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REGISTERED NUMBER: 08729474 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

IB Aviation Ltd

IB Aviation Ltd (Registered number: 08729474)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IB Aviation Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: I K Baxter





REGISTERED OFFICE: 2 Walsworth Road
HITCHIN
Hertfordshire
SG4 9SP





REGISTERED NUMBER: 08729474 (England and Wales)





ACCOUNTANTS: D and E Accountancy Ltd
Tax Advisors and Accountants
2nd Floor, 2 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP

IB Aviation Ltd (Registered number: 08729474)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,967 15,911

CURRENT ASSETS
Debtors 5 54,643 11,425
Cash at bank 28,336 14,088
82,979 25,513
CREDITORS
Amounts falling due within one year 6 68,860 13,053
NET CURRENT ASSETS 14,119 12,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,086

28,371

CREDITORS
Amounts falling due after more than
one year

7

-

(7,926

)

PROVISIONS FOR LIABILITIES 8 (5,913 ) (1,071 )
NET ASSETS 40,173 19,374

CAPITAL AND RESERVES
Called up share capital 9 5 5
Retained earnings 10 40,168 19,369
SHAREHOLDERS' FUNDS 40,173 19,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

IB Aviation Ltd (Registered number: 08729474)

Balance Sheet - continued
31 October 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 March 2025 and were signed by:





I K Baxter - Director


IB Aviation Ltd (Registered number: 08729474)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

IB Aviation Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

IB Aviation Ltd (Registered number: 08729474)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2023 16,614 23,648 40,262
Additions 24,198 3,705 27,903
At 31 October 2024 40,812 27,353 68,165
DEPRECIATION
At 1 November 2023 8,172 16,179 24,351
Charge for year 8,160 3,687 11,847
At 31 October 2024 16,332 19,866 36,198
NET BOOK VALUE
At 31 October 2024 24,480 7,487 31,967
At 31 October 2023 8,442 7,469 15,911

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 31,535 11,425
Other debtors 23,108 -
54,643 11,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Taxation and social security 27,090 10,575
Other creditors 41,770 2,478
68,860 13,053

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans - 7,926

8. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 5,913 1,071

IB Aviation Ltd (Registered number: 08729474)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 1,071
Charge to Income Statement during year 4,842
Balance at 31 October 2024 5,913

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
4 Ordinary £1 4 5
1 Ordinary A £1 1 -
5 5

During the period one ordinary share was redesignated as an ordinary A share.

10. RESERVES
Retained
earnings
£   

At 1 November 2023 19,369
Profit for the year 108,299
Dividends (87,500 )
At 31 October 2024 40,168