Registration number:
GB Air Control Limited
for the
Year Ended 30 September 2024
GB Air Control Limited
Contents
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Unaudited Financial Statements |
GB Air Control Limited
Balance Sheet
as at 30 September 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks and work in progress |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Capital redemption reserve |
|
- |
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
Registration number: 04095187
GB Air Control Limited
Balance Sheet
as at 30 September 2024 (continued)
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
GB Air Control Limited
Statement of Changes in Equity
for the
Year Ended 30 September 2024
Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
|
At 1 October 2023 |
1,000 |
- |
210,711 |
211,711 |
Profit for the year |
- |
- |
|
|
Total comprehensive income |
- |
- |
|
|
Dividends |
- |
- |
( |
( |
Purchase of own share capital |
(250) |
250 |
(25,000) |
(25,000) |
(250) |
250 |
97,430 |
97,430 |
|
At 30 September 2024 |
|
|
|
|
Share capital |
Profit and loss account |
Total |
|
At 1 October 2022 |
1,000 |
207,565 |
208,565 |
Profit for the year |
- |
|
|
Total comprehensive income |
- |
|
|
Dividends |
- |
( |
( |
- |
3,146 |
3,146 |
|
At 30 September 2023 |
|
|
|
GB Air Control Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 September 2024
General information |
The company is a private company limited by shares incorporated in England within the United Kingdom.
The company's registration number is 04095187.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.
GB Air Control Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 September 2024
(continued)
2 |
Accounting policies (continued) |
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Additions to leasehold property |
Straight line over the life of the lease |
Plant and machinery |
25% per annum on a straight line basis |
Fixtures, fittings and equipment |
25% per annum on a straight line basis |
Motor vehicles |
25% per annum on a straight line basis |
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. The cost of work in progress includes all direct costs and an appropriate proportion of fixed and variable overheads.
Defined contribution pension obligation
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.
GB Air Control Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 September 2024
(continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Additions to leasehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
Cost |
|||||
At 1 October 2023 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Disposals |
- |
- |
( |
( |
( |
At 30 September 2024 |
|
|
|
|
|
Depreciation |
|||||
At 1 October 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
( |
At 30 September 2024 |
|
|
|
|
|
Net book value |
|||||
At 30 September 2024 |
|
|
|
|
|
At 30 September 2023 |
|
|
|
|
|
GB Air Control Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 September 2024
(continued)
Debtors |
2024 |
2023 |
|
Trade debtors |
|
|
Prepayments and accrued income |
15,020 |
15,567 |
|
|
Creditors |
2024 |
2023 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Corporation tax liability |
87,538 |
24,247 |
Accruals and deferred income |
|
|
Other creditors |
|
|
Directors' loan accounts |
93,948 |
115,143 |
|
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £