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Registered number: 03858468










HELIAVIATION LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023



 
HELIAVIATION LTD
REGISTERED NUMBER: 03858468

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
138,742
148,227

Investments
 5 
21,607
21,607

  
160,349
169,834

Current assets
  

Debtors: amounts falling due within one year
 6 
2,718,167
2,648,280

Cash at bank and in hand
 7 
20,782
21,670

  
2,738,949
2,669,950

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(4,976,522)
(5,008,390)

Total assets less current liabilities
  
 
 
(2,077,224)
 
 
(2,168,606)

  

Net liabilities
  
(2,077,224)
(2,168,606)


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
(2,077,226)
(2,168,608)

  
(2,077,224)
(2,168,606)


Page 1

 
HELIAVIATION LTD
REGISTERED NUMBER: 03858468

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Nicholl
Director

Date: 28 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HELIAVIATION LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Heliaviation Ltd is a private company, limited by share capital and incorporated in England and Wales. The registered office of the company is: Aldern Bridge House, Aldern Bridge, Adbury, Newbury, Hampshire, RG20 4HQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have committed to providing sufficient support to the company to enable it to continue for a period of at least twelve months from when the financial statements are signed.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
HELIAVIATION LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
5 years
Buildings
-
20 years
Equipment
-
5 years
Computer equipment
-
5 years

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees



The company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 4

 
HELIAVIATION LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Buildings
Plant and machinery
Equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
156,261
34,224
4,045
2,289
196,819


Additions
-
-
175
-
175



At 31 December 2023

156,261
34,224
4,220
2,289
196,994



Depreciation


At 1 January 2023
14,369
32,287
1,058
878
48,592


Charge for the year on owned assets
7,813
554
835
458
9,660



At 31 December 2023

22,182
32,841
1,893
1,336
58,252



Net book value



At 31 December 2023
134,079
1,383
2,327
953
138,742



At 31 December 2022
141,892
1,937
2,987
1,411
148,227


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
21,607



At 31 December 2023
21,607




Page 5

 
HELIAVIATION LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
2,404
686

Amounts owed by group undertakings
2,714,840
2,645,699

Other debtors
-
1,086

Prepayments and accrued income
923
809

2,718,167
2,648,280



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
20,782
21,670



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,257
3,001

Other taxation and social security
5,814
3,610

Other creditors
4,964,968
4,996,438

Accruals and deferred income
4,483
5,341

4,976,522
5,008,390



9.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



10.


Related party transactions

Included within other creditors is an amount of £4,962,938 (2022: £4,996,438) owed by the company to the directors. The loan is interest free and repayable on demand.
Included within other debtors is an amount of £2,714,840 (2022: £2,645,699) owed to the company by Heliaviation Internacional SL, a wholly owned subsidiary of the company. The loan is repayable on demand and interest of £69,141 (2022: £70,539) has been charged in the year.


Page 6