REGISTERED NUMBER: 07677955 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Aerofol Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

M P Foley

Registered office:

Suite 2,

77a, St. Johns Wood High Street,

London,

NW8 7NL

Registered number:

07677955 (England and Wales)

Current assets

Debtors

4

89,351

235,466

Cash at bank

49,564

202,918

138,915

438,384

Creditors

Amounts falling due within one year

5

(128,066

)

(230,993

)

Net current assets

10,849

207,391

Total assets less current liabilities

10,849

207,391

Creditors

Amounts falling due after more than one year

6

(5,496

)

(10,854

)

Net assets

5,353

196,537

Capital and reserves

Called up share capital

8

2

2

Retained earnings

9

5,351

196,535

Shareholders' funds

5,353

196,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 16 December 2025 and were signed by:

M P Foley - Director

1.	Statutory information

The Company is a private company limited by shares, incorporated in England and Wales. Its registered office is Suite 2 77a, St John's Wood High Street, London, England, NW8 7NL.

The company's principal business activity is that of the provision of non-scheduled passenger air transport.

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.

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.

Going concern

After making enquiries the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason he continues to adopt the going concern basis in preparing the financial statements.

3.	Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4.

Debtors: amounts falling due within one year

31.12.24

31.12.23

£

£

Other debtors

89,351

235,466

5.

Creditors: amounts falling due within one year

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 7)

5,359

5,227

Trade creditors

413

414

Taxation and social security

76,254

86,090

Other creditors

46,040

139,262

128,066

230,993

6.

Creditors: amounts falling due after more than one year

31.12.24

31.12.23

£

£

Bank loans (see note 7)

5,496

10,854

7.

Loans

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank loans

5,359

5,227

Amounts falling due between one and two years:

Bank loans - 1-2 years

5,496

5,359

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

5,495

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2

Ordinary £1 shares

1

2

2

Called-up share capital represents the nominal value of shares that have been issued.

9.

Reserves

Retained

earnings

£

At 1 January 2024

196,535

Profit for the year

43,816

Dividends

(235,000

)

At 31 December 2024

5,351

The retained earnings reserve records retained earnings and accumulated losses.

10.	Director's advances, credits and guarantees

During the year the director had the following loan account with the company:

M P Foley

31.12.24

31.12.23

£

£

Balance brought forward

233,120

(535

)

Monies paid to M P Foley

93,449

249,975

Monies repaid to Aerofol Limited

(6,266

)

(16,320

)

Dividends received

(235,000

)

-

Balance carried forward

85,303

233,120

The above loan is unsecured, interest free and repayable on demand.

11.	Related party disclosures

12.	Ultimate controlling party