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Smarter Air Charter Ltd
Registered Number:04890694
For the year ended 31 August 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 August 2024
Smarter Air Charter Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04890694
As at 31 August 2024
Smarter Air Charter Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
1
1
2
Property, plant and equipment
31,782
485
3
31,783
486
Current assets
Trade and other receivables
28,050
89,240
5
67,095
Cash and cash equivalents
175,873
265,113
95,145
Trade and other payables: amounts falling due within one
year
(55,682)
(177,947)
6
39,463
87,166
Net current assets
Total assets less current liabilities
118,949
39,949
Trade and other payables: amounts falling due after more
than one year
(27,756)
(25,321)
7
93,628
Net assets
12,193
Capital and reserves
Called up share capital
4
4
Retained earnings
93,624
12,189
93,628
12,193
Shareholders' funds
For the year ended 31 August 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Peter Lynch Williams Director
These financial statements were approved and authorised for issue by the Board on 07 March 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 August 2024
Smarter Air Charter Ltd
Notes to the Financial Statements
Statutory Information
Smarter Air Charter Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04890694.
Registered address:
9 Malvern Road
Worcester
Worcestershire
WR2 4LE
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20 Reducing balance
Computer equipment
25 Reducing balance
Motor vehicles
20 Reducing balance
Fixtures and fittings
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
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5
For the year ended 31 August 2024
Smarter Air Charter Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Other
Intangible
Assets
Cost or valuation
£
At 01 September 2023
729
At 31 August 2024
729
Amortisation
At 01 September 2023
728
At 31 August 2024
728
Net book value
At 31 August 2024
1
At 31 August 2023
1
3. Property, plant and equipment
Total
Computer
equipment
Motor vehicles
£
£
£
Cost or
valuation
At 01 September 2023
6,526
6,526
-
39,243
2,248
36,995
Additions
At 31 August 2024
36,995
8,774
45,769
Provision for depreciation and impairment
At 01 September 2023
6,041
6,041
-
Charge for year
7,946
547
7,399
At 31 August 2024
13,987
6,588
7,399
At 31 August 2024
Net book value
29,596
2,186
31,782
At 31 August 2023
-
485
485
4. Inventories
Stock is valued at the lower of cost and net realisable value.
5. Trade and other receivables
2023
2024
£
£
Trade debtors
54,949
14,950
Other debtors
34,291
13,100
28,050
89,240
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6
For the year ended 31 August 2024
Smarter Air Charter Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
-
2,000
Taxation and social security
26,140
68
Other creditors
151,807
53,614
177,947
55,682
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
25,321
27,756
8. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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