REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2024 |
for |
Air Culinaire Holding Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2024 |
for |
Air Culinaire Holding Limited |
Air Culinaire Holding Limited (Registered number: 07146308) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Air Culinaire Holding Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
101 New Cavendish Street |
London |
W1W 6XH |
Air Culinaire Holding Limited (Registered number: 07146308) |
Statement of Financial Position |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
100 | 169,508 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
(1,301,007 | ) | (839,287 | ) |
The financial statements were approved by the Board of Directors and authorised for issue on |
Air Culinaire Holding Limited (Registered number: 07146308) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Air Culinaire Holding Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The preparation of the financial statements requires the directors to make an assessment of the company's ability to continue as a going concern. The company is in a net deficit position and is reliant on the continuing support of its shareholders and other group entities in order to meet its short-term working capital requirements. The directors are confident that support from these parties will continue. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. |
Preparation of consolidated financial statements |
The financial statements contain information about Air Culinaire Holding Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost, less provision for impairment. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date. |
Air Culinaire Holding Limited (Registered number: 07146308) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
Impairments | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The fixed asset investment comprises the ownership of 100% of the issued share capital of Air Culinaire Worldwide France SARL. |
Air Culinaire Holding Limited (Registered number: 07146308) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Social security and other taxes |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
Air Culinaire Holding Limited (Registered number: 07146308) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | RELATED PARTY DISCLOSURES |
The company is a subsidiary of Air Culinaire Worldwide LLC, which is itself a subsidiary of GEERA Holdings LLC. Universal Weather and Aviation LLC is also a subsidiary of GEERA Holdings LLC. |
Mr P Schweitzer, Ms D Barcus and Mr C Smith, who were all directors of the company during the year, were also directors of Air Culinaire Worldwide France SARL, and of Air Culinaire Worldwide (UK) Limited, which is a fellow subsidiary of Air Culinaire Worldwide LLC. |
Mr Smith and Ms Barcus resigned during the year and Mrs A Thayer and Mr J Lee were appointed to replace them as directors of the company Air Culinaire Holding Limited and its subsidiary Air Culinaire France SARL as well as Air Culinaire Worldwide (UK) Limited. |
The directors have assessed the recoverability of the loan to Air Culinaire Worldwide France SARL and have |
recognised a provision against a proportion of the outstanding balance. |
At the balance sheet date, the amounts outstanding were as follows: |
2024 | 2023 |
Due from |
Due to |
Due from |
Due to |
£ | £ | £ | £ |
Air Culinaire Worldwide France SARL | 22,603 | - | 256,398 | - |
Air Culinaire Worldwide LLC | - | 913,526 | - | 838,613 |
Air Culinaire Worldwide (UK) Limited | 180,052 | - | 176,374 | - |
Universal Weather & Aviation LLC | - | 611,107 | - | 593,068 |
202,655 | 1,524,633 | 432,772 | 1,431,681 |
The accounts of Air Culinaire Holding Limited are included in the consolidated financial statements of Air Culinaire Worldwide LLC whose registered office address is 5830 West Cypress Street, Suite B& C, Tampa, Florida, 33607. |
9. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the directors of Air Culinaire Worldwide LLC. |