35 false false false false false false false false false false true false false false false true true No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 2,601 873 3,474 392 347 739 2,735 2,209 xbrli:pure xbrli:shares iso4217:GBP 10141677 2023-04-01 2024-03-31 10141677 2024-03-31 10141677 2023-03-31 10141677 2022-04-01 2023-03-31 10141677 2023-03-31 10141677 2022-03-31 10141677 core:PlantMachinery 2023-04-01 2024-03-31 10141677 bus:Director1 2023-04-01 2024-03-31 10141677 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 10141677 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 10141677 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 10141677 core:PlantMachinery 2023-03-31 10141677 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 10141677 core:PlantMachinery 2024-03-31 10141677 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 10141677 core:WithinOneYear 2024-03-31 10141677 core:WithinOneYear 2023-03-31 10141677 core:ShareCapital 2024-03-31 10141677 core:ShareCapital 2023-03-31 10141677 core:RetainedEarningsAccumulatedLosses 2024-03-31 10141677 core:RetainedEarningsAccumulatedLosses 2023-03-31 10141677 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 10141677 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 10141677 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 10141677 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 10141677 core:Non-currentFinancialInstruments 2024-03-31 10141677 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-03-31 10141677 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 10141677 core:PlantMachinery 2023-03-31 10141677 bus:Director1 2023-03-31 10141677 bus:Director1 2022-03-31 10141677 bus:SmallEntities 2023-04-01 2024-03-31 10141677 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10141677 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10141677 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10141677 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10141677
AIRLINEN LTD
Filleted Unaudited Financial Statements
31 March 2024
AIRLINEN LTD
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
2,735
2,209
Tangible assets
6
9,179
12,239
Investments
7
29,500
--------
--------
41,414
14,448
Current assets
Stocks
70,125
35,346
Debtors
8
24,625
23,125
Cash at bank and in hand
1,023,387
702,332
------------
---------
1,118,137
760,803
Creditors: amounts falling due within one year
9
683,859
303,150
------------
---------
Net current assets
434,278
457,653
---------
---------
Total assets less current liabilities
475,692
472,101
---------
---------
Net assets
475,692
472,101
---------
---------
Capital and reserves
Called up share capital
400
400
Profit and loss account
475,292
471,701
---------
---------
Shareholders funds
475,692
472,101
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AIRLINEN LTD
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 7 March 2025 , and are signed on behalf of the board by:
Nima Ghodrati
Director
Company registration number: 10141677
AIRLINEN LTD
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Videk House, Building 2, Kingsbury Road, NW9 8RW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
Straight line over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
Straight line over 3 years
Plant and machinery
-
25% reducing balance
Software Development
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 35 (2023: 30 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 April 2023
2,601
Additions
873
-------
At 31 March 2024
3,474
-------
Amortisation
At 1 April 2023
392
Charge for the year
347
-------
At 31 March 2024
739
-------
Carrying amount
At 31 March 2024
2,735
-------
At 31 March 2023
2,209
-------
6. Tangible assets
Short leasehold property
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
3,363
11,651
23,040
38,054
-------
--------
--------
--------
Depreciation
At 1 April 2023
3,362
6,703
15,750
25,815
Charge for the year
1,237
1,823
3,060
-------
--------
--------
--------
At 31 March 2024
3,362
7,940
17,573
28,875
-------
--------
--------
--------
Carrying amount
At 31 March 2024
1
3,711
5,467
9,179
-------
--------
--------
--------
At 31 March 2023
1
4,948
7,290
12,239
-------
--------
--------
--------
7. Investments
Shares in group undertakings
Loans to group undertakings
Total
£
£
£
Cost
At 1 April 2023
Additions
100
29,500
29,600
Disposals
( 100)
(100)
----
--------
--------
At 31 March 2024
100
29,400
29,500
----
--------
--------
Impairment
At 1 April 2023 and 31 March 2024
----
--------
--------
Carrying amount
At 31 March 2024
100
29,400
29,500
----
--------
--------
At 31 March 2023
----
--------
--------
8. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
400
400
Other debtors
24,225
22,725
--------
--------
24,625
23,125
--------
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,750
19,924
Corporation tax
375,965
146,281
Social security and other taxes
216,127
108,775
Other creditors
76,017
28,170
---------
---------
683,859
303,150
---------
---------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Nima Ghodrati
9,600
9,600
-------
-------
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.
12. Controlling party
The company is owned by Back of the shop Ltd, its holding company undertaking, which is incorporated in England and Wales and whose company registration number is 13860495 and Nima Ghodrati is director and share holder of this company.