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REGISTERED NUMBER: 06773252 (England and Wales)















Audited Financial Statements for the Year Ended 30 June 2024

for

Air Culinaire Worldwide UK Limited

Air Culinaire Worldwide UK Limited (Registered number: 06773252)






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 Worldwide UK Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P M Schweitzer
JL Lee
AT Thayer





REGISTERED OFFICE: Second Floor
Curzon House
Banstead
Surrey
SM7 2LJ





REGISTERED NUMBER: 06773252 (England and Wales)





AUDITORS: Harris & Trotter LLP
Chartered Accountants
Statutory Auditors
101 New Cavendish Street
London
W1W 6XH

Air Culinaire Worldwide UK Limited (Registered number: 06773252)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,937 29,682
Tangible assets 5 397,393 466,708
421,330 496,390

CURRENT ASSETS
Inventories 66,858 62,636
Debtors 6 1,009,605 965,775
Cash at bank 155,634 133,457
1,232,097 1,161,868
CREDITORS
Amounts falling due within one year 7 1,195,441 1,110,179
NET CURRENT ASSETS 36,656 51,689
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,986

548,079

PROVISIONS FOR LIABILITIES 9 42,091 54,086
NET ASSETS 415,895 493,993

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 415,894 493,992
SHAREHOLDERS' FUNDS 415,895 493,993

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





AT Thayer - Director


Air Culinaire Worldwide UK Limited (Registered number: 06773252)

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

1. STATUTORY INFORMATION

Air Culinaire Worldwide UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The preparation of the financial statements requires the directors to make an assessment of the entity's ability to continue as a going concern. The directors have reviewed this and consider it appropriate to prepare the financial statements on a going concern basis.

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.

Turnover includes revenue earned from the sale of goods, and from the recharges of management services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Turnover from the recharges of management services is recognised in the period in which the service is supplied.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the trade and assets of its principal supplier, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold improvements - Straight line over 7 years
Fixtures and fittings - Straight line over 7 years
Motor vehicles - 20% per annum on cost
Computer and office equipment - 20% per annum on cost and Straight line over 7 years

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


Air Culinaire Worldwide UK Limited (Registered number: 06773252)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 67 (2023 - 49 ) .

Air Culinaire Worldwide UK Limited (Registered number: 06773252)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 57,450
AMORTISATION
At 1 July 2023 27,768
Charge for year 5,745
At 30 June 2024 33,513
NET BOOK VALUE
At 30 June 2024 23,937
At 30 June 2023 29,682

5. PROPERTY, PLANT AND EQUIPMENT
Computer
Fixtures and
Leasehold and Motor office
improvements fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 248,033 282,858 23,245 40,558 594,694
Additions 3,895 10,600 - 4,083 18,578
At 30 June 2024 251,928 293,458 23,245 44,641 613,272
DEPRECIATION
At 1 July 2023 23,881 77,914 4,262 21,929 127,986
Charge for year 35,922 41,323 4,649 5,999 87,893
At 30 June 2024 59,803 119,237 8,911 27,928 215,879
NET BOOK VALUE
At 30 June 2024 192,125 174,221 14,334 16,713 397,393
At 30 June 2023 224,152 204,944 18,983 18,629 466,708

Air Culinaire Worldwide UK Limited (Registered number: 06773252)

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

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 828,450 762,986
Amounts owed by group undertakings 30,887 34,074
Other debtors 5,500 10,663
Corporation tax 47 41,706
Social security and other taxes 3,288 6,449
Prepayments and accrued income 94,386 62,850
962,558 918,728

Amounts falling due after more than one year:
Other debtors 47,047 47,047

Aggregate amounts 1,009,605 965,775

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 193,070 235,704
Amounts owed to group undertakings 746,817 638,823
Social security and other taxes 37,006 33,383
Other creditors 37,014 11,297
Accruals and deferred income 181,534 190,972
1,195,441 1,110,179

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 137,652 131,179
Between one and five years 760,611 871,542
898,263 1,002,721

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Deferred tax 51,317 60,638
Tax losses available (9,226 ) (6,552 )
42,091 54,086

Air Culinaire Worldwide UK Limited (Registered number: 06773252)

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

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 54,086
Credit to Statement of Comprehensive Income during year (11,995 )
Balance at 30 June 2024 42,091

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Stephen Haffner (Senior Statutory Auditor)
for and on behalf of Harris & Trotter LLP

11. RELATED PARTY DISCLOSURES

The company is a subsidiary of Air Culinaire Worldwide LLC, which itself is 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 Holding 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 Worldwide (UK) Limited and of Air Culinaire Holding Limited and its subsidiary Air Culinaire France SARL.

Universal Mission Support Company LLC and Universal Weather and Aviation LLC are also subsidiaries of GEERA Holdings LLC. Universal Aviation (UK) Limited is a subsidiary of Universal Weather and Aviation LLC.

At the balance sheet date, the amounts outstanding were as follows:

2024 2023
Due from Due to Due from Due to
£ £ £ £
Universal Aviation (UK) Limited - 16,599 3,098 -
Air Culinaire Worldwide LLC - 544,835 - 447,974
Air Culinaire Worldwide France SARL - 5,331 - 14,475
Universal Mission Support Company LLC 30,887 - 30,976 -
Air Culinaire Holding Limited - 180,052 - 176,374
30,887 746,817 34,074 638,823

The accounts of Air Culinaire Worldwide UK 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.

Air Culinaire Worldwide UK Limited (Registered number: 06773252)

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

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors of Air Culinaire Worldwide LLC.