GMK AVIATION SERVICES LIMITED

Company Registration Number:
SC638071 (Scotland)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 September 2022

End date: 31 December 2023

GMK AVIATION SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

GMK AVIATION SERVICES LIMITED

Balance sheet

As at 31 December 2023


Notes

16 months to 31 December 2023

2022


£

£
Fixed assets
Tangible assets: 3 0 1,268,750
Total fixed assets: 0 1,268,750
Current assets
Debtors:   0 0
Cash at bank and in hand: 0 4
Total current assets: 0 4
Creditors: amounts falling due within one year:   (65,880) (232,232)
Net current assets (liabilities): (65,880) (232,228)
Total assets less current liabilities: (65,880) 1,036,522
Total net assets (liabilities): (65,880) 1,036,522
Capital and reserves
Called up share capital: 10,000 10,000
Revaluation reserve:40760,352
Profit and loss account: (75,880) 266,170
Shareholders funds: (65,880) 1,036,522

The notes form part of these financial statements

GMK AVIATION SERVICES LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 March 2025
and signed on behalf of the board by:

Name: G B Paterson
Status: Director

The notes form part of these financial statements

GMK AVIATION SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GMK AVIATION SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

16 months to 31 December 2023 2022
Average number of employees during the period 0 0

GMK AVIATION SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 September 2022 1,501,401
Revaluations (1,265,650)
At 31 December 2023 235,751
Depreciation
At 01 September 2022 232,651
Charge for year 3,100
At 31 December 2023 235,751
Net book value
At 31 December 2023 0
At 31 August 2022 1,268,750

The fixed assets are made up of 3 planes. The planes are not currently airworthy and thus not operational. Consequently a revaluation of the assets for an impairment of £1,265,650 has been included. Repairs and additional equipment will be required to make the planes operational. The Director is in the process of reviewing the feasibility of making an insurance as well as other claims in order to determine if any of the planes can pass regulatory requirements.

GMK AVIATION SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Revaluation reserve

16 months to 31 December 2023
£
Balance at 01 September 2022 760,352
Surplus or deficit after revaluation (760,352)
Balance at 31 December 2023 0

The revaluation reserve reduction is caused by the impairment of the planes included in fixed assets.