Company Registration No. 7895469 (England and Wales)
Global Air Projects Limited
Unaudited accounts
for the year ended 31 August 2025
Global Air Projects Limited
Unaudited accounts
Contents
Global Air Projects Limited
Company Information
for the year ended 31 August 2025
Company Number
7895469 (England and Wales)
Registered Office
Units 24-25
Croft Road Industrial Estate
Newcastle under Lyme
Staffordshire
ST5 0TW
Accountants
Thursfields Accountancy Limited
Business Lodge, Trent House
234 Victoria Road
Stoke-on-Trent
Staffordshire
ST4 2LW
Global Air Projects Limited
Statement of financial position
as at 31 August 2025
Tangible assets
31,404
40,275
Cash at bank and in hand
156,761
92,798
Creditors: amounts falling due within one year
(395,376)
(517,698)
Net current assets
117,611
17,382
Total assets less current liabilities
149,015
57,657
Creditors: amounts falling due after more than one year
(22,288)
(48,155)
Provisions for liabilities
Deferred tax
(7,632)
(7,653)
Called up share capital
1
1
Profit and loss account
119,094
1,848
Shareholders' funds
119,095
1,849
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 May 2026 and were signed on its behalf by
P A Mitchelll
Director
Company Registration No. 7895469
Global Air Projects Limited
Notes to the Accounts
for the year ended 31 August 2025
Global Air Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 7895469. The registered office is Units 24-25, Croft Road Industrial Estate, Newcastle under Lyme, Staffordshire, ST5 0TW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Motor vehicles
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Global Air Projects Limited
Notes to the Accounts
for the year ended 31 August 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Total
At 1 September 2024
75,663
At 1 September 2024
35,388
Charge for the year
12,379
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
0% interest due on demand loan
2,754
600
2,754
600
7
Average number of employees
During the year the average number of employees was 8 (2024: 6).