Period from 1 January 2023 to
Registration number:
Penzance Heliport Limited
Balance Sheet
30 April 2024
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Note |
2024 |
Unaudited |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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......................................... |
Company Registration Number: 08169487
Penzance Heliport Limited
Notes to the Financial Statements
Period from 1 January 2023 to 30 April 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
These financial statements have been prepared on a going concern basis. The directors acknowledge the net current liability position as at the year end of £4,917,763 (2022 - £167,916). This is as a result of intercompany debt and the directors have satisfied themselves on the validity of applying the going concern basis of preparation as assurances have been given by its parent company, Tresco island Limited, that the amount owed to them will not be called upon for repayment should it impact the going concern of the company and that it will continue to provide financial support should it be required.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Penzance Heliport Limited
Notes to the Financial Statements
Period from 1 January 2023 to 30 April 2024
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold impovements |
Over the term of the lease |
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Plant and machinery |
25% straightline |
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Motor vehicles |
25% straightline |
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Penzance Heliport Limited
Notes to the Financial Statements
Period from 1 January 2023 to 30 April 2024
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Tangible assets |
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Land and buildings |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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- |
- |
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At 30 April 2024 |
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Depreciation |
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At 1 January 2023 |
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Charge for the period |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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- |
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At 31 December 2022 |
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Included within the net book value of land and buildings above is £4,380,043 (2022 - £4,463,534) in respect of long leasehold land and buildings.
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Debtors |
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2024 |
Unaudited |
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Prepayments and accrued income |
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Other debtors |
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Creditors |
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Note |
2024 |
Unaudited |
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Due within one year |
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Trade creditors |
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- |
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Amounts owed to group undertakings |
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- |
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Accruals and deferred income |
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Penzance Heliport Limited
Notes to the Financial Statements
Period from 1 January 2023 to 30 April 2024
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2024 |
Unaudited |
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Due after one year |
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Deferred income |
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Other creditors |
- |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
Unaudited |
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No. |
£ |
No. |
£ |
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1 |
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1 |
During the year, Tresco Island Limited acquired the share capital of the company.
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
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Related party transactions |
The company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with wholly owned members of the group.
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Relationship between entity and parents |
Relationship between entity and parents
The parent of the smallest group in which these financial statements are consolidated is
The address of Tresco Island Limited is:
Newham Road
Truro
Cornwall
TR1 2DP
Penzance Heliport Limited
Notes to the Financial Statements
Period from 1 January 2023 to 30 April 2024
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Audit report |