Registered No. OC350098 (England)
Volantair LLP
Unaudited accounts
for the year ended 31 December 2024
Volantair LLP
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
4,766
2,331
Creditors: amounts falling due within one year
(7,824)
(75,772)
Net current liabilities
-
(71,088)
Total assets less current liabilities
-
697,720
Creditors: amounts falling due after more than one year
-
(570,830)
Net assets attributable to members
-
126,890
Loans and other debts due to members
-
126,890
Loans and other debts due to members
-
126,890
For the year ending 31 December 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 23 September 2025.
Boyd Developments Limited
Designated member
Limited Liability Partnership Registration No. OC350098
Volantair LLP
Notes to the Accounts
for the year ended 31 December 2024
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) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Having reviewed the resources available, the members believe that Volantair LLP has adequate resources to enable it to continue in operational existence for a period of at least 12 months from the date of approval of the financial statements. Accordingly, Volantair LLP continues to adopt the going concern basis in preparation of its financial statements.
Turnover comprises amounts invoiced by the Limited Liability Partnership exclusive of value added tax. 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: the amount of revenue can be measured reliably; it is probable that the LLP will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
Plant & machinery
5% - 20% Reducing Balance
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Volantair LLP is a limited liability partnership, incorporated in England, registration number OC350098. Its registered office is 14 Holywell Row, London, EC2A 4JB.
Volantair LLP
Notes to the Accounts
for the year ended 31 December 2024
3
Tangible fixed assets
Plant & machinery
At 31 December 2023
768,808
4
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
53,893
Trade creditors
1,145
16,361
Taxes and social security costs
2,470
2,464
5
Creditors: amounts falling due after more than one year
2024
2023
Bank loans are secured by way of a fixed and floating charge over the assets of the company.
6
Loans and other debts due to members
2024
2023
Amounts due to members in respect of profits
-
126,890
Amounts falling due within one year
-
126,890
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Transactions with related parties
Included within debtors are amounts due from connected companies amounting to £Nil (2023: £1,431).
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).