REGISTERED NUMBER: 07575776 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PANGAEA FLIGHT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J D Richards

REGISTERED OFFICE:

2 Appleton Avenue

The Reddings

Cheltenham

Gloucestershire

GL51 6TS

REGISTERED NUMBER:

07575776 (England and Wales)

ACCOUNTANTS:

Kingscott Dix (Cheltenham) Limited

7 Rockfield Business Park

Old Station Drive

Leckhampton

Cheltenham

GL53 0AN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

203

270

203

270

CURRENT ASSETS

Debtors

6

803

1,050

Cash at bank

9,551

3,730

10,354

4,780

CREDITORS

Amounts falling due within one year

7

(3,693

)

(1,895

)

NET CURRENT ASSETS

6,661

2,885

TOTAL ASSETS LESS CURRENT LIABILITIES

6,864

3,155

CREDITORS

Amounts falling due after more than one year

8

(105

)

(779

)

NET ASSETS

6,759

2,376

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

6,659

2,276

SHAREHOLDERS' FUNDS

6,759

2,376

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 28 December 2025 and were signed by:

J D Richards - Director

1.	STATUTORY INFORMATION

Pangaea Flight Services 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.

Significant judgements and estimates

No significant judgements and estimates have been used in preparing the financial statements.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

Financial instruments

The company only has financial assets and financial 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

5,000

AMORTISATION

At 1 April 2024

and 31 March 2025

5,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

4,411

DEPRECIATION

At 1 April 2024

4,141

Charge for year

67

At 31 March 2025

4,208

NET BOOK VALUE

At 31 March 2025

203

At 31 March 2024

270

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

700

1,050

Other debtors

103

-

803

1,050

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

630

630

Taxation and social security

1,537

259

Other creditors

1,526

1,006

3,693

1,895

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

105

779

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

10.	RELATED PARTY DISCLOSURES

Included within other creditors for year ending 31st March 2024 is an amount of £581 due to Mr J Richards, director of the company. The loan does not attract any interest and there is no specific repayment date.

In the year ending 31st March 2025 this amount is £0.00.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is J D Richards.