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REGISTERED NUMBER: 01494690 (England and Wales)
























LONDON AIR HIRE COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






LONDON AIR HIRE COMPANY LIMITED (REGISTERED NUMBER: 01494690)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


LONDON AIR HIRE COMPANY LIMITED (REGISTERED NUMBER: 01494690)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,033,834 960,738

CURRENT ASSETS
Debtors 5 687,456 575,475
Cash at bank 1,328,069 1,186,787
2,015,525 1,762,262
CREDITORS
Amounts falling due within one year 6 178,952 94,717
NET CURRENT ASSETS 1,836,573 1,667,545
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,870,407

2,628,283

PROVISIONS FOR LIABILITIES 258,459 183,000
NET ASSETS 2,611,948 2,445,283

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,611,748 2,445,083
2,611,948 2,445,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:





S Peters - Director


LONDON AIR HIRE COMPANY LIMITED (REGISTERED NUMBER: 01494690)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

London Air Hire Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01494690

Registered office: Unit 3 GTEC House.
Canning Road
Stratford
London
E15 3NY

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

LONDON AIR HIRE COMPANY LIMITED (REGISTERED NUMBER: 01494690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 2,006,603 11,007 280,292 2,297,902
Additions 191,537 2,673 52,695 246,905
Disposals (72,979 ) - (39,567 ) (112,546 )
At 30 April 2024 2,125,161 13,680 293,420 2,432,261
DEPRECIATION
At 1 May 2023 1,184,512 1,007 151,645 1,337,164
Charge for year 95,702 1,368 42,886 139,956
Eliminated on disposal (39,129 ) - (39,564 ) (78,693 )
At 30 April 2024 1,241,085 2,375 154,967 1,398,427
NET BOOK VALUE
At 30 April 2024 884,076 11,305 138,453 1,033,834
At 30 April 2023 822,091 10,000 128,647 960,738

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 687,456 575,475

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 105,392 81,165
Taxation and social security 70,310 10,302
Other creditors 3,250 3,250
178,952 94,717

7. RELATED PARTY DISCLOSURES

During the year, there was an intercompany debt from G T Compressors Limited and GTEC Group Limited, which are fellow subsidiary companies of GTEC Group. S Peters is a director of each company. The debt has arisen following intercompany trading at normal commercial rates. Amount due from G T Compressors Limited £227,060 (2023: £113,675). Amount due from GTEC Group Limited £460,396 (2023: £460,396).

Purchases from GTEC Group Ltd £0 (2023: £0)
Purchases from GT Compressors Limited £191,537 (2023: £206,480)
Sales to GT Compressors Limited £526,826 (2023: £493,702)

8. ULTIMATE CONTROLLING PARTY

During the year, S Peters, director, together with members of their close family, controlled the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued share capital of GTEC Group Limited, the holding company that owns 100% of the share capital of London Air Hire Company Limited.