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Registration number: NI639140

Avia Project Management Partners Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Avia Project Management Partners Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Avia Project Management Partners Limited

Company Information

Director

Mr David Frizell

Registered office

35 Divernagh Road
Bessbrook
Newry
County Down
BT35 7BW

Bankers

Bank of Ireland
Dundalk
Clanabrassil St
Dundalk
Co Louth

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors & Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

Avia Project Management Partners Limited

(Registration number: NI639140)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

35,109

27,170

Current assets

 

Debtors

5

35,468

30,563

Cash at bank and in hand

 

38,176

77,297

 

73,644

107,860

Creditors: Amounts falling due within one year

6

(71,221)

(77,771)

Net current assets

 

2,423

30,089

Total assets less current liabilities

 

37,532

57,259

Provisions for liabilities

(6,671)

(5,162)

Net assets

 

30,861

52,097

Capital and reserves

 

Called up share capital

7

110

110

Retained earnings

30,751

51,987

Shareholders' funds

 

30,861

52,097

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 March 2025
 

.........................................
Mr David Frizell
Director

   
     
 

Avia Project Management Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
35 Divernagh Road
Bessbrook
Newry
County Down
BT35 7BW
Northern Ireland

These financial statements were authorised for issue by the director on 4 March 2025.

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.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Avia Project Management Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Motor Vehicles

20% Reducing balance

Plant & Machinery

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Avia Project Management Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Avia Project Management Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

3,609

38,500

850

42,959

Additions

1,587

-

40,500

42,087

Disposals

-

(38,500)

-

(38,500)

At 30 June 2024

5,196

-

41,350

46,546

Depreciation

At 1 July 2023

1,623

13,860

306

15,789

Charge for the year

1,299

-

8,209

9,508

Eliminated on disposal

-

(13,860)

-

(13,860)

At 30 June 2024

2,922

-

8,515

11,437

Carrying amount

At 30 June 2024

2,274

-

32,835

35,109

At 30 June 2023

1,986

24,640

544

27,170

5

Debtors

Current

2024
£

2023
£

Trade debtors

22,098

16,772

Other debtors

13,370

13,791

 

35,468

30,563

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

29,170

35,680

Accruals and deferred income

42,051

42,091

71,221

77,771

 

Avia Project Management Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

110

110

110

110

       

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £909.09 (2023 - £803.64) per each Ordinary Share

100,000

88,400

 

 

9

Related party transactions

 

Avia Project Management Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Directors Loan

8,018

138,669

(135,063)

11,624

 

2023

At 1 July 2022
£

Advances to director
£

Other payments made to company by director
£

At 30 June 2023
£

Directors Loan

(2,342)

130,117

(119,757)

8,018

 

 

Avia Project Management Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

10,568

Dividends paid to the director

2024
£

2023
£

Mr David Frizell

Dividends

40,500

44,200