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Registered number: 04033905
Skylink Aviation Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Merranti Accounting Ltd
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—6
Page 1
Company Information
Director V B Aven
Secretary P D Aven
Company Number 04033905
Registered Office 10 Scandia Hus Business Park, Felcourt Road
Felcourt
East Grinstead
West Sussex
RH19 2LP
Accountants Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
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Accountants' Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Skylink Aviation Limited for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the director of Skylink Aviation Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Skylink Aviation Limited and state those matters that we have agreed to state to the director of Skylink Aviation Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Skylink Aviation 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 Skylink Aviation Limited . You consider that Skylink Aviation 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 Skylink Aviation 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.
Signed
Merranti Accounting Ltd
4 October 2024
Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
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Balance Sheet
Registered number: 04033905
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,227 1,855
4,227 1,855
CURRENT ASSETS
Stocks 1,800 2,100
Debtors 5 3,169 800
Cash at bank and in hand 27,599 881
32,568 3,781
Creditors: Amounts Falling Due Within One Year 6 (19,464 ) (5,524 )
NET CURRENT ASSETS (LIABILITIES) 13,104 (1,743 )
TOTAL ASSETS LESS CURRENT LIABILITIES 17,331 112
NET ASSETS 17,331 112
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 17,231 12
SHAREHOLDERS' FUNDS 17,331 112
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
V B Aven
Director
4 October 2024
The notes on pages 5 to 6 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Skylink Aviation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04033905 . The registered office is 10 Scandia Hus Business Park, Felcourt Road, Felcourt, East Grinstead, West Sussex, RH19 2LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing Balance Method
Computer Equipment 25% Reducing Balance Method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees
Average number of employees, including directors not under contract, during the year was as follows: 2 (2023: 2)
2 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 6,512 608 7,120
Additions - 3,953 3,953
Disposals (409 ) - (409 )
As at 31 March 2024 6,103 4,561 10,664
Depreciation
As at 1 April 2023 5,113 152 5,265
Provided during the period 307 1,102 1,409
Disposals (237 ) - (237 )
As at 31 March 2024 5,183 1,254 6,437
Net Book Value
As at 31 March 2024 920 3,307 4,227
As at 1 April 2023 1,399 456 1,855
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 3,169 800
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 112 1,619
Bank loans and overdrafts 3,146 1,669
Other creditors 6,082 46
Taxation and social security 10,124 2,190
19,464 5,524
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Victor Aven 756 22,225 (23,063 ) - (5,082 )
The above loan is unsecured, interest free and repayable on demand. The loan was repaid within 9 months.
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