31 December 2023 the company had future minimum lease payments due within 1 year under non-cancellable operating leases of £2,940 (2022: £5,094) and £5,635 (2022: £8,576) due between 1 - 5 years.
11.Directors advances, credits and guarantees
During the period, the directors had a loan account with the company. On 01 January 2023, the directors owed the company £378. During the year, the company provided loan advanced of £20,000 and the director made repayments of £378. At 31 December 2023, the directors owed the company £20,000.
12.Related party transactions
Included in other debtors is a balance of £12,533 (2022: £12,533) due from Purple Bricks Company Limited, a company with common directors. The company is a subsidiary of PB Jetglow Holdings Limited which is the ultimate parent company, incorporated in the United Kingdom.