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REGISTERED NUMBER: SC569121 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

P3R Aviation Ltd

P3R Aviation Ltd (Registered number: SC569121)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P3R Aviation Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P Todd





REGISTERED OFFICE: 12 MacTaggart Way
Glenrothes
Fife
KY7 6FA





REGISTERED NUMBER: SC569121 (Scotland)





ACCOUNTANTS: Crichton Mackie Accounting Services Ltd
66 Barntongate Drive
Edinburgh
EH4 8BY

P3R Aviation Ltd (Registered number: SC569121)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,165 3,980

CURRENT ASSETS
Stocks 59,957 55,381
Debtors 5 33,570 41,434
Cash at bank 26,054 11,888
119,581 108,703
CREDITORS
Amounts falling due within one year 6 28,481 42,404
NET CURRENT ASSETS 91,100 66,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,265

70,279

CREDITORS
Amounts falling due after more than
one year

7

(7,333

)

(11,333

)

PROVISIONS FOR LIABILITIES (981 ) (756 )
NET ASSETS 87,951 58,190

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 87,950 58,189
SHAREHOLDERS' FUNDS 87,951 58,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

P3R Aviation Ltd (Registered number: SC569121)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2025 and were signed by:





P Todd - Director


P3R Aviation Ltd (Registered number: SC569121)

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

1. STATUTORY INFORMATION

P3R Aviation Ltd is a private company, limited by shares , registered in Scotland. 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.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

P3R Aviation Ltd (Registered number: SC569121)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 8,104
Additions 3,695
At 30 June 2024 11,799
DEPRECIATION
At 1 July 2023 4,124
Charge for year 2,510
At 30 June 2024 6,634
NET BOOK VALUE
At 30 June 2024 5,165
At 30 June 2023 3,980

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 30,454 41,434
Other debtors 3,116 -
33,570 41,434

P3R Aviation Ltd (Registered number: SC569121)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors - 53
Taxation and social security 11,071 11,104
Other creditors 13,410 27,247
28,481 42,404

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 7,333 11,333

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary 1.00 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director had a loan from the company, of which £3,116 was outstanding at the year end and included in Other Debtors.
Where applicable interest is charged at the HMRC approved rates.