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Registration number: 04095187

GB Air Control Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

GB Air Control Limited

Contents

Balance Sheet

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

GB Air Control Limited

Balance Sheet

as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

98,862

42,899

Current assets

 

Stocks and work in progress

42,661

36,443

Debtors

5

153,879

136,261

Cash at bank and in hand

 

341,568

202,385

 

538,108

375,089

Creditors: Amounts falling due within one year

6

(308,453)

(201,671)

Net current assets

 

229,655

173,418

Total assets less current liabilities

 

328,517

216,317

Provisions for liabilities

(19,376)

(4,606)

Net assets

 

309,141

211,711

Capital and reserves

 

Called up share capital

750

1,000

Capital redemption reserve

250

-

Retained earnings

308,141

210,711

Shareholders' funds

 

309,141

211,711

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 28 February 2025 and signed on its behalf by:
 

.........................................
Mrs J A Bottomley
Director

 

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

-

-

302,656

302,656

Total comprehensive income

-

-

302,656

302,656

Dividends

-

-

(180,226)

(180,226)

Purchase of own share capital

(250)

250

(25,000)

(25,000)

 

(250)

250

97,430

97,430

At 30 September 2024

750

250

308,141

309,141


 

Share capital
£

Profit and loss account
£

Total
£

At 1 October 2022

1,000

207,565

208,565

Profit for the year

-

105,828

105,828

Total comprehensive income

-

105,828

105,828

Dividends

-

(102,682)

(102,682)

 

-

3,146

3,146

At 30 September 2023

1,000

210,711

211,711

 

GB Air Control Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024

1

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:
Unit 14a Moderna Business Park
Moderna Way
Mytholmroyd
Hebden Bridge
West Yorkshire
HX7 5QQ

2

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)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

4

Tangible assets

Additions to leasehold property
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost

At 1 October 2023

4,011

14,855

137,313

42,183

198,362

Additions

-

80

73,615

9,528

83,223

Disposals

-

-

(86,967)

(2,368)

(89,335)

At 30 September 2024

4,011

14,935

123,961

49,343

192,250

Depreciation

At 1 October 2023

2,301

10,027

107,752

35,383

155,463

Charge for the year

1,207

1,696

20,252

4,105

27,260

Eliminated on disposal

-

-

(86,967)

(2,368)

(89,335)

At 30 September 2024

3,508

11,723

41,037

37,120

93,388

Net book value

At 30 September 2024

503

3,212

82,924

12,223

98,862

At 30 September 2023

1,710

4,828

29,561

6,800

42,899

 

GB Air Control Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 September 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

138,859

120,694

Prepayments and accrued income

15,020

15,567

153,879

136,261

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

22,464

27,306

Taxation and social security

69,080

26,215

Corporation tax liability

87,538

24,247

Accruals and deferred income

5,250

4,099

Other creditors

30,173

4,661

Directors' loan accounts

93,948

115,143

308,453

201,671

7

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 £7,312 (2023 - £24,862).