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Registered number: 03359905
R.E.P. Air Services Limited
Financial Statements
For The Year Ended 31 March 2024
Cound & Co LLP
Chartered Accountants
1 Princes Court Royal Way
Loughborough
LE11 5XR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03359905
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 186,298 167,540
186,298 167,540
CURRENT ASSETS
Stocks 5 330,857 257,139
Debtors 6 365,142 240,293
Cash at bank and in hand 933,533 612,437
1,629,532 1,109,869
Creditors: Amounts Falling Due Within One Year 7 (357,400 ) (163,378 )
NET CURRENT ASSETS (LIABILITIES) 1,272,132 946,491
TOTAL ASSETS LESS CURRENT LIABILITIES 1,458,430 1,114,031
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,369 ) (26,117 )
NET ASSETS 1,415,061 1,087,914
CAPITAL AND RESERVES
Called up share capital 8 20 20
Capital redemption reserve 80 80
Profit and Loss Account 1,414,961 1,087,814
SHAREHOLDERS' FUNDS 1,415,061 1,087,914
Page 1
Page 2
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 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.
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
Mr S G Bott
Director
6th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
R.E.P. Air Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03359905 . The registered office is 1 Princes Court, Royal Way, Loughborough, Leicestershire, LE11 5XR.
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 the rate of 25% of the reducing balance to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives.
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Hire Of Equipment 25% reducing balance
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. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered a net liability may crystallise.

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3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Hire Of Equipment Total
£ £ £ £
Cost
As at 1 April 2023 183,740 62,504 165,059 411,303
Additions 27,716 46,132 2,183 76,031
Disposals (32,825 ) (2,001 ) (7,100 ) (41,926 )
As at 31 March 2024 178,631 106,635 160,142 445,408
Depreciation
As at 1 April 2023 124,391 27,808 91,564 243,763
Provided during the period 18,616 12,701 18,129 49,446
Disposals (29,465 ) (876 ) (3,758 ) (34,099 )
As at 31 March 2024 113,542 39,633 105,935 259,110
Net Book Value
As at 31 March 2024 65,089 67,002 54,207 186,298
As at 1 April 2023 59,349 34,696 73,495 167,540
5. Stocks
2024 2023
£ £
Stock 330,857 257,139
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 363,115 237,603
Prepayments and accrued income 1,227 1,077
Other debtors 800 1,613
365,142 240,293
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 178,668 98,900
Corporation tax 115,814 39,362
Other taxes and social security 11,637 -
VAT 24,767 13,275
Accruals and deferred income 26,514 11,841
357,400 163,378
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
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