REGISTERED NUMBER: 01466107 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

JUBILEE AIRWAYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C E Campbell

S Klinge

M Klinge

SECRETARY:

R Templeton

REGISTERED OFFICE:

One

Fleet Place

London

EC4M 7WS

REGISTERED NUMBER:

01466107 (England and Wales)

AUDITORS:

McLay, McAlister & McGibbon LLP

Chartered Accountants and Statutory Auditors

145 St. Vincent Street

Glasgow

G2 5JF

CURRENT ASSETS

Debtors

6

4,002

326,547

Cash at bank

504

500

4,506

327,047

CREDITORS

Amounts falling due within one year

7

1,500

2,834

NET CURRENT ASSETS

3,006

324,213

TOTAL ASSETS LESS CURRENT LIABILITIES

3,006

324,213

CAPITAL AND RESERVES

Called up share capital

8

8

Retained earnings

2,998

324,205

3,006

324,213

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:

M Klinge - Director

1.	STATUTORY INFORMATION

Jubilee Airways Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

By equal instalments over the term lease

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The company ceased trading on the 30th June 2024. No adjustments or reclassifications are considered necessary at the balance sheet date to reflect the cessation of trading.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

1,000

2,000

5.	TANGIBLE FIXED ASSETS

Short

leasehold

£

COST

At 1 January 2024

75,971

Disposals

(75,971

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

75,971

Eliminated on disposal

(75,971

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

1,200

Amounts owed by group undertakings

4,002

321,253

Other debtors

-

4,094

4,002

326,547

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

-

334

Other creditors

1,500

2,500

1,500

2,834

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

-

3,647

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

George Macshannon (Senior Statutory Auditor)

for and on behalf of McLay, McAlister & McGibbon LLP

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the amount due from group companies was £4,002 (2023: £321,253). The loan is interest free and repayable on demand.