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Company Registration No. 12495263 (England and Wales)
Global Aviation Consultancy Ltd Unaudited accounts for the period from 1 March 2023 to 28 February 2024
Global Aviation Consultancy Ltd Unaudited accounts Contents
Page
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Global Aviation Consultancy Ltd Statement of financial position as at 28 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
293,950 
374,121 
Current assets
Inventories
247,227 
307,000 
Debtors
1,694,496 
562,215 
Cash at bank and in hand
150,923 
832,306 
2,092,646 
1,701,521 
Creditors: amounts falling due within one year
(2,370,213)
(2,034,017)
Net current liabilities
(277,567)
(332,496)
Total assets less current liabilities
16,383 
41,625 
Creditors: amounts falling due after more than one year
(12,487)
(23,500)
Provisions for liabilities
Deferred tax
- 
(1,970)
Net assets
3,896 
16,155 
Capital and reserves
Called up share capital
5 
5 
Profit and loss account
3,891 
16,150 
Shareholders' funds
3,896 
16,155 
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by
Jason Green Director Company Registration No. 12495263
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Global Aviation Consultancy Ltd Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
1
Statutory information
Global Aviation Consultancy Ltd is a private company, limited by shares, registered in England and Wales, registration number 12495263. The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Computer equipment
25% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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Global Aviation Consultancy Ltd Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
1,971 
396,122 
15,151 
413,244 
Additions
1,920 
20,000 
3,109 
25,029 
At 28 February 2024
3,891 
416,122 
18,260 
438,273 
Depreciation
At 1 March 2023
123 
32,511 
6,489 
39,123 
Charge for the period
613 
100,281 
4,306 
105,200 
At 28 February 2024
736 
132,792 
10,795 
144,323 
Net book value
At 28 February 2024
3,155 
283,330 
7,465 
293,950 
At 28 February 2023
1,848 
363,611 
8,662 
374,121 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
17,866 
83,583 
Trade debtors
1,659,917 
363,929 
Accrued income and prepayments
1,000 
- 
Other debtors
15,713 
114,703 
1,694,496 
562,215 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
9,000 
Trade creditors
1,684,223 
1,597,440 
Taxes and social security
20,859 
12,539 
Other creditors
655,131 
415,038 
2,370,213 
2,034,017 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,487 
23,500 
8
Average number of employees
During the period the average number of employees was 2 (2023: 3).
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