Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31No description of principal activityfalsetruefalse2024-03-014falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 15534256 2024-02-29 15534256 2024-03-01 2025-03-31 15534256 2023-03-01 2024-02-29 15534256 2025-03-31 15534256 c:Director1 2024-03-01 2025-03-31 15534256 d:CurrentFinancialInstruments 2025-03-31 15534256 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 15534256 d:ShareCapital 2025-03-31 15534256 d:RetainedEarningsAccumulatedLosses 2025-03-31 15534256 c:FRS102 2024-03-01 2025-03-31 15534256 c:AuditExempt-NoAccountantsReport 2024-03-01 2025-03-31 15534256 c:FullAccounts 2024-03-01 2025-03-31 15534256 c:PrivateLimitedCompanyLtd 2024-03-01 2025-03-31 15534256 2 2024-03-01 2025-03-31 15534256 e:PoundSterling 2024-03-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 15534256










PROPEL FLIGHT OPERATIONS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2025

 
PROPEL FLIGHT OPERATIONS LTD
REGISTERED NUMBER: 15534256

BALANCE SHEET
AS AT 31 MARCH 2025

2025
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
302,983

Cash at bank and in hand
 5 
563

  
303,546

Creditors: amounts falling due within one year
 6 
(391,545)

Net current liabilities
  
 
 
(87,999)

Total assets less current liabilities
  
(87,999)

  

Net liabilities
  
(87,999)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(88,099)

  
(87,999)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



R J Wilkinson
Director

Date: 22 August 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
PROPEL FLIGHT OPERATIONS LTD
REGISTERED NUMBER: 15534256
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025


Page 2

 
PROPEL FLIGHT OPERATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

1.


General information

Propel Flight Operations Ltd is a private company limited by shares, incorporated in England and Wales with the registered number 15534256. The registered office is Nene House, 4 Rushmills, Northampton, NN4 7YB.
The company was incorporated on 1 March 2024 and commenced trading from that date.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
PROPEL FLIGHT OPERATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impairment is found,
an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at cost less impairment, the impairment loss is measured as the
difference between an asset's carrying amount and best estimate of the recoverable amount, which
is an approximation of the amount that the Company would receive for the asset if it were to be sold
at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.



3.


Employees

The average monthly number of employees, including directors, during the period was 4.


4.


Debtors

2025
£


Trade debtors
225,295

Other debtors
70,323

Prepayments and accrued income
7,365

302,983


Page 4

 
PROPEL FLIGHT OPERATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025

5.


Cash and cash equivalents

2025
£

Cash at bank and in hand
563



6.


Creditors: Amounts falling due within one year

2025
£

Trade creditors
27,072

Other taxation and social security
13,019

Other creditors
346,765

Accruals and deferred income
4,689

391,545



7.


Related party transactions

During the period, the Company made sales of £66,469, purchases of £199,959 from companies with a common shareholder and directorship. At 31 March 2025 £310 was owed to the companies and £22,289 owed by the companies. 
During the period, the Company made sales of £223,784 to a Director. At 31 March 2025 there was £216,378 owed to the Company.
Included within creditors is a loan of £334,500 owed to a company with a common shareholder and directorship. This loan is interest free and there are no set terms for repayment. 

 
Page 5