Company registration number 03191645 (England and Wales)
AIR ATLANTA UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
AIR ATLANTA UK LIMITED
COMPANY INFORMATION
Directors
Geir Valur Agustsson
Hannes Hilmarsson
Helgi Hilmarsson
Secretary
Stefan Eyjolfsson
Company number
03191645
Registered office
Unit 2
Meadowbrook Industrial Estate
Maxwell Way
Crawley
RH10 9SA
Accountants
TC Group
5th Floor
3 Dorset Rise
London
EC4Y 8EN
AIR ATLANTA UK LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
AIR ATLANTA UK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Trade and other receivables
3
165,590
165,590
Current liabilities
4
(2,400)
(2,400)
Net current assets
163,190
163,190
Equity
Called up share capital
5
2
2
Retained earnings
163,188
163,188
Total equity
163,190
163,190

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 23 May 2025 and are signed on its behalf by:
Geir Valur Agustsson
Director
Company registration number 03191645 (England and Wales)
AIR ATLANTA UK LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Air Atlanta UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Meadowbrook Industrial Estate, Maxwell Way, Crawley, RH10 9SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income statement

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Income statement is presented in these financial statements.

1.3
Financial instruments

A financial instrument is a contract which gives rise to a financial asset in one entity and a financial liability in another entity. The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

AIR ATLANTA UK LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Employees

The company had no employees during either the current or the prior year.

 

3
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
165,590
165,590
4
Current liabilities
2024
2023
£
£
Other payables
2,400
2,400
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
6
Parent company

The immediate parent company is Air Atlanta Icelandic ehf, a company incorporated in Iceland. The ultimate parent company is Haru Holding ehf, a company incorporated in Iceland.

 

The smallest group of undertakings for which group accounts have been drawn up is that headed Air Atlanta Icelandic ehf and the largest group of undertakings for which group accounts have been drawn up is that headed by Haru Holding ehf. Copies of the accounts can be obtained from Hildasmari 3, 201 Kopavogur, Iceland.

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