ACCOUNTS - Final Accounts preparation

Registered number: 15345623

NEXT FLIGHT VENTURES UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

NEXT FLIGHT VENTURES UK LIMITED

REGISTERED NUMBER: 15345623

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024
Note		£

Fixed assets
Tangible assets	4		2,406
			2,406
Current assets
Debtors: amounts falling due within one year	5	1,709,161
Cash at bank and in hand	6	278,154
		1,987,315
Creditors: amounts falling due within one year	7	(1,863,952)
Net current assets			123,363
Total assets less current liabilities			125,769

Net assets			125,769

Capital and reserves
Called up share capital	8	100
Profit and loss account		125,669
		125,769

Page 1

NEXT FLIGHT VENTURES UK LIMITED

REGISTERED NUMBER: 15345623

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G A O'Dowd

Director

Date: 24 April 2026

The notes on pages 3 to 7 form part of these financial statements.

Page 2

NEXT FLIGHT VENTURES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	General information

Next Flight Ventures UK Limited is a private company, limited by shares, registered in England and Wales, registration number 15345623. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The company was incorporated on 12 December 2023 and commenced trading on the same date

The principal activity of the company is that of music touring and performing.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.

2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administrative expenses'. All other foreign exchange gains and losses are presented in the profit and loss account.

Page 3

NEXT FLIGHT VENTURES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Turnover recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from touring is recognised as the related performance obligations are satisfied and only to the extent that it is probable that the company will be entitled to the consideration due under the contract.

Turnover from performances is recognised once the performances have taken place in line with the obligations per the contract.

Recharged income is recognised when the corresponding expenses have been incurred on behalf of other entities.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

NEXT FLIGHT VENTURES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25%

straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors and loan with the related parties.

Employees

The average monthly number of employees, including directors, during the period was 3.

Page 5

NEXT FLIGHT VENTURES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	2,511
	At 31 December 2024	2,511
	Depreciation
	Charge for the period	105
	At 31 December 2024	105
	Net book value
	At 31 December 2024	2,406

Debtors

					2024
					£


	Trade debtors	409,826
	Other debtors	1,230,959
	Prepayments	68,376
		1,709,161

6.	Cash
		2024
		£

	Cash at bank and in hand	278,154

Page 6

NEXT FLIGHT VENTURES UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

7.	Creditors: amounts falling due within one year
		2024
		£

	Trade creditors	287,417
	Corporation tax	27,586
	Other taxation and social security	88,502
	Other creditors	438,571
	Accruals and deferred income	1,021,876
		1,863,952

On 26 December 2023, a charge was created whereby Wilmington Trust, National Association holds a fixed and floating charge, which contains a negative pledge over the assets of the company.

8.	Share capital
		2024
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

On incorporation, 100 ordinary shares of £1 each were issued at par.

9.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,211. Contributions totalling £257 were payable to the fund at the balance sheet date and are included in creditors.

10.	Transactions with directors

As at the period end, the directors owed the company £733,350. The loan is unsecured, repayable on demand and interest has been charged at the official rate.

Page 7