BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts Renting or leasing recreational sports equipment, specefically aircrafts. 27 January 2025 2 2 NI678222 2024-06-30 NI678222 2023-06-30 NI678222 2022-06-30 NI678222 2023-07-01 2024-06-30 NI678222 2022-07-01 2023-06-30 NI678222 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI678222 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI678222 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI678222 uk-bus:FullAccounts 2023-07-01 2024-06-30 NI678222 uk-bus:Director1 2023-07-01 2024-06-30 NI678222 uk-bus:Director2 2023-07-01 2024-06-30 NI678222 uk-bus:RegisteredOffice 2023-07-01 2024-06-30 NI678222 uk-bus:Agent1 2023-07-01 2024-06-30 NI678222 uk-core:ShareCapital 2024-06-30 NI678222 uk-core:ShareCapital 2023-06-30 NI678222 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI678222 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI678222 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI678222 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI678222 uk-bus:FRS102 2023-07-01 2024-06-30 NI678222 uk-core:Goodwill 2023-07-01 2024-06-30 NI678222 uk-core:PlantMachinery 2023-07-01 2024-06-30 NI678222 uk-core:Goodwill 2023-06-30 NI678222 uk-core:Goodwill 2024-06-30 NI678222 uk-core:WithinOneYear 2024-06-30 NI678222 uk-core:WithinOneYear 2023-06-30 NI678222 2023-07-01 2024-06-30 NI678222 uk-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI678222
 
 
Mid Ulster Aviation Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 June 2024
Mid Ulster Aviation Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Paul Thompson
Melaine Thompson
 
 
Company Registration Number NI678222
 
 
Registered Office and Business Address 18 Fairlea Heights
Moneymore
Magherafelt
BT45 7UQ
United Kingdom
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers HSBC UK Bank PLC
  25-29 Royal Avenue
  Belfast
  Co. Antrim
  BT1 1FB
  United Kingdom



Mid Ulster Aviation Ltd
Company Registration Number: NI678222
BALANCE SHEET
as at 30 June 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 4,000 9,000
Tangible assets 5 42,750 -
───────── ─────────
Fixed Assets 46,750 9,000
───────── ─────────
 
Current Assets
Debtors 6 9,000 -
Cash and cash equivalents 5,810 5,689
───────── ─────────
14,810 5,689
───────── ─────────
Creditors: amounts falling due within one year 7 (27,389) (8,019)
───────── ─────────
Net Current Liabilities (12,579) (2,330)
───────── ─────────
Total Assets less Current Liabilities 34,171 6,670
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 34,169 6,668
───────── ─────────
Equity attributable to owners of the company 34,171 6,670
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 27 January 2025 and signed on its behalf by
           
           
________________________________          
Paul Thompson          
Director          
           



Mid Ulster Aviation Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Mid Ulster Aviation Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI678222. The registered office of the company is 18 Fairlea Heights, Moneymore, Magherafelt, BT45 7UQ, United Kingdom which is also the principal place of business of the company. Renting or leasing recreational sports equipment, specefically aircrafts. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 June 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 2.
 
  2024 2023
  Number Number
 
Director 2 2
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 July 2023 15,000 15,000
Disposals (5,000) (5,000)
  ───────── ─────────
At 30 June 2024 10,000 10,000
  ───────── ─────────
Amortisation
At 1 July 2023 6,000 6,000
Charge for financial year 2,000 2,000
On disposals (2,000) (2,000)
  ───────── ─────────
At 30 June 2024 6,000 6,000
  ───────── ─────────
Net book value
At 30 June 2024 4,000 4,000
  ═════════ ═════════
At 30 June 2023 9,000 9,000
  ═════════ ═════════
       
5. Tangible assets
  Plant and Total
  machinery  
     
  £ £
Cost
At 1 July 2023 - -
Additions 45,000 45,000
  ───────── ─────────
At 30 June 2024 45,000 45,000
  ───────── ─────────
Depreciation
At 1 July 2023 - -
Charge for the financial year 2,250 2,250
  ───────── ─────────
At 30 June 2024 2,250 2,250
  ───────── ─────────
Net book value
At 30 June 2024 42,750 42,750
  ═════════ ═════════
       
6. Debtors 2024 2023
  £ £
 
Prepayments and accrued income 9,000 -
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors - 5,000
Amounts owed to connected parties (Note 10) 1,445 1,382
Taxation  (Note 8) 3,262 584
Directors' current accounts 21,519 -
Accruals 1,163 1,053
  ───────── ─────────
  27,389 8,019
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Creditors:
Corporation tax 3,262 584
  ═════════ ═════════
       
9. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 June 2024.
           
10. Related party transactions
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
Kernan Flying School Ltd     1,445 1,382
      ═════════ ═════════
   
11. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.