Stolkin Helicopters Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04446459

Stolkin Helicopters Limited

Filleted Unaudited Accounts

5 April 2024

Stolkin Helicopters Limited

Statement of Financial Position

5 April 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4	1,113,623	–
Investments	5	697,192	–
		------------	----
		1,810,815	–

Current assets

Debtors	6	726,010	548,231
Cash at bank and in hand		34,013	2,439,938
		---------	------------
		760,023	2,988,169

Creditors: amounts falling due within one year	7	( 27,867)		( 17,924)
		---------		------------
Net current assets			732,156	2,970,245
			------------	------------
Total assets less current liabilities			2,542,971	2,970,245
			------------	------------
Net assets			2,542,971	2,970,245
			------------	------------

Capital and reserves

Called up share capital	1,800,000	1,800,000
Profit and loss account	742,971	1,170,245
	------------	------------
Shareholders funds	2,542,971	2,970,245
	------------	------------

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

Stolkin Helicopters Limited

Statement of Financial Position (continued)

5 April 2024

These accounts were approved by the board of directors and authorised for issue on 2 April 2025 , and are signed on behalf of the board by:

M R Stolkin
Director

Company registration number: 04446459

Stolkin Helicopters Limited

Notes to the Accounts

Year ended 5 April 2024

1. General information

The company is registered in England and Wales. The principal place of business is 14 Egerton Gardens Mews, London, SW3 2EH.

2. Statement of compliance

These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The accounts are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Valuation of investment properties A key accounting estimate in preparing these financial statements relates to the fair value of the investment properties. The directors have extensive experience in the property industry and have determined the value of the investment properties at the reporting date. Naturally, the valuation of the and the investment properties is inherently subjective.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax amended for deferred and accrued income. Rents receivable are recognised in accordance with the terms of the lease and service charge income represents recharges of the running costs to tenants is recognised on an accruals basis, when the amount can be reliably measured.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Operating leases - as lessor

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Investment Property
	£
Cost
At 6 April 2023	–
Additions	1,113,623
	------------
At 5 April 2024	1,113,623
	------------
Depreciation
At 6 April 2023 and 5 April 2024	–
	------------
Carrying amount
At 5 April 2024	1,113,623
	------------
At 5 April 2023	–
	------------

Included within the above is investment property as follows:

	£
At 6 April 2023	–
Additions	1,113,623
	------------
At 5 April 2024	1,113,623
	------------

The director believes the current cost is the fair value of the investment property held by the company at 5 April 2024, as they have extensive experience in the property industry.

5. Investments

	Listed investments
	£
Cost
At 6 April 2023	–
Additions	1,203,138
Fair value adjustment	( 505,946)
	------------
At 5 April 2024	697,192
	------------
Impairment
At 6 April 2023 and 5 April 2024	–
	------------

Carrying amount
At 5 April 2024	697,192
	------------
At 5 April 2023	–
	------------

The listed investments have a historic cost of £1,203,137 but are included at fair value as 5 April 2024 based on the stock exchange value as at that date.

6. Debtors

	2024	2023
	£	£
Other debtors	726,010	548,231
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	26,151	16,424
Other creditors	1,716	1,500
	--------	--------
	27,867	17,924
	--------	--------

8. Events after the end of the reporting period

The listed investments are volatile and since the year end have fallen further, this has not been recognised in the profit and loss account.