Registered number
SC106591
ABZ Airborne Limited
Filleted Accounts
31 December 2024
ABZ Airborne Limited
Registered number: SC106591
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 374,999 413,311
Investments 4 1,240,000 1,230,000
1,614,999 1,643,311
Current assets
Debtors 5 327,345 212,132
Cash at bank and in hand 541,186 628,735
868,531 840,867
Creditors: amounts falling due within one year 6 (118,333) (135,682)
Net current assets 750,198 705,185
Total assets less current liabilities 2,365,197 2,348,496
Provisions for liabilities (3,404) (2,405)
Net assets 2,361,793 2,346,091
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 15,102 44,299
Profit and loss account 2,346,591 2,301,692
Shareholders' funds 2,361,793 2,346,091
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Brodie
Director
Approved by the board on 1 July 2025
ABZ Airborne Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Heritable property over 50 years
Fixtures and fittings over 5 years
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Heritable Property Fixtures & Fittings Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 429,197 79,554 10,005 518,756
Additions - 4,817 - 4,817
Surplus on revaluation (29,197) - - (29,197)
Disposals - (5,862) - (5,862)
At 31 December 2024 400,000 78,509 10,005 488,514
Depreciation
At 1 January 2024 34,336 61,205 9,904 105,445
Charge for the year 8,584 3,834 25 12,443
On disposals - (4,373) - (4,373)
At 31 December 2024 42,920 60,666 9,929 113,515
Net book value
At 31 December 2024 357,080 17,843 76 374,999
At 31 December 2023 394,861 18,349 101 413,311
4 Investment Property
£
Fair Value
At 1 January 2024 1,230,000
Revaluation 10,000
At 31 December 2024 1,240,000
The investment properties were revalued on 31 December 2024 by the company directors at open market value. The original cost of the investment properties was £1,176,057.
5 Debtors 2024 2023
£ £
Trade debtors 263,487 198,219
Other debtors 63,858 13,913
327,345 212,132
The investment properties were revalued on 31 December 2024 by the company directors at open market value. The original cost of the investment properties was £1,176,057.
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,701 996
Corporation Tax 42,887 72,882
Taxation and social security costs 66,480 54,257
Other creditors 7,265 7,547
118,333 135,682
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 44,299 44,299
Loss on revaluation of land and buildings (29,197) -
At 31 December 2024 15,102 44,299
8 Other information
ABZ Airborne Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
1st Floor North
Kingshill View Prime Four Business Park
Kingswell
Aberdeen
AB12 8PU
ABZ Airborne Limited SC106591 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 Mr G Brodie No description of principal activity SC106591 2023-01-01 2023-12-31 SC106591 core:RevaluationReserve core:LandBuildings 2023-01-01 2023-12-31 SC106591 core:WithinOneYear 2023-12-31 SC106591 core:ShareCapital 2023-12-31 SC106591 core:OtherReservesSubtotal 2023-12-31 SC106591 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC106591 core:RevaluationReserve 2022-12-31 SC106591 2024-01-01 2024-12-31 SC106591 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC106591 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC106591 bus:Director40 2024-01-01 2024-12-31 SC106591 1 2024-01-01 2024-12-31 SC106591 2 2024-01-01 2024-12-31 SC106591 core:LandBuildings 2024-01-01 2024-12-31 SC106591 core:PlantMachinery 2024-01-01 2024-12-31 SC106591 core:Vehicles 2024-01-01 2024-12-31 SC106591 core:RevaluationReserve core:LandBuildings 2024-01-01 2024-12-31 SC106591 countries:England 2024-01-01 2024-12-31 SC106591 bus:FRS102 2024-01-01 2024-12-31 SC106591 bus:FilletedAccounts 2024-01-01 2024-12-31 SC106591 2024-12-31 SC106591 core:WithinOneYear 2024-12-31 SC106591 core:ShareCapital 2024-12-31 SC106591 core:OtherReservesSubtotal 2024-12-31 SC106591 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC106591 core:LandBuildings 2024-12-31 SC106591 core:PlantMachinery 2024-12-31 SC106591 core:Vehicles 2024-12-31 SC106591 core:RevaluationsIncreaseDecreaseInInvestments 2024-12-31 SC106591 core:RevaluationReserve 2024-12-31 SC106591 2023-12-31 SC106591 core:LandBuildings 2023-12-31 SC106591 core:PlantMachinery 2023-12-31 SC106591 core:Vehicles 2023-12-31 SC106591 core:RevaluationReserve 2023-12-31 iso4217:GBP xbrli:pure