REGISTERED NUMBER: SC061876 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Cormack (Aircraft Services) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Cormack

REGISTERED OFFICE:

Cumbernauld Airport

Duncan McIntosh Road

Cumbernauld

Glasgow

Lanarkshire

G68 0HH

REGISTERED NUMBER:

SC061876 (Scotland)

ACCOUNTANTS:

Clements

Chartered Accountants

39 St Vincent Place

Glasgow

G1 2ER

FIXED ASSETS

Tangible assets

4

807,332

499,800

CURRENT ASSETS

Stocks

28,616

29,437

Debtors

5

183,371

245,742

Cash at bank and in hand

893,480

834,188

1,105,467

1,109,367

CREDITORS

Amounts falling due within one year

6

434,339

281,137

NET CURRENT ASSETS

671,128

828,230

TOTAL ASSETS LESS CURRENT LIABILITIES

1,478,460

1,328,030

PROVISIONS FOR LIABILITIES

81,373

53,082

NET ASSETS

1,397,087

1,274,948

CAPITAL AND RESERVES

Called up share capital

50,002

50,002

Retained earnings

1,347,085

1,224,946

SHAREHOLDERS' FUNDS

1,397,087

1,274,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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:

G Cormack - Director

1.	STATUTORY INFORMATION

Cormack (Aircraft Services) Limited is a private company, limited by shares , registered in Scotland. 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

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. Revenue is recognised when the company has the right to receive it.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance and at varying rates on cost

Stocks

Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments

The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

285,950

410,029

695,979

Additions

313,508

50,668

364,176

At 31 March 2025

599,458

460,697

1,060,155

DEPRECIATION

At 1 April 2024

65,527

130,652

196,179

Charge for year

8,853

47,791

56,644

At 31 March 2025

74,380

178,443

252,823

NET BOOK VALUE

At 31 March 2025

525,078

282,254

807,332

At 31 March 2024

220,423

279,377

499,800

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

78,212

43,098

Other debtors

105,159

202,644

183,371

245,742

Included in other debtors is the director's loan which is unsecured, interest free and repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

154,670

78,443

Taxation and social security

57,534

9,851

Other creditors

222,135

192,843

434,339

281,137

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

G Cormack

Balance outstanding at start of year

88,000

(1,969

)

Amounts advanced

14,484

89,969

Amounts repaid

(88,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,484

88,000

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £500 (2024 - £1,000) were paid to the director .