Registered number
07039632
Air Alliance Limited
Report and Accounts
31 October 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Air Alliance Limited
Registered number: 07039632
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,658 2,918
Current assets
Debtors 4 59,399 58,973
Cash at bank and in hand 180,744 166,359
240,143 225,332
Creditors: amounts falling due within one year 5 (138,167) (146,068)
Net current assets 101,976 79,264
Total assets less current liabilities 132,634 82,182
Provisions for liabilities (7,665) (730)
Net assets 124,969 81,452
Capital and reserves
Called up share capital 22 22
Profit and loss account 124,947 81,430
Shareholders' funds 124,969 81,452
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Daniel Watt
Director
Approved by the board on 10 February 2025
Air Alliance Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% straight line
Office equipment 20% reducing balance
Motor Vehicles 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor Vehicle Computer Equipment Office Equipment Total
£ £ £ £
Cost
At 1 November 2023 19,792 4,846 1,283 25,921
Additions 36,995 1,181 2,834 41,010
Disposals (19,792) - - (19,792)
At 31 October 2024 36,995 6,027 4,117 47,139
Depreciation
At 1 November 2023 16,974 4,846 1,183 23,003
Charge for the year 9,248 394 809 10,451
On disposals (16,973) - - (16,973)
At 31 October 2024 9,249 5,240 1,992 16,481
Net book value
At 31 October 2024 27,746 787 2,125 30,658
At 31 October 2023 2,818 - 100 2,918
4 Debtors 2024 2023
£ £
Trade debtors 57,473 56,039
Other debtors 1,926 2,934
59,399 58,973
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 28,359 32,760
Other taxes and social security costs 18,381 20,714
Other creditors 91,427 92,594
138,167 146,068
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